Discover the fundamentals of income tax expense, its calculation, impact on financial statements, and its importance for investors and businesses in this detailed guide.

To estimate your tax liability for FY 2025-26, you can use Financial Express’s online income tax calculator.

Finance Minister Nirmala Sitharaman announced Budget 2024 with new income tax rates, increased standard deductions, and simplified capital gains taxation.

Calculating income tax needs considering a standard deduction of ₹75,000, a 14% employer's contribution to the National Pension System, tax slabs, and cess.

She said those who have an annual salary of ₹ 12 lakh will not be required to pay any income tax. But how much income tax will people with a salary of ₹ 13 lakh pay? Here's how to calculate.

Latest Income Tax Slabs Under New Income Tax Regime FY 2025-26 One should note that once your net taxable income goes beyond Rs 12 lakh, taxation applies to the entire amount.

From April 1, 2025, there is zero tax payable on the taxable income up to Rs 12 lakh. This will happen if an individual opts for the new tax regime for FY 2025-26.

Paytm has floated excel format for UPI transaction statement downloads, aiding tax filing and expense tracking, enhancing financial management for users with linked bank accounts.

NEW DELHI: When capital gains from stocks or equity-oriented mutual funds are the sole income, the income tax calculation differs significantly. If this were the case in 2024-25, there is added ...