These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

However, you can claim a deduction on your taxable income under section 80c for your investments in this fund. (Current tax deductions are capped at 1.5 lakh per year).

However, you can claim a deduction on your taxable income under section 80c for your investments in this fund. (Current tax deductions are capped at 1.5 lakh per year).

Let us explore the current challenges, ongoing initiatives, and potential measures to simplify India's income tax framework and bolster economic growth. Chaudhri explains that the government’s Safe ...

Jan 30 (Reuters) - Indian gas distributor GAIL (GAIL.NS), opens new tab reported a nearly 30% fall in third-quarter profit before one-off items and taxes on Thursday, as costs rose amid muted ...

In the amended income tax returns form to be submitted there should be allowance for showing and taking deduction for agriculture income (an example). So, India Income Tax authorities should be ...

FreshSplash / Getty Images Ordinary income is income earned by an entity or an individual that is taxable at marginal tax rates. It can include wages, salaries, tips, bonuses, commissions ...

The new law will replace the 63-year-old Income Tax Act. The bill will be introduced and potentially tweaked based on feedback from taxpayers and experts.

India’s income tax collections have risen significantly, driven by a rapidly expanding taxpayer base. In 2023-24, a total of 86 million income tax returns were filed, an 11% increase over the ...

A seemingly routine ruling by India’s top tax officials went off like metal in a microwave. The government laid out a three-tiered system for taxing popcorn depending on if it is packaged or ...

The Income Tax department raided the homes and offices of producers linked to Pushpa-2 and Dil Raju in Hyderabad, probing potential tax evasion. The Income Tax department conducted raids on ...

India, separately on its part, has said that the movement of skilled professionals is an important part of India-U.S. ties and benefits both countries amid a debate over H-1B visas on which Trump ...