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Income Tax : Understand the new capital gains tax rules for Gold ETFs & MFs effective April 2025. Learn about holding periods, tax rates, and e...
Income Tax : CBDT’s shift to electronic Form 10F filing poses compliance challenges for resident payers and non-residents, raising concerns o...
Income Tax : Learn about Income Tax Audit Form 10B & 10BB for charitable trusts, recent changes, filing deadlines, and compliance under Section...
Income Tax : Updated TDS & TCS rates from April 1, 2025. Check applicable thresholds, deductions, and compliance requirements for various payme...
Income Tax : Understand Section 43B(h) of the Income Tax Act, MSME classification, payment timelines, tax disallowance, interest on delays, and...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Jaipur quashes tax addition and penalty against 82-year-old senior citizen, finding no fault in her investment claims and sup...
Income Tax : Kerala High Court rules a Section 263 order is not a closed remand, allowing challenge to subsequent assessments without separate ...
Income Tax : ITAT Surat condones appeal delay due to non-service of assessment order, remands case for fresh adjudication, ensuring fair hearin...
Income Tax : ITAT Cochin mandates disclosure of 3rd party evidence to assessee for valid assessment, remanding cases for fresh adjudication....
Income Tax : Bombay HC condones delay in electronic filing of Form 10B for Borivli Education Society, ruling that manual submission within time...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Exemption to news agencies under clause (22B) of section 10 of Income Tax Act is proposed to be withdrawn from assessment year 2024-25
Sums on which tax is required to be deducted under section 194LBA of Income Tax Act shall be eligible for certificate for TDS deduction at lower or nil rate
Budget 2023 amends section 9(1)(viii) of Income Tax Act to extend deeming provision to sum of money exceeding fifty thousand rupees, received by a not ordinarily resident, without consideration from a person resident in India.
Section 87A rebate increased from the current Rs. 5 Lakhs to Rs. 7 Lakhs in the New tax regime. Currently, those with income up to 5 lakhs do not pay any income tax in both old and new tax regimes. The budget proposes to increase the rebate limit to 7 lakhs in the new tax regime. Thus, persons in the new tax regime, with income up to 7 lakhs will not have to pay any tax.
BUdget 2023: Article explains consequences & implications of New Income Tax slabs and what are its direct effect on a common man.
Understand the importance of tax laws & regulations to reduce your tax bill & avoid legal trouble. Get informed on deduction & credits to help manage your finances & investments.
Understand the changes in the Direct Tax & Indirect Tax proposals of Budget 2023 to make the best financial decision for yourself.
Understand the Union Budget 2023 tax exemption on life insurance policies & payments to MSEs. Learn about Section 10 (10D) income tax exemption on premiums & more in this article.
Budget 2023 introduces Concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of income Tax Act.
Discover the dark side of the Budget 2023 Trump Card- the new income tax regime. Find out the reduced tax rates & increased exemptions unveiled by FM Nirmala Sitharaman & how it differs from the old income tax regime.
