Income Tax Department offers certain tax benefits to senior citizens. An individual between 60 and 80 years is considered a senior citizen person under Income Tax Act, 1961. Here in this post, …
Income Tax Department offers certain tax benefits to senior citizens. A senior citizen is an individual resident between the age group of 60 to 80 years, as on the last day of …
As per the budget 2020, under the new regime, the taxpayer (Individual and HUF assessee) has an option to choose either a new regime or stay in the old regime.
In India, we have a progressive method of taxation i.e. “Higher Income Higher The Tax Payable”. To govern the same taxation in India is determined based on Income Tax Slab which is …
In India, the income tax applies to the range of income, which is called Income Tax Slabs. The income tax slabs keep changing from year to year
Nirmala Sitharaman, the Finance Minister of India presented the Union Budget, 2020 on 1st February, 2020 and introduced new income tax slab. The new tax regime was introduced for regular individuals, senior citizens and HUF, wherein they can pay taxes at lower income tax slab rates.
In India, tax laws divide taxpayers into different groups as per their taxable income and levy income tax at different rates. These groups are called Income Tax Slab