Our panel of experts answers questions related to any aspect of personal finance. If you have a query, mail it to us right away.

Pay Advance Tax, if Required – If the total tax liability exceeds Rs. 10,000 (after considering deductions and rebates), the ...

While you review your income and deductions for the year, you may start considering whether the old or new tax regime provides greater savings. HOW TO CHANGE THE TAX REGIME? The income tax return ...

If you're thinking of moving from the old to the new tax regime in India, and you’ve accumulated business losses in the past, it’s natural to wonder what becomes of them. The good news is that ...

I carried them forward in my last year Income Tax Return (ITR), again under the old regime. In the current assessment year, I am planning to switch to the new regime. Can I carry forward the ...

With financial priorities evolving and taxpayers navigating between two regimes for FY 2025-26, it is the ideal time to ...

Section 87A offers a rebate to resident individuals with total incomes below a specified threshold. This rebate is subtracted ...

MUMBAI: Though the new tax regime offers a simpler framework by eliminating ... Section 10(15), and this is applicable under both the old and new tax regimes," added Kinjal Bhuta, a chartered ...

Under the new tax regime, you will have to pay tax of Rs 1,04,000. Under the old tax regime, after claiming 80C (already ...

In the new financial year, taxpayers are gearing up to file their income tax returns (ITRs) for FY2024-25 (Assessment Year 2025-26). At the same time, these taxpayers do their math to check how ...

The Central Board of Direct Taxes (CBDT) has recently announced a significant change to the tax rebate ... of Rs 12,500 (old regime, income up to Rs 5 lakh) and Rs 25,000 (new regime, income ...

Right now, the base only holds 32 immigrants, making the whole effort look like a massive waste. Close to 500 people in total ...