As we approach the end of the third quarter, ensuring all critical tasks are in order now will save you from last-minute chaos and potential penalties.

In the 2023 budget, Finance Minister Nirmala Sitharaman announced no income tax for those earning up to ₹7 lakh under the new tax regime.This makes taxpayers with incomes up to ₹7 lakh eligible for a rebate capped at ₹25,000.

House Rent Allowance (HRA) plays a vital role in the compensation packages of numerous employees, aiming to assist in meeting the expenses of renting accommodation. Having a clear understanding of how HRA functions and how to make the most of deductions can greatly influence an individual's tax obligations. This comprehensive guide explores the intricacies of HRA allowances and deductions and provides valuable insight into how to effectively manage this aspect of your financial planning.

Tax season often brings a mix of anxiety and confusion, but understanding how tax brackets work can make the process much smoother.

If a salaried individual earn over ₹50 lakh annually, filing your Income Tax Return (ITR) includes an essential step: Schedule AL (Assets and Liabilities). This requirement aims to enhance transparency by detailing your high-value assets and liabilities.