Tax Planning

With healthcare inflation soaring, deductions under Section 80D for health insurance premiums are due for an upgrade. Moreover, 18% GST on health insurance premiums needs to be done away with.

The CBDT recently, vide notification No. 112/2024 dated October 15, 2024, amended the Income-tax Rules, 1962 to introduce Form 12BAA.

The tax clearance certificate is issued by the Income Tax authorities stating that you have cleared all your tax dues before leaving the country. It is an important regulatory requirement, but…

With the completion of the ITR filing process, taxpayers who have diligently paid their taxes, are eagerly awaiting their income tax refunds.

Selecting the right tax-saving mutual funds can not only provide substantial tax benefits but also ensure long-term wealth creation.

A belated ITR filing, as defined under Section 139(4) of the Income Tax Act, 1961, allows taxpayers to file their income tax returns after the due date.

For the financial year 2023-24 and assessment year 2024-25, the ITR filing due date for individuals is July 31, 2024.

The old tax regime versus the revised new tax regime debate is currently abounding, and so we have compared the two to make the differences clear to you.

Capital gain tax on property has been changed in the budget to benefit old property owners while penalising the new owners.

Finance Minister Nirmala Sitharaman has announced a comprehensive review of the Income Tax Act in the Modi 3.0 budget and proposed easing taxation norms for individuals and entities.