ITAT Surat held that addition under section 68 of the Income Tax Act deleted since appellant has satisfactorily explained the nature and source of the credit. Accordingly, appeal allowed and addition ...

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 ...

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 ...

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

With the WWE Royal Rumble taking place on Saturday, February 1, the Road to WrestleMania 41 is right around the corner.

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 ...

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 ...

It is important to note that eligible taxpayers who were previously unable to claim the Section 87A tax rebate can now do so ...

Overall tax revenues grew by over 10% in 2024 when not considering the “distorted” Apple payout, the Irish government said ...

Submitting tax-saving proofs on time not only reduces TDS but also streamlines your tax compliance. While the new tax regime ...

The Income Tax Department has released revised Excel utilities for ITR Forms 2 and 3. Additionally, the department has ...