Financial Literacy News: Filing income tax returns for FY 2024-25 is necessary if taxable income exceeds ₹3 lakh (new regime) or ₹2.5 lakh (old regime). Mandatory filing also ...

The benefit of ₹1.25 lakh exemption and the basic exemption limit are available, but slab rates are not applicable, and ...

Foreign tax credit is a key relief for Indian taxpayers with foreign income, but ambiguities in domestic laws and DTAAs ...

Oman becomes the first country in the Gulf Cooperation Council (GCC) to introduce a personal income tax, targeting high ...

ITR Filing 2025: Not everyone needs to file an Income Tax Return (ITR) in India. Filing is mandatory only if your taxable income exceeds the exemption limit or certain conditions like high ...

You also get exemption for income arising outside India provided that the tax on that income is paid by the government. 10(10) Death-cum retirement gratuity from government, payment made under ...

Rent is Rs 8,333 per month (Rs 1 lakh/year) or below: You don’t need to submit landlord’s PAN number for claiming tax ...

Personal income tax in India has always followed a progressive slab system with various deductions and exemptions. Until February 2020, there was only one tax regime – Old Tax Regime – in the ...

According to Indian tax laws, filing ITR is mandatory only if your income exceeds the basic exemption limit, which varies depending on the tax regime chosen - old or new. Minimum Income Required ...

ITRs of persons and entities that have been subject to a survey and those that have been searched after 1 April 2023 will ...

India taxes crypto gains at 30%, which is just the beginning. Discover how harsh TDS rules and loss restrictions are driving investors offshore.

These incentives typically include reduced corporate income tax rates, exemptions from various taxes, and investment-based tax credits. For instance, Brazil provides tax breaks on IT equipment ...