Income Tax : Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing confli...
Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...
Income Tax : Budget 2025 introduces new income tax amendments, including changes in tax slabs, TDS limits, and rebates under sections 115BAC an...
Finance : Union Budget 2025 focuses on growth engines like MSME, agriculture, and exports. Major tax reforms include a ₹12L exemption limi...
Income Tax : Union Budget 2025-26 introduces tax reforms, revised income tax slabs, increased rebate under Section 87A, and changes in TDS/TCS ...
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...
Income Tax : New Income Tax Regime, Section – 115BAC, Income-tax Act, 1961 Tax on income of individuals and Hindu undivided family under ...
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...
Income Tax : ITAT Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision alig...
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 ...
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...
Income Tax : Bombay HC clarifies that rebate under Section 87A can be adjudicated during assessment, not restricted at the threshold based on S...
Income Tax : ITAT Kolkata held that denial of concessional tax rate benefit under section 115BAC of the Income Tax Act merely for delayed filin...
Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees r...
Income Tax : Perquisites & Allowances to Taxpayer opting Lower Tax Rate Option- Section 115BAC CBDT issued Notification No. 38/2020-Income ...
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...
Bombay HC clarifies that rebate under Section 87A can be adjudicated during assessment, not restricted at the threshold based on Section 115BAC tax calculation.
ITAT Kolkata held that denial of concessional tax rate benefit under section 115BAC of the Income Tax Act merely for delayed filing of form no. 10IE not justifiable since the substantial justice should not be denied due to technical lapse.
Bombay HC examines Section 87A rebate issues due to ITR software changes post-July 2024, affecting taxpayers’ rights. Interim relief granted; final hearing on Jan 2025.
Learn the key changes in income tax slabs for AY 2024-25 & 2025-26 under section 115BAC, including standard deductions and new tax rates.
Explore detailed income tax rates for individuals, HUFs, and firms over the past 10 years, including surcharges and cesses, for both old and new tax regimes.
Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosures for accurate compliance.
Learn about deductions under Section 80TTA and 80TTB, including eligibility, limits, and who can claim these tax benefits.
Discover the key changes in India’s Income Tax Law from the Union Budget 2024-25. Highlights include revised tax slabs, increased deductions, and simplified taxation.
Read the full text of the ITAT Pune order in Akshay Devendra Birari Vs DCIT regarding the allowance of benefits under the new income tax regime. Learn about Form 10IE requirements and its impact on income tax assessments.
Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates and the new tax regime options.
