plays a crucial role in tax planning for individuals under the old taxation regime. Those living in rental properties and receiving HRA can benefit from exemptions, as the new regime does not allow ...

Section 80GG of the Income Tax Act provides tax deductions for individuals paying house rent but not receiving House Rent Allowance (HRA) from their employer. Updated On - 01 Oct 2024 This is ...

7% of Income tax where total income is more than ₹1 crore 12% of Income tax where total income is more than ₹10 crores ...

Income Tax: Explore HRA exemptions and home loan deductions under old tax regime to minimize tax liability effectively. Learn to claim both be ...

The IRS has unveiled its annual inflation adjustments for the 2024 tax year, featuring a slight uptick in income thresholds for each bracket compared to 2023. Your taxable income and filing status ...

The money that is reimbursed is tax-free for the employees and tax-deductible for the employers. Individual Coverage HRA (ICHRA) An Individual Coverage HRA (ICHRA) is relatively new, having only ...

Some of the tax exemptions and deductions that are available are: standard deduction of Rs 50,000 from salary income, tax exemption on house rent allowance, Section 80C, Section 80D and Section 80TTA.

TaxSpanner estimates that Rao can reduce her tax by Rs.1.8 lakh if she claims exemption for HRA, her company offers her the NPS benefit and her pay structure includes some tax-free perks. Sudhir ...

Luckily, you can use certain tax strategies in order to maximize your retirement income. Here are some to consider. Most retirees rely on a few different sources of income, and there are ways to ...

(iStock) Many investors are comfortable with equity and channel their surplus funds into real estate to gain the twin benefits of appreciation and rental income ... tax regime. Can someone claim ...