Key Changes and Reforms to Watch Out For The upcoming Union Budget 2025 is expected to introduce significant reforms aimed at boosting economic growth, enhancing compliance, and simplifying taxation. Here are the key expectations for Budget 2025: Income Tax Reforms Increased Basic Exemption Limit: The current basic exemption limit of ₹2.5 lakh under the old … Read more
What Is Form 16? Filing your Income Tax Return (ITR) is a crucial financial responsibility for individuals whose income exceeds the basic exemption limit. Timely and accurate ITR filing ensures compliance with tax laws and helps avoid fines or legal complications. Understanding Form 16 is essential for salaried employees to simplify the filing process and … Read more
Income Tax Calculator 2025 Income Tax Calculator 2025 As the ITR filing season for 2025 approaches, taxpayers must decide between the old and new tax regimes to minimize their tax liability. Understanding which regime suits you best can help you save significantly on taxes. Income Tax Calculator 2025 To simplify this decision, the Income Tax … Read more
Old vs New Income Tax Regime Old vs New Income Tax Regime The Budget 2025 has introduced a significant relief for salaried individuals by raising the tax-free income limit to ₹12 lakh under the new income tax regime. However, if your annual income is ₹50 lakh, choosing between the old tax regime and the new … Read more
Key Differences and Eligibility Explained Key Differences and Eligibility Explained Filing an Income Tax Return (ITR) can be a daunting task, especially with multiple forms available for different types of taxpayers. Among the seven available forms (ITR-1 to ITR-7), ITR-1 (Sahaj) and ITR-4 (Sugam) are the most commonly used by individuals and small business owners. … Read more
