Understanding Corporate Bonds in India Corporate bonds are a type of investment where you lend money to a company in exchange for regular interest payments and the return of the initial investment after a certain period. These bonds are issued by companies to raise funds for various purposes like expanding their business, starting new projects, …
Dividend tax refers to the tax imposed on the income earned from dividends in India. For the Assessment Year (AY) 2024-25, there are certain key aspects to consider regarding dividend taxation in the country. 1. Dividend Distribution Tax (DDT) Prior to the financial year 2020-21, companies were required to pay Dividend Distribution Tax (DDT) on …
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Home Loan Deductions Available Under Income Tax Act for AY 2024-25 When it comes to purchasing a home, many individuals opt for a home loan to fulfill their dream of becoming a homeowner. The Indian government provides certain tax benefits on home loans, which can help reduce the financial burden. Here are the home loan …
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Income Tax Return (ITR) forms are documents that individuals and entities in India use to file their income tax returns. The forms vary depending on the type of taxpayer and the nature of their income. Here are the different types of ITR forms applicable in India for Assessment Year (AY) 2024-25: ITR-1 (Sahaj) ITR-1 is …
When it comes to income tax in India, taxpayers have the option to choose between the new tax regime and the old tax regime. Let’s take a closer look at the income tax slabs applicable for the assessment year 2024-25 under both regimes. New Tax Regime The new tax regime, introduced in 2020, offers lower …
Income Tax Slabs: New Tax Regime vs. Old Tax Regime in India Read More »
Income Tax Return Filing in India Filing income tax returns is a legal obligation for individuals and entities in India who meet certain income thresholds. It is a process of reporting your income and paying taxes to the government. The income tax return filing process in India is governed by the Income Tax Act, 1961, …
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As FY 2023-24 is closing soon employee need to know and sumbit their tax liability to their employees. To help employees calculate their Tax Liability fo FY 2023-24 Palgou has made this Free of Cost Tax Calculator available for you. You Can check your Tax Liabilty for FY 2023-24 using this Calculator Online. If You …
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Filing your Income Tax Return (ITR) is not just a legal obligation; it’s a crucial financial responsibility. Neglecting this duty can have far-reaching consequences that extend beyond the immediate repercussions. Let’s have look on consequences of not filing your ITR. Penalties & Late Fees: Penalty under section 235F will be levied upto Rs. 5000/- for …
Last date to file ITR for FY 2022-23 (AY 2023-24) Due date to file Income Tax return without penalty in case of Individuals, HUFs and Non-Audit cases for FY 2022-23 (AY 2023-24) was 31st July. However if you have missed ITR filing within due date you can still file a belated return under section 139(4) …
ITR filing last date for FY 2022-23 (AY 2023-24) Read More »
Introduction: Tax planning is an essential aspect of financial management, and understanding how to optimize your income tax liability can significantly contribute to your financial well-being. In India, there are various legal avenues that individuals can explore to minimize their tax burden. Here are 10 smart tips to help you save income tax effectively. Invest …
