income tax

Many taxpayers mistakenly believe they don't need to file an Income Tax Return (ITR) if they incurred a financial loss. However, filing your ITR, even in a loss year, offers significant advantages and is a legal requirement.…

When filing Income Tax Returns (ITR), specific incomes are often omitted due to ignorance or oversight, not deliberately. This article highlights crucial incomes that must be included in your ITR. Many salaried individuals…

Senior citizens planning to liquidate assets such as real estate, stocks, mutual funds, bonds, gold, or urban agricultural land for post-retirement income must be aware of capital gains tax implications. Capital gains tax…

Homeownership dreams come with financial benefits! Indian tax laws offer significant deductions for home loan borrowers.  Here's how to leverage them: Tax deductions on Home Loan interest  Reduce your taxable income by…

Understanding income tax deductions is crucial for minimizing your tax burden in India.  This guide explores tax deductions for Assessment Year (AY) 2024-25 (Financial Year 2023-24) and helps you navigate the two available…