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Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Comprehensive list of problems and their solutions relating to short TDS payment & short TDS deduction defaults issued in the intimation U/s 200A
CONSEQUENCES OF SUBMISSION OF RETURN AFTER DUE DATE- If a return is submitted after the due date, the following consequences will be applicable: 1. The assessee will be liable for penal interest under section 234A.
Inclusion of others Incomes in the income of the asses see is called Clubbing of Income and the income which is so included is called Deemed Income. It is as per the provisions contained in Sections 60 to 64 of the Income Tax Act.
Section 87A of the Income Tax Act, 1961 was introduced in Finance Act, 2013 to give benefit to a large number of people whose net total income is less than Rs. 5,00,000/-. The rebate under this section is available to resident individuals from A.Y. 2014-15. The rebate available is maximum of 1) 100% of tax payable on total income or 2) Rs. 2,000/-.
Understand the tax implications of working abroad for a short period. Learn about the key considerations and avoid any surprises.
Form 16 or 16A are provided by employer to employee as a proof of tax deduction. At the end of the financial year, tax payers file their income tax returns (ITR) from the income tax details provided in form 16 or 16A. On the other side, as a part of e-governance, tax payer is provided 26AS annual statement showing his total TDS deducted during the year. This facility is available on income tax portal www.incometaxindia.gov.in.
Order under section 138(1)(a) of Income-tax Act, 1961 dated 25.07.2018 issued by the Central Board of Direct Taxes (CBDT), specifying income-tax authorities for furnishing specified information to Director General, Central Economic Intelligence Bureau (CEIB), Department of Revenue, Government of India
Central Government, hereby specifies Director General, Central Economic Intelligence Bureau (CEIB), Department of Revenue, Government of India under section 138(1)(a)(ii) of the Income-tax Act, 1961 vide Notification No. 34/2018- Income Tax dated: 25th of July, 2018
There are 6 amendments in existing clauses of form 3CD Income Tax Audit Report and 9 different new insertions/ additional clauses for disclosure purposes.
Due to technical issues, Aadhaar OTP for e-verification is unavailable. This will be enabled shortly. Taxpayer can use the other options to e-Verify the Returns.
