There are two methods for computing deductible expenses related to a vehicle. Actual costs or standard mileage allowance.

Form 16 is a key document for salaried individuals, summarising income and TDS, simplifying ITR filing, and serving as proof ...

The Government says the change, being introduced from Wednesday, will help to ensure that people on the lowest incomes can ...

The new tax regime also offers a higher standard deduction. Last year, it was raised from Rs 50,000 to Rs 75,000 for salaried ...

Under the new income tax regime, taxpayers can now avail of a standard deduction of up to Rs 75,000, which makes an annual ...

Other commonly available deductions internationally for salaried class include those for house rent, mortgage interest, life ...