Income Tax : Explore income-tax rates applicable over the last ten assessment years for individuals, companies, firms, LLPs, HUFs, and co-opera...
Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime....
Income Tax : The Finance Act, 2025, introduces new tax slabs and a higher rebate threshold for salaried individuals. This summary explains how ...
Income Tax : An overview of the Government's tax exemption framework, removal of deductions, and proposed revisions to reduce tax liability for...
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Tax : The ITAT Pune held that the option exercised under Section 115BAC continues for subsequent years unless it is withdrawn or becomes...
Income Tax : ITAT Mumbai ruled that the amended first proviso to Section 87A refers to total income and does not distinguish between normal inc...
Income Tax : ITAT Chennai held that inclusion of taxable long-term capital gains in total income does not disentitle an assessee from claiming ...
Income Tax : ITAT Rajkot held that Section 87A does not expressly prohibit rebate on tax payable on short-term capital gains under Section 111A...
Income Tax : ITAT Agra held that neither Section 87A nor Section 111A expressly prohibits rebate on tax payable on short-term capital gains for...
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...
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.
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 Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision aligns with legal precedents.
Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing conflicting tax demands and confusion.
Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and entities.
Budget 2025 introduces new income tax amendments, including changes in tax slabs, TDS limits, and rebates under sections 115BAC and 87A.
Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It has more than 3800 members comprising of Advocates, Chartered Accountants, and tax practitioners.
Union Budget 2025 focuses on growth engines like MSME, agriculture, and exports. Major tax reforms include a ₹12L exemption limit & updated GST provisions.
Union Budget 2025-26 introduces tax reforms, revised income tax slabs, increased rebate under Section 87A, and changes in TDS/TCS rules for taxpayers.
Budget 2025 brings new income tax slabs with benefits for the middle class, including higher exemptions, marginal relief, and a standard deduction for salaried individuals.
