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The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, there was no restriction on how long these corrections could be made, leading to frequent and sometimes dubious revisions. This change aims to bring more transparency and prevent misuse.
Budget 2025 claims tax-free income up to ₹12 lakh, but hidden conditions may surprise you. Discover what’s really behind this new tax benefit.
Received an SMS about Section 80GGC deductions? Learn why the Income Tax Department is scrutinizing claims and what steps to take if you’ve donated or made an error.
Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unexpected tax demands for taxpayers.
Key tax changes from the July 2024 Budget effective October 1. Covers TDS rates, share buyback taxation, VSV 2.0, and other important reforms for taxpayers.
Learn how to validate bank accounts for income tax refunds for AY 2024-25. Ensure a smooth refund process by following these essential steps.
From October 1, 2024, Indian travelers must obtain a Tax Clearance Certificate (TCC) before flying abroad, ensuring all tax liabilities are cleared.
Explore the Income Tax Departments Mismatch Campaign, its implications, and the complexities faced by taxpayers. Learn how to respond and avoid potential litigation.
Explore key points on Tax Collected at Source (TCS) changes in Budget 2024. Uncover implications, limits, and amendments affecting foreign remittances under Liberalised Remittance Scheme (LRS).
Explore FAQs on the recent amendment to Section 43B of the Income Tax Act, 1961, affecting MSME payments. Learn about applicability, consequences, and practical compliance.
