Section 115BAC of the Income Tax Act lays down the tax slabs and rules applicable under the new tax regime.

It is not necessary to attach any documents while filing your returns. However the details given in various documents will have to be used while filling up the online form.

Under section 269ST of the Income Tax Act, receiving more than Rs 2 lakh in cash is prohibited, whether it is a single transaction or the sum of many transactions on the same occasion.

Those filing their returns for the first time must also choose between two tax regimes (with different deduction amounts) and link their PAN and Aadhaar cards in order to enable electronic verification.

The filing of income tax return (ITR) is compulsory for those individuals whose annual income is above the basic exemption limit. According to the Old Tax Regime, the basic exemption limit is still Rs 2.5 lakh for general taxpayers under 60 years of age.

The Income Tax Department has launched a new Excel-based utility version of ITR-2 to make filing easier. This form is designed for individuals and Hindu Undivided Families (HUFs) who do not have any business or professional income.

File your updated Income Tax Return (ITR-U) before March 31, 2025, to correct omissions or errors and avoid penalties. Learn more about filing, deadlines, and additional tax liabilities.

Term insurance plays the vital role of a safety net and ensures one's loved ones are protected in the absence of the primary bread earner.

While pre-existing medical conditions may lead to premium loading or coverage restrictions, being transparent about one’s medical history is essential to avoid claim denials later.