Tired of hefty taxes eating into your salary? What if you could build a ₹12 crore, largely tax-free retirement fund and pay zero income tax as a salaried professional? According to Sujit Bangar, founder of TaxBuddy.com, it’s not just a dream—it’s a achievable reality for those earning up to ₹14.65 lakh annually under India’s new … Read more
You’re battling a life-threatening illness, incurring massive medical bills that exceed your health insurance. On top of that, India’s New Tax Regime offers no relief for these out-of-pocket expenses. This “tax the healthy, not the helpless” approach is sparking a growing demand for change. Under the current New Tax Regime, even with a high income, … Read more
Navigating your taxes can feel like a maze, but for salaried employees, Form 16 is your trusty map. This crucial document lays out your total salary, any TDS (Tax Deducted at Source), and how your tax was calculated. Key Updates for Your FY 2024-25 ITR Filing (AY 2025-26) The Income Tax Return (ITR) filing season … Read more
ITR Filing 2025: Can You Switch Your Tax Regime? Here’s What You Need to Know Tax season is in full swing, and with over 12 lakh Income Tax Returns (ITRs) already filed, many salaried individuals are eagerly awaiting their Form 16s to finalize their taxes. A common question on everyone’s mind is: “Can I change … Read more
Unlocking substantial tax savings, even under India’s New Tax Regime, is more achievable than many salaried professionals realize. A real-world example demonstrates how a strategic approach can lead to significant tax relief without impacting your take-home pay. Rs 3.75 Lakh Tax Savings for a Rs 50 Lakh CTC Earner A tax professional, Sujit Bangar, shared … Read more
ITR filing alert 2025-26: Excel utilities for ITR-1, ITR-4 now support LTCG, rent receipts, new tax regime The Income Tax Department has released updated Excel utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for the Assessment Year 2025–26 (Financial Year 2024–25), incorporating critical compliance and disclosure changes aligned with the Finance Act, 2024. These utilities, available … Read more