Marginal Tax Relief Explained: The concept of marginal tax relief is old. It applies when your income is slightly higher than the tax-free income limit. It allows you to pay tax only equal to the incremental income. But how does it apply? Who benefits from it? What will be its significance for the financial year…
Income Tax Season: With high income comes high tax liability. People love to earn a high income, but as it rises, they find it difficult to save tax, irrespective of the tax regime they are following. The new tax regime for the financial year 2025-26 provides a tax-free income up to Rs 12 lakh, while…
Income tax return (ITR) filing has already started for FY 2024-25. Meanwhile, Income Tax (I-T) Department has extended the deadline to file ITR for FY 2024-25 to September 15, 2025. The last date was July 31, 2025 earlier. There are two tax regimes- old and new regime that taxpayers can choose as per their salary…