Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : This guide explains the tax benefits, deductions, presumptive taxation schemes, and compliance relaxations available to small busi...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims....
Income Tax : From April 2025, standard and family pension deductions will increase to ₹75,000 and ₹25,000 under the new tax regime, boostin...
Income Tax : Discover the Ministry of Finance's latest tax changes: ₹75,000 standard deduction, enhanced pension benefits. Potential savings ...
Income Tax : Perquisites includes the value of any concession in the matter of rent respecting any accommodation provided to the assessee by hi...
Income Tax : Cautionary Advisory on Reports of tax evasion by under-reporting income or inflating deductions/Exemptions by salaried taxpayers. ...
Income Tax : The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable...
Income Tax : The ITAT Pune held that compensation received under an Early Retirement Scheme could not be taxed as profits in lieu of salary und...
Income Tax : The Income Tax Appellate Tribunal (ITAT), Chennai, held that an ex-gratia payment received by an employee upon the closure of the ...
Income Tax : In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary ...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : Explore the ITAT Delhi ruling on Devi Dayal Vs DCIT regarding taxation of salary earned by a non-resident outside India. Detailed ...
Income Tax : CBDT amends Income-tax Rules 1962. This change, effective August 21, 2025, revises Rule 21AIA, omitting sub-rule (4) and redefinin...
Income Tax : CBDT notifies new perquisite rules under Section 17(2); salary limit ₹4 lakh and gross total income limit ₹8 lakh for claiming...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : Corrigendum for the Notification bearing G.S.R. No. 615 (E) dated 18.08.2023 i.e. Income Tax Notification No. 65/2023 dated 18th A...
Income Tax : CBDT has modified Income Tax Rules, 1962, to determine the value of perquisite for residential accommodation provided by employers...
Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salary, house property, business, capital gains and other income.
This guide explains the tax benefits, deductions, presumptive taxation schemes, and compliance relaxations available to small businessmen under the Income-tax Act. It provides a practical overview of the provisions applicable for AY 2026-27.
CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing for small investors.
This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax Act. It also covers HRA, provident fund, gratuity, pension, Form 12BB, Form 16, and relief under Section 89.
The ITAT Pune held that compensation received under an Early Retirement Scheme could not be taxed as profits in lieu of salary under Section 17(3)(i). Following earlier judicial precedents, it directed deletion of the addition.
The Income Tax Department is using AI, data analytics, AIS, and PAN-based verification to identify incorrect HRA exemption claims. The article explains common reasons for scrutiny, new compliance requirements, and ways to avoid rejection.
Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by employees. Exemptions apply for loans up to ₹20,000 and specified medical treatment loans.
Eligible individuals, non-corporate taxpayers, and senior citizens can avoid TDS on specified incomes by furnishing Form 15G or Form 15H when prescribed conditions are met. The rules also mandate UIN allotment, quarterly reporting, and seven-year record retention by the payer.
The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retirement compensation under the amended law. The guide clarifies exemption limits, deduction eligibility, and taxable components of retirement benefits.
This guide explains the tax treatment of salary allowances, exemptions, and deductions available to salaried employees. It highlights how eligible claims can reduce taxable income under the Income-tax Act.
