Last Updated: June 2026 — Income tax rates applicable for Financial Year 2025-26 (Assessment Year 2026-27) under both the New and Old Tax Regimes. New Tax Regime Rates – FY 2025-26 The New Tax Regime is the default regime from FY 2023-24 onwards. Zero tax up to Rs. 12 lakh … Continue reading
Actions to curb Black Money First major decision taken by the present Government after taking over reins of power in May, 2014 was to constitute a Special Investigating Team (SIT) to implement the decision of the Hon’ble Supreme Court on large amount of money stashed abroad by evading taxes or … Continue reading
(INCOME?TAX) S.O. 2906(E).In exercise of the powers conferred by clause (xxi) of sub?section (2) of section 80C of the Income?tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Bank Term Deposit Scheme, 2006, namely:? (a) This scheme is called as the Bank Term … Continue reading
If you have not filed Income return for last few years ( ie Previous year 2012-2013, 2011-2012, 2010-2011, and 2009-2010) then chances are that you might have received income tax notice from income tax department. Income Tax Department is collating information from various sources and is sending notice to non-filers of Income Tax … Continue reading
Last Updated: June 2026 — FY 2025-26 (AY 2026-27) Under Section 194IA, the buyer of an immovable property (other than agricultural land) must deduct TDS at the time of payment if the property value is Rs. 50 lakh or more. TDS on Property Sale – Section 194IA (FY 2025-26) Detail … Continue reading
LIC Jeevan Shagun is new Money Back Plan Single premium policy from LIC. Jeevan Shagun (Plan No. 826) is good option as it provides good return and is available against one time payment. Jeevan Shagun is a close ended plan which would be open for sale from 01 September , 2014 … Continue reading
Due date for filing tax return was 31.07.2014 ( 31 st July ) for all Individuals getting salary and running their own business or profession or working as free lancer. Due date for assessee who are required to get their books audited, the last date for filing return is 30th September. … Continue reading
Income Tax Rates for Assessment year 2015-2016 (Previous year 2013-14) Income Tax Rates/Slab for Assessment Year 2015-16 (Previous Year 2013-14) Rates/ %age Up to 2,50,000 Up to 2,50,000 (for women) Up to 3,00,000 (for resident individual of 60 years till 80 years) Nil 250,001 – 5,00,000Up to 500,000 (for resident … Continue reading
Income Tax Return filing last date is 31st july 2014 for non- Audit cases. There is lot of confusion among tax payers, which is the correct income tax form. Whether I should use ITR 1 or ITR 2. Who can use ITR 1 ITR–1 Form is to be used by … Continue reading
The Central Board of Direct Taxes (CBDT) has specified a value for the cost inflation index (CII) for 2014-15. A cost inflation index helps reduce the inflationary gains, thereby reducing the long-term capital gains tax payout for a taxpayer. Last year, the index was ‘939’, and this year it is … Continue reading