Income Tax News

CBDT has vide Circular no. 13/2024 Dt. 26.10.2024 extended the due date for filing Income tax return for AY 2024-25...

Form-1 shall be furnished electronically under digital signature, if the return of income is required to be furnished under digital...

The committee invites public inputs and suggestions in four categories: Simplification of Language, Litigation Reduction, Compliance Reduction, and Redundant/Obsolete Provisions

From FY 2023-24, Income tax department has made new tax regime as the default tax regime for Individual, HUF and...

Finance Act, 2024 has made various changes under the Income tax act especially in TDS provision which shall be applicable...

Thus, due date for all audit Forms such as Form 3CA-3CD, 3CB-3CD, Form 10BB, Form 10B, Form 10DA, Form 29B...

Below is a table where, Income tax department has released a list of FAQ discussing various situations where an Income...

In view thereof, it is reiterated that the ITCC under Section 230(1A) of the Act, is needed by residents domiciled...

Below is a table where, Income tax department has released a list of FAQ discussing various situations where an Income...

Although in the circular they have mentioned that higher TDS shall not be charged, however no resolution has been provided...

wherein as per the proposed amendment the long term immovable property owner will have the option to determine tax at...

Below are the FAQ's issued by Income tax department in relation to the change in Capital gain provisions under the...

However, while processing the return the Income tax department is showing such return as defective return under section 139(9) of...

Tax rates on capital gain increased: STCG rates on certain assets will be made 20%. LTCG rates on certain assets...

The issue has been arisen because of the proviso added by Finance Act, 2023 which states that wherein total income...