HRA Tax Relief for ITR FY 24-25: In the old tax regime, salaried-class individuals who receive house rent allowance (HRA) as part of their salary may claim tax benefits against the rent paid. But how will you know the maximum tax benefit you can claim? Will it be counted on the basis of the HRA…
With the due date for filing income tax return (ITR) approaching, taxpayers are in a state of confusion regarding the rebate under Section 87A of the Income Tax Act. One of the main reasons for this is the last budget 2025 announcement, which had sought to raise the rebate to Rs 60,000. But, it does…
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…