India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc
CA, CS, CMA : Explore 375 key legal compliances and updates across FEMA, Income Tax, and GST for March 2025. Stay informed on filing deadlines a...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...
Income Tax : Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings und...
Income Tax : Learn about capital gain tax exemptions on property under redevelopment, including eligibility under Section 54 and implications f...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- Sunday�...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...
Income Tax : Madras High Court held that extension of period for bringing immovable property to sale by auction is justifiable since time limit...
Income Tax : Madras High Court held that lease rent received from letting out property in industrial park is chargeable to tax under the head �...
Income Tax : ITAT Ahmedabad held that AO had no jurisdiction to initiate proceedings u/s. 153C of the Income Tax Act beyond permissible period ...
Income Tax : Explore the impact of book acceptance or rejection on taxation with insights into grounds for rejection and factors favoring accep...
Income Tax : Kerala High Court overturns rejection of Snehatheeram Charitable Trust's application for 80G certificate under Income Tax Act, 196...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...
Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...
You don’t need to get a Tax audit if you want to carry forward losses of F&O, provided- 1. The Turnover* is below 1 Crore in PY and if cash receipts/cash payments exceed 5% of total receipts/payments 2. The Turnover* is below 10 Crore (for PY 2021-2022) or 5 Crore (for PY 2020-2021) in case cash receipts/cash payments do not exceed 5% of total receipts/payments 3. If you have not chosen 44AD last AY and now choose to opt out
First of all, we should understand the concept of – Why Tax Relief is given to Taxpayers? Income Tax is Calculated on Assessee Taxable Income (which is arrived after summing up of Income of Five Heads – Income from Salary Head , Income from House Property , Income from Profession and Business and Income From […]
The Income Tax department grabs various information/ details about the income received and material transactions undertaken by the individual in the respective Financial Year from various sources. A compiled and comprehensive version of the same is now available in the form of an ‘Annual Information Statement’. ‘Annual Information Statement’ covers information in 50 different categories. […]
Merging information from different sources like TDS; SFT; etc., the Government has recently developed a new comprehensive statement known as ‘Annual Information Statement’. Along with the ‘Annual Information Statement’, a summarized view of the information is made available to the taxpayer in a statement known as ‘Taxpayers Information Summary’. The present article deals with one […]
There is a merciful part tucked away among us all. What’s more, the possibility of getting out there and working on something for society additionally probably entered our thoughts ordinarily. Be that as it may, how continually have we felt complimentary to do it? We get so up to speed in our everyday lowly that […]
Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date. More than 46.11 lakh ITRs were filed on 31.12.2021.
Starting, owning, or doing a business in India comes with important compliance that a business irrespective of its structure, has to adhere to during a financial year. Be it filing of Income Tax Return or GST Return or complying with the ROC Annual filing, a business has to keep a close watch over the deadlines […]
District Taxation Bar Association (Direct Taxes), Ludhiana has made a representation to FM Smt. Nirmala Sitharaman Ji and requested for extension of time for filing income tax returns in the light of the issues and problems being faced by the Members & the Assessees. District Taxation Bar Association (Direct Taxes), Ludhiana Dated: 27.12.2021 To Smt. […]
Are you planning to avail a home loan? Have you already availed a home loan but are not sure if you should prepay your loan or keep it as it is because of the associated tax benefit? If so, this article may help you decide your way forward. Although your bank must have already educated […]
Every assessee is required to submit to the Return of Income to the Income Tax Department under section 139(1) of Income Tax Act, 1961. The Return of Income can be filed by the assessee in the Form prescribed by the Department in this regard. Here in this article, we will discuss about the various types […]
