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Income tax: Home loan benefits when two houses are self-occupied

There is no restriction on the number of houses a person can own under the provisions of the Income Tax Act. Likewise, there is no restriction on the number of houses a person can avail of the tax benefits for a home loan ....

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Filing ITR On Your Own? Salaried Taxpayers Need To Know These Things

Even as the income tax department has enabled online ITR filing for the assessment year 2024-25 (or financial year 2023-24), taxpayers can now file their returns ....

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ELSS or tax saving funds offer 5% return in March quarter; 56% outperform their benchmark

Out of 39 ELSS schemes, one scheme gave double digit return, 37 schemes gave single-digit return and one scheme gave negative return ....

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new tax regime: What are the new things you ought to know about new tax regime? Anil Rego answers

Anil Rego explains the implications of choosing between old and new tax regimes, emphasizing the importance of deductions like home loan interest. Opting in is necessary for the old regime, which offers specific benefits for tax planning. Rego says: "It makes sense for you to go for the new tax regime if you do not have too much tax saving investments. But you would ideally need to compute it." ....

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Opting for Old Tax Regime? Section 80C, other sections that can fetch you exemption

Section 80C is the most well-known and widely used deduction. But it is mostly for those who will opt for or have already opted for the Old Tax regime. ....

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