Recent changes to tax exemptions and allowances, including increased education, hostel, and HRA limits, have made the old tax regime more competitive against the new regime, prompting salaried employees to re-evaluate their choice for the current financial year.
With Income Tax Act 2025 in force, your tax choice can quietly cost you big money if you're not paying attention. Ramalingam Kalirajan explains how
A key mistake would be continuing to rely on provisions of the Income-Tax Act, 1961, where the new law now applies, and vice versa.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU Yogendra Arora answers readers' personal income tax queries.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
The most common mistake is investing without assessing suitability and long-term implications.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Trade unions have decided to launch a phased, consistent struggle to press for the withdrawal of the labour codes and go on a countrywide general strike in February next year, a statement said on Tuesday. The date of the strike will be announced on 22nd December 2025 in the next meeting of the joint forum of central trade unions, a statement said.
Let us evaluate various possible situations an individual can find himself in and understand what the Income Tax Act permits him to do.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
Tax evaders, BEWARE! The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Home loan expert Harsh Roongta has the answer.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Income Tax Department can easily detect such illegal activities and the penalties could be huge.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
rediffGURU T S Khurana answers readers' personal income tax queries.
Taking the advantage of both is a tricky affair.
It depends on the city and the rental being paid.
Normally, most of us have this understanding that whatever HRA amount we receive as part of our salary is the maximum amount that is considered for tax rebate under HRA. This is NOT correct though. Read on to get the details.
We take up for discussion the tax exemption you can claim from your house rent allowance.
A look at different scenarios in which you can and cannot claim HRA.
The policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
Do you know that you can claim tax benefits on rent paid even while housing rent allowance is not a part of your salary? Get Ahead Tax expert Mahesh Padmanabhan tells you how, how much and under which section you can claim tax benefits.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
House Rent Allowance (HRA), is an important component in most salary slips. Here are 7 must knows to help you utilise this component of your salary in a tax-efficient manner.
A number of tax department officials PTI spoke to said the circular does not state that such a document has to be a 'sworn affidavit' or a 'notarised document'.
When submitting house rent allowance receipts, claiming that you pay rent to a close relative like parents, siblings or spouse, ensure that you have supporting documents to substantiate it.
Here's why you can claim tax deduction on interest paid on your home loan as well as claim deduction on house rent alowance.
Can one claim both HRA and home loan benefits? This seems to be a confusing factor for most tax payers.
CBDT recently lowered threshold for this to Rs 8,333 a month. If you don't furnish this, a higher tax will be deducted at source from your income.
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