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 …
Understanding Dividend Tax in India for AY 2024-25 Read More »
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 …
Home Loan Deductions Available Under Income Tax Act for AY 2024-25 Read More »
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 »
BACKGROUND Finance minister Nirmala Sitharaman introduced Section 80EEA in the 2019 Union Budget to give a boost to the Centre’s Pradhan Mantri Awas Yojana (PMAY) and further boost real estate sector. The Section 80EEA deduction is over and above the Rs 2 lakh deduction limit allowed under existing provisions of Section 24 (b). WHO IS …
Section 80EEA – Deduction for Interest on Home Loan Read More »
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 …
Income Tax Calculator for FY 2023-24 (AY 2024-25) Read More »
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 …
