Under the proposed Union Budget 2025, a ₹60,000 rebate applies to incomes up to ₹12 lakh, enhancing the attractiveness of the ...

The existing provisions of section 275 of the Act, inter-alia, provide for the bar of limitation for imposing penalties. Section 275 of the Act is having multiple timelines for imposition of penalties ...

India announced a series of budget measures, including major investments in agriculture, manufacturing, infrastructure, and ...

The Finance Minister has adjusted tax slabs for the middle class in the new tax regime, offering greater savings and tax ...

The Union Budget 2025-26 has delivered the largest tax exemption hike in two decades, allowing individuals earning up to Rs 12 lakh annually to pay zero income tax under the new regime. This move aims ...

Section 194 of the Income-tax Act mandates that Indian companies must deduct 10% income tax on dividends paid to shareholders who are residents in India, before making any payment. The first proviso ...

The CBDT Chairman also cited the new tax regime (NTR), where there are no deductions or exemptions allowed like the old regime, which has "simple" calculations for a taxpayer, enabling them to file ...

After Finance Minister Nirmala Sitharaman presented the 2025-26 Union Budget in the Lok Sabha on Saturday, it is prudent to learn about the basics of the annual set of documents outlining an ...

Why Govt Took Rs 1 Lakh Crore Revenue Hit For Tax Bonanza A nation’s progress is measured by the quality of its infrastructure, and the Modi government has set new benchmarks in this domain. The ...

Currently, about 74-75 per cent of taxpayers file their returns under the new income tax regime, the official said citing government data.

The government has proposed an amendment to the Income Tax Act, requiring designated reporting entities to disclose transaction details of virtual digital assets (VDAs).

“It is proposed to extend the tax benefits available to the National Pension Scheme (NPS) under sub-section (1B) of section ...