Standard Insurance Portland Oregon

87A rebate will fail to make your tax nil despite income below Rs 12 lakh in these cases, Budget 2025 Experts say Section 87A tax rebate on special rate income is only available in the old tax regime and not in the new tax regime. Read below to know more about Section 87A tax rebate

Returns from ULIP investment to be taxed as capital asset in these conditions, clarifies Budget 2025

Income tax highlights of Budget 2025: Lakshmi blesses middle class taxpayer The government continues to incentivise the new tax regime, making no changes to the existing income tax slabs under the old tax regime for individual taxpayers

Rs 1 lakh cr tax relief to taxpayers: Here's the income tax benefit at different income levels announced in Budget 2025 The change in rates and slabs will benefit all such assessees who opt for the new tax regime in the upcoming fiscal year 2025-26

Now no more prosecution for delayed payment of TCS if its paid by this date: Budget 2025

60%, 70% penal income tax payable when filing updated income tax return in 3rd, 4th year from end of AY: Budget 2025 Additional taxes of 60% apply if filed after 24 months, and 70% if filed after 36 months from the assessment year end. This aims to report omitted incomes while imposing higher penalties for delayed submissions

Big change in this tax free perquisite of a salaried employee in Budget 2025

New income tax calculation after Budget: How much tax will salaried save on incomes of Rs 12.75 lakh, Rs 15 lakh, Rs 20 lakh, Rs 25 lakh under new tax regime It is assumed that he/she claims a standard deduction of Rs 75,000 under the new tax regime

TDS limit for interest income from bank FD hiked from Rs 40,000 in Budget 2025: Check details TDS is deducted by banks on interest exceeding specified limits, with current rules imposing a 10% rate if PAN is available and 20% if not