Income Tax News

Thus, a person could earn around 770000 under new tax regime and could end up paying only Rs.20800 in tax...

(ii) Form No. 10AB, in case of an application under clause (iii) of the first proviso to clause (23C) of...

Thus, considering the above grievance, CBDT has modified the above circular to provide relaxation and state that in case where...

Thus, revenue cannot go into appeal before above mentioned authority if the tax effect in any appeal as mentioned above...

It is thus advisable to file Income tax return after all SFT details are available on e-filing portal that if...

Additionally, the court noted that the details regarding the source of funds should have been sought from the petitioner's husband...

Once, notice is received u/s 148 of the Act, assessee needs to file Income tax return in response to such...

While it would be open for the AO, for reasons so recorded, to doubt or reject a valuation that may...

Data analysis was carried out in some high-value cases of mismatch between the rent paid by the employee and receipt...

Thus, based on above notification it can be said that if return is verified within 30 days of filing date...

Hence, if you don't have any TDS claim or don't have share transaction you can file the Income tax return...

Although, new tax regime is the default tax regime, tax payers can choose the tax regime that they think is...

148A(b): It deals with issuing show cause notice to assessee and informing him about the information based on which the...

Hence, now this is a practical difficulty where a clarification is sought from Income tax department of how to disclose...

The Income Tax Department, under its commitment to assist the Election Commission of India in curbing the role of black...