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Income tax

Income Tax Warning to Salaried Taxpayers: 11 things every Taxpayer should be careful about!

Income Tax Warning to Salaried Taxpayers A few days back (on April 16, 2018) Income Tax Department issued cautionary advisory to Salaried Taxpayers about under-reporting of income and inflating deductions/exemptions while paying taxes. This was prompted by some of the recent cases of salaried caught by income tax officials. You can read the advisory below: Also Read: Everything you need to […] Continue reading →

Income Tax Calculator for FY 2019-20 [AY 2020-21] – Excel Download

Income Tax Calculator for AY 2020-21 Budget 2019 has made some changes to Income tax for individual – the highlight being full tax rebate for individuals earning below Rs 5 Lakhs. There has been no changes in the income tax slab. We highlight the changes and give you the new tax calculator for FY 2019-20 [AY 2020-21]. Changes in Income Tax Rules: […] Continue reading →

Budget 2019: Income Tax Slabs for FY 2019-20 (AY 2020-21)

Income Tax Slabs for FY 2019-20 in Budget 2019 Your income from salary, business or other income like income from fixed/recurring deposits etc are taxed as per income tax slabs. Full Budget 2019 presented on July5, 2019 has made NO changes in the tax slab. The announcement that individuals with income up to Rs 5 Lakh would get full rebate is through Section 87A.  There […] Continue reading →