New versus Old regime: Does opting for the old income tax regime for TDS on salary make ITR processing, refunds easier? – Times of India

[ad_1] New versus old tax regime: At the beginning of each financial year, salaried individuals must select an income tax regime for TDS (tax deducted at source) on their salary. They need to tell their employers whether they prefer the old or new tax regime, as their employer will deduct taxes from their salary according…

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TDS on salary: Don’t pay higher tax! How to choose between new and old income tax regime | Business – Times of India

[ad_1] New versus old income tax regime – understanding TDS on salary: The new financial year, 2024-25 has begun starting from April 1. However, the income tax laws from the previous year, FY 2023-24, remain in effect for FY 2024-25 because the government has not made any changes. Potential changes may be announced in the…

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Understanding HRA exemption rules & benefits: Saving tax on rent allowance – know eligibility, calculation, documents required & more | Business – Times of India

[ad_1] HRA tax exemption rules: House Rent Allowance (HRA) is a common component of many employees’ salary packages. Unlike basic salary, HRA isn’t entirely taxable, subject to specific conditions outlined in Section 10(13A) of the Income-tax Act, 1961.The exemption on HRA reduces the taxable portion of an employee’s income, thus offering a means to save…

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