Financial Year 2021-22
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, …
As per budget 2021, no Income Tax Return filing requirement for senior citizens (Aged 75 years and more) having only pension and interest income.
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 Slabs. This type of taxation …
The New Income Tax Slab (New Tax Regime) was introduced vide section 115BAC, which is applicable to individual and HUF assessee only and allows them to pay tax at lower rates.
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 …