New Delhi, July 26: When filing Income Tax Returns (ITR), many individuals accurately report their income and tax information but often overlook crucial tax deductions that could significantly reduce their tax liability. This oversight can lead to taxpayers paying more tax than necessary. If you are filing your ITR for the financial year 2025-26 and … Read more
New Delhi, February 13: The Central Board of Direct Taxes (CBDT) has released the draft of the Income Tax Rules 2026, which proposes increased tax exemptions for residents of Bengaluru, Hyderabad, Pune, and Ahmedabad. Under the new rules, the number of cities eligible for a 50% House Rent Allowance (HRA) exemption for salaried individuals opting … Read more
The government data showed a decline of 1.39 per cent in net direct tax collection to Rs 4.59 lakh crore so far (from April to June 19, 2025) this fiscal year (FY26), compared to Rs 4.65 lakh crore collected in the corresponding period a year ago, owed to slowdown in advance tax mop-up and higher … Read more