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Source: Live Mint Income Tax: If you are planning to opt for old tax regime at the time of filing your income tax return (ITR) in July this year for FY 2024-25, it is important to remember that the last date to invest in tax-saving instruments is March 31 i.e., Monday. If you also intend…
Source: Live Mint Income Tax: Last two weeks are left to invest in tax saving instruments to be able to claim tax deduction for FY 2024-25. So, if you have opted for the old tax regime or plan to opt for it at the time of filing your tax return – you should invest in…
Source: Live Mint Meeting income tax deadline is important for the taxpayers, failing which they stand to miss out on tax benefits or may even have to pay penalties, fees or fines. The financial year 2026 is set to culminate in another 15 days. We, therefore, list out the key deadlines that are set to…
Source: Live Mint With financial year 2024-25 soon coming to an end, only three weeks are remaining before the taxpayers can invest in the tax-saving instruments such as PPF, NSC, KVP, SSY and SCSS. Taxpayers who wish to claim income tax deduction must invest in these instruments before March 31. Where can taxpayers invest to…
Source: Live Mint Income Tax (I-T) department has released the latest list of banks which are mapped to e-Pay tax service at e-Filing Portal as you file your income tax return. The two banks which were lately added to the list are Tamilnad Mercantile Bank (included on March 5, 2025) and IDFC First Bank (added…
Source: Live Mint If you want to invest in tax saving instruments such as PPF, NSC, SSY and NPS, it is important to do it within the right timeframe. Those taxpayers who want to claim tax benefits for financial year 2024-25 must do it before March 31, 2025., failing which they will not be able to claim…
Source: Live Mint Starting April next year, when the new income tax law comes into force, income tax officials could get the authority to access your social media accounts and emails. The new income tax bill’s clause 247 states that an authorised income tax officer will have the power to gain access by overriding the…
Source: Live Mint In India, taxpayers can choose between the old and new income tax regimes, each offering distinct benefits. However, this choice isn’t permanent and can be revisited annually. Whether you are a salaried employee or running a business, understanding how often you can switch between tax regimes is crucial for maximising your tax…
Source: Live Mint ITR filing 2025: Before filing your income tax return, it is vital to compare the tax computation under both the tax regimes i.e., old and new. And you can opt for the regime which gives lower tax outgo. Introduced in 2020, the new tax regime was made the default regime for taxpayers…
Source: Live Mint Those taxpayers who want to updated their income tax return of previous two years can file an updated return before March 31. Although you can file the updated return anytime but it must be done within two years of the end of the relevant assessment year. This means those who want to…
