Tax deduction at source complications and their impact on small bond investors
Small or retail investors often invest in bonds to earn predictable returns. TDS affects them by interrupting cash flow and ...
This Is the Standard Deduction for the 2024 Tax Year
W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...
Tax Guru5d
Budget 2025: Key Highlights of Income Tax Proposals
The Budget 2025 introduces significant reforms in personal income tax, aimed at providing relief to middle-class taxpayers ...
Budget 2025: Tax-free income limit under new regime rises to Rs 12 lakh
Union Finance Minister (FM) Nirmala Sitharaman, who presented her eighth consecutive Union Budget on February 1, streamlined ...
Hindustan Times9d
What is standard deduction in income tax and who is eligible?
Standard deduction is a flat amount which is automatically deducted from an individual's annual income. This reduces the total taxable income and therefore, lowers the tax liability.
Yahoo7d
Should you claim a tax credit or deduction on your taxes?
While both offer tax relief, they do so in different ways. Understanding the difference is essential since deductions and credits can be limited by your income. A nonrefundable credit can reduce ...
Revised Income Tax Slabs: How much money will you save in the new regime post Budget 2025? Here’s the math
Finance Minister Nirmala Sitharaman has proposed significant tax reforms for middle-class taxpayers in India. With zero tax on incomes up to ₹12 lakh and reduced rates for higher brackets, here’s how ...