Eligible taxpayers who have income up to Rs 5 lakh/7 lakh can claim tax rebate under section 87A up to Rs 12,500/25,000. The ...

Budget 2025 aims to simplify tax filing, reduce disputes, and foster a transparent, taxpayer-friendly system. The upcoming Union Budget 2025-26 is poised to introduce significant changes to India's ...

At present, small tax-payers with special rate income such as short-term capital gains are unable to claim the rebate under section 87A, even if their income is below the basic exemption limit, as the ...

Taxpayers must note that the deadline for filing a belated income tax return or submitting a revised return for the ...

According to a report, Union Finance Minister Nirmala Sitharaman is set to announce an overhaul of the Income Tax Act of 1961 ...

Not filing an ITR on time can have numerous consequences, from penal interest and late fees to possible jail time. Meanwhile, if you file your return within the period for filing a belated return and ...

Sharmistha Mukherjee, daughter of former President Pranab Mukherjee, told India Today that the memorial controversy reflects ...

This is the hilarious moment a tourist was sent on a wild ride in Heilongjiang, China on November 11, when the ostrich she was sitting on suddenly began running away. She was thrown off, but not only ...

In the matter abovementioned ITAT deleted addition made on account of undisclosed cash deposits during demonetization period after observing that assessee has substantiate means of income for ...

ITAT Ahmedabad held that interest received by co-operative society from SBI, which is a Nationalized Bank, is not allowable as per the section 80 (P) of the Income Tax Act. Accordingly, AO directed to ...

Long-term capital gains tax on jewellery can be exempted if the sale proceeds are reinvested in a residential house within a ...

The changes involve simplifying the language and rationalizing information by using formulas and tables, and no adjustments to tax rates and policy ...