Notably, taxpayers can claim exemption for HRA along with the interest on home loan under the old tax regime in the same year ...

The new tax regime provides lower tax rates and fewer deductions, eliminating the need for investment in tax-saving schemes ...

Also Read | Income Tax Slabs FY 2025-26 explained: 20 FAQs individual taxpayers should check to understand tax rates, income tax benefit under new tax regime For the tax brackets of Rs ...

By donating to eligible institutions and organisations, taxpayers can claim deductions ranging from 50% to 100% of the amount donated. However, there are certain limits on and conditions attached to ...

However, the in-hand salary (take-home pay) is what remains after deductions for: Income tax (as per the applicable slab) Employee Provident Fund (EPF) contributions Other deductions (e.g ...

Use an income tax calculator or consult a tax expert to understand your ... This applies to income taxed both in India and abroad for FY 2022-23. Timely submission is essential, and expert help may be ...

It is a long-term, low-risk investment scheme in India offered by the government. With a minimum tenure of 15 years, this scheme has a lock-in period that can be extended in 5-year blocks. PPF also ...

It will be calculated as follows: The income tax will be calculated on the net taxable income. You will be required to calculate income tax on Rs 18.75 lakh. The income tax calculation will start by ...

Learn what GDP is, its types like Nominal, Real, and PPP, and how it's calculated using production, expenditure, and income ...

When it comes to filing taxes in India, choosing between the old and new tax regimes can be a complex decision. Both offer ...

A home loan is a financial instrument that empowers individuals to buy or construct their dream home. Selecting the right home loan is crucial for achieving homeownership.