The Ministry of Finance, Dept. of Revenue has recently notified vide Notification No. 27/2025 dated 4th April 2025, that provides TDS exemption on certain withdrawals from the National Savings Scheme… Read more »
It is mandatory to provide tax computation of each employee while filing the TDS Return on Salary for Quarter 4 as per the format of Annexure II in Form 24Q…. Read more »
The Income Tax Department has released a new version of the File Validation Utility (FVU) to validate TDS / TCS returns before submission. This update introduces several enhancements and changes,… Read more »
Section 87A provides a tax rebate to resident individual taxpayers, reducing their income tax liability if their taxable income falls within a specified threshold. The rebate directly lowers the tax… Read more »
As it seems evident, gradually the ‘Old Regime’ for computing income tax is being phased out, from FY:24-25, each tax payer has been placed in the ‘New Regime’ for taxation…. Read more »
In a nutshell and quite obvious, one should opt for the regime where the tax liability is lower. Determination of tax liability Following factors are involved to determine the tax… Read more »