Filing your Income Tax Return (ITR) is not just about meeting the basic exemption limit; there are specific scenarios where it becomes mandatory, regardless of your income level.

When it comes to paying taxes on our income, understanding the applicable rates is essential. Each year, during the Union Budget presentation by the Finance Minister, the Income Tax Slab Rates are announced for various categories of taxpayers.

The Finance Minister, Nirmala Sitharaman, delivered the Budget 2020 speech on February 1, 2020. Lasting a record-breaking 2 hours and 30 minutes, her address unveiled several significant announcements that shaped the economic landscape.

In India, a significant portion of taxpayers comprises individuals who earn a salary. It’s imperative for these individuals to grasp the nuances of their salary components and how they impact their tax obligations.