Carry Forward Losses

The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...

Now the limit that can set off against the loss from rented house property has been restricted to Rs 2 lakh per annum.

Did you know that you can file a tax return even if your income for the year is below the taxable limit? If your taxable income is less than the threshold limit of Rs 2.5 lakh in a year, you are not mandated to file income tax return. But if you want to, you can file a nil return.

The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...

Now the limit that can set off against the loss from rented house property has been restricted to Rs 2 lakh per annum.

Did you know that you can file a tax return even if your income for the year is below the taxable limit? If your taxable income is less than the threshold limit of Rs 2.5 lakh in a year, you are not mandated to file income tax return. But if you want to, you can file a nil return.