The committee has been given a six-month timeframe to complete the review, a timeline assured by CBDT Chairman Ravi Agrawal to Union Finance Minister. The Central Board of Direct Taxes (CBDT) has established an internal committee to review and simplify …
New Tax Regime under Income Tax Act The Budget 2020 introduced a new tax regime under section 115BAC, offering individuals and Hindu Undivided Families (HUFs) the choice to pay income tax at reduced rates with fewer exemptions and deductions. This …
Looking to maximize your tax deductions beyond the Rs 1.5 lakh limit under Section 80C of the Income Tax Act? Section 80D is your solution! This section of the Income-tax Act, 1961, provides tax benefits for various healthcare expenses, under …