Live Breaking News & Updates on Leave travel allowance

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Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?

Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?
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Buy phone, car through flexi benefits plan route for extra saving

Flexible Benefits Plan (FBP), though, is available only under the old tax regime, which allows an individual to claim deductions and exemptions under various sections of the income tax Act.

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HRA claims and tax scrutiny: CBDT assures no review of old HRA mistmatch cases; but here's what experts suggest

Financial Literacy News: HRA claims mismatch: Taxpayers should remain cautious. If there's a discrepancy between the rent paid and the rent received by the landlord, potential

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How to claim Leave Travel Allowance: Know eligibility, LTA rules, documents required and other key details | Business

How to claim Leave Travel Allowance: Know eligibility, LTA rules, documents required and other key details | Business
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Income Tax Calculator 2024-25: Which is better old or new regime? Check salary-wise, exemption & deductions calculation

Income Tax Calculator 2024-25: It’s the start of the financial year and if you are confused between the new and the old income tax regime, then we have you covered. While the old tax regime allows for exemptions and deductions like Section 80C, House Rent Allowance, Leave Travel Allowance etc., the new tax regime offers lower tax rates and multiple slabs. Standard deduction is available under both regimes. We take a look at different income levels and common exemptions and deductions you may want to claim, to calculate and analyse the best income tax regime for you. This analysis has been done by Akhil Chandna, Partner, Grant Thornton Bharat. It is important to note that the analysis in the tables is broadly indicative. Each individual should choose their beneficial tax regime on a case-to-case basis. The analysis cannot be standardised.

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SSC GD Constable: Salary Structure, Perks & Benefits, Job Profile

News News: Candidates aspiring to join paramilitary forces like BSF, ITBP, SSB, CISF, CRPF, SSF, NCB, and Assam Rifles as Constable (General Duty) need a compreh

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Are There New Income Tax Rules Effective From April 1?

Are There New Income Tax Rules Effective From April 1?
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LTA exemption: What is Leave Travel Allowance and can you claim it at the time of filing your income tax return? | Business

Financial Literacy News: Salaried individuals typically need to give proof of their expenses and investments to get tax deductions under the Income-tax Act. One common tax exemption available to salaried individuals is the Leave Travel Allowance or LTA. Leave Travel Allowance (LTA), often included in your salary, pays for your vacation travel expenses. It also covers travel costs for family members such as spouses, children (up to two if born on or after October 1, 1998), dependent parents, and dependent siblings.

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NPS taxation in FY25: How to claim tax deductions for National Pension System under old, new tax regimes

Taxpayers should note that the NPS-related deduction under Section 80CCD (2) of the Income-tax Act, 1961, is the only exemption allowed under both the tax regimes.

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Income Tax: How many times can you switch between old and new regime

The new tax regime offers fewer tax deductions and exemptions compared to the old tax regime, which provides various deductions under Chapter VI A from taxable income.

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