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Section 115BAC

Latest Articles


Old vs New Tax Regime Comparison FY 2025-26

Income Tax : Compare India's old and new tax regimes for FY 2025-26. Find the break-even point based on deductions to choose the best option....

May 18, 2025 5886 Views 0 comment Print

Old Tax Regime vs. New Regime: Which to Choose for Financial Year 2025-26?

Income Tax : Compare the old and new tax regimes for FY 2025-26 to find out which one suits your financial situation, with details on exemption...

April 27, 2025 4116 Views 0 comment Print

Tax Loss Harvesting in FY 2025-26:  A Smart Way to Reduce Your Tax Liability

Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...

April 12, 2025 1335 Views 0 comment Print

Tax Confusion for AOPs: Why CPC Raising Demand Despite 115BAC(1A) Benefits

Income Tax : Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing confli...

February 27, 2025 1215 Views 0 comment Print

Surcharge Rates in New vs Old Tax Regime: Key Differences

Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...

February 25, 2025 3336 Views 0 comment Print


Latest News


Current Income Tax Exemption Framework and Proposed Revisions

Income Tax : An overview of the Government's tax exemption framework, removal of deductions, and proposed revisions to reduce tax liability for...

March 16, 2025 429 Views 0 comment Print

Representation on Non acceptance of 115BAC cases on IT Portal

Income Tax : Rejection of ITRs specifically claiming option u/s 115BAC by filing of Form 10-IE Possibility of major bug in new IT Portal specif...

September 16, 2021 21258 Views 10 comments Print

Section 115BAC of Income-tax Act, 1961

Income Tax : New Income Tax Regime, Section – 115BAC, Income-tax Act, 1961 Tax on income of individuals and Hindu undivided family under ...

August 13, 2021 26379 Views 0 comment Print

Taxpayer opting Lower Tax Rate- Change of Income-Tax Rules

Income Tax : On 26th June, the Central Board of Direct Taxes (CBDT) has made certain changes in  Income Tax Rules vide Notification No. 38/20...

July 8, 2020 1764 Views 0 comment Print


Latest Judiciary


Section 115BAC Benefits Allowed Despite Delay in Filing Form 10IE if Filed with Return

Income Tax : ITAT cochin bench held that the benefits of new tax regime u/s 115BAC shall not be denied even if there is a delay in filing of Fo...

May 2, 2025 654 Views 0 comment Print

Levy of Surcharge Unwarranted as Income Did Not Exceed ₹50 Lakhs: ITAT Mumbai

Income Tax : ITAT Mumbai rules in favor of Lintas Trust on surcharge issue, clarifying no surcharge applies when income is below ₹50 lakh as ...

April 16, 2025 360 Views 0 comment Print

ITAT Grants Relief to Trust: Rules Against 37% Surcharge imposition by CIT(A)

Income Tax : ITAT Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision alig...

March 9, 2025 318 Views 0 comment Print

Bombay HC directs income tax department to modify utility to allow assessee to make claim of rebate u/s. 87A

Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...

February 10, 2025 2823 Views 2 comments Print

Form 10-IE Filed, But Old Regime Return filed: ITAT Pune Rejects New Tax Regime Enforcement

Income Tax : ITAT Pune sets aside CPC's order, ruling that Akshay Malu's return under the old tax regime is valid, despite filing Form 10-IE fo...

February 1, 2025 960 Views 0 comment Print


Latest Notifications


TDS deduction on Salary – Old Regime- New Regime- CBDT clarified

Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that  Each year, employer shall seek information from each of its employees r...

April 5, 2023 30054 Views 1 comment Print

Opted new Tax Regime- Claim conveyance, travel allowance

Income Tax : Perquisites & Allowances to Taxpayer opting Lower Tax Rate Option- Section 115BAC CBDT issued Notification No. 38/2020-Income ...

June 26, 2020 13596 Views 0 comment Print

Tax Rate Option exercise by Employee for TDS on Salary & by Business

Income Tax : An employee, having income other than the income under head profit and gains of business or profession and intending to opt for th...

April 13, 2020 9396 Views 1 comment Print


Latest Posts in Section 115BAC

Old vs New Tax Regime Comparison FY 2025-26

May 18, 2025 5886 Views 0 comment Print

Compare India’s old and new tax regimes for FY 2025-26. Find the break-even point based on deductions to choose the best option.

Section 115BAC Benefits Allowed Despite Delay in Filing Form 10IE if Filed with Return

May 2, 2025 654 Views 0 comment Print

ITAT cochin bench held that the benefits of new tax regime u/s 115BAC shall not be denied even if there is a delay in filing of Form No. 10IE, provided Form 10IE is filed along with the return of income and it is available at the time of processing the return.

Old Tax Regime vs. New Regime: Which to Choose for Financial Year 2025-26?

April 27, 2025 4116 Views 0 comment Print

Compare the old and new tax regimes for FY 2025-26 to find out which one suits your financial situation, with details on exemptions, deductions, and tax slabs.

Levy of Surcharge Unwarranted as Income Did Not Exceed ₹50 Lakhs: ITAT Mumbai

April 16, 2025 360 Views 0 comment Print

ITAT Mumbai rules in favor of Lintas Trust on surcharge issue, clarifying no surcharge applies when income is below ₹50 lakh as per Finance Act provisions.

Tax Loss Harvesting in FY 2025-26:  A Smart Way to Reduce Your Tax Liability

April 12, 2025 1335 Views 0 comment Print

Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liability by selling securities at a loss.

Current Income Tax Exemption Framework and Proposed Revisions

March 16, 2025 429 Views 0 comment Print

An overview of the Government’s tax exemption framework, removal of deductions, and proposed revisions to reduce tax liability for individuals and middle-class taxpayers.

ITAT Grants Relief to Trust: Rules Against 37% Surcharge imposition by CIT(A)

March 9, 2025 318 Views 0 comment Print

ITAT Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision aligns with legal precedents.

Tax Confusion for AOPs: Why CPC Raising Demand Despite 115BAC(1A) Benefits

February 27, 2025 1215 Views 0 comment Print

Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing conflicting tax demands and confusion.

Surcharge Rates in New vs Old Tax Regime: Key Differences

February 25, 2025 3336 Views 0 comment Print

Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and entities.

Budget 2025 (Finance Bill 2025): Income Tax Proposed Amendments

February 22, 2025 2508 Views 0 comment Print

Budget 2025 introduces new income tax amendments, including changes in tax slabs, TDS limits, and rebates under sections 115BAC and 87A.

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