New I-T Act marks new chapter in India's tax administration, step towards Viksit Bharat: CBDTIndia has a new Income Tax Act, 2025, effective April 1, 2026. This replaces the old 1961 Act, making tax rules simpler and easier to follo...
Who needs to file income tax audit report for AY 2025-26?For AY 2025-26, businesses exceeding turnover limits and certain professionals must file tax audit reports by September 30, 2025, potential...
After STCG ruling, now LTCG also allowed to get Section 87A tax rebate, rules ITAT ChennaiOn August 20, 2025, Chennai ITAT allowed Section 87A tax rebate on long term capital gains (LTCG). This decision favors taxpayers with inco...
87A and STCG: Will recent ITAT ruling on Section 87A allow taxpayer to claim 87A rebate on Short term capital gains while filing ITR?A recent ITAT Ahmedabad ruling has sparked hope for taxpayers seeking Section 87A tax rebates on short-term capital gains (STCG) for FY 202...
Taxable income below Rs 7 lakh: Will you pay zero income tax if this income includes LTCG and STCG for FY 2024-25?Zero tax on incomes up to Rs 7 lakh: Budget 2025 clarified that tax rebate under Section 87A will not be available to incomes that are taxe...
Dalmia Bharat gets SC relief in ₹500 crore KKR investment tax disputeThe Supreme Court has put a hold on income tax reassessment proceedings against Dalmia Bharat and its subsidiaries. This involves a Rs 500 ...
Three things middle-class did not get, despite taxpayer-friendly Budget 2025Middle class in Budget 2025: The Finance Bill presented by the FM on February 1, 2025, had a bonanza for middle-class taxpayers. However, d...
CBDT launches compliance-cum-awareness campaign for AY 2024-25 to assist taxpayers in reporting foreign assets and incomeIndia's Central Board of Direct Taxes (CBDT) has launched a campaign to help taxpayers accurately report foreign income and assets in their...
Over 100,000 new crorepati taxpayers have emerged in India in three years. What’s driving this rise in high earners?India has witnessed a five-fold surge in the number of individuals earning over ₹1 crore in taxable income over the past decade, with the p...
Last date to file ITR: #IncomeTaxReturn trends as users report e-filing portal glitches; will govt extend the deadline?Last date to file ITR:It is crucial to remember that there may be consequences if you file your income tax return after the July 31 filing ...
Stocks in news: ABFRL, Hero MotoCorp, Infosys, RIL, Bharat ElectronicsAditya Birla Fashion and Retail said that its board has approved evaluation of a vertical demerger of Madura Fashion & Lifestyle business a...
PM Modi cites reports to assert India on cusp of new era of economic prosperityIn a post on Linkedin, Prime Minister Narendra Modi said he recently came across two insightful research pieces which would interest all th...
RBI reduces net-worth requirement for non-bank Bharat Bill Payment units to Rs 25 croreBharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extends to all categori...
Bharat Biotech's Covaxin effective against Delta Plus variant of COVID-19: StudyCovaxin, a whole-virion inactivated SARS-CoV-2 vaccine used for mass immunization in the country, showed a 65.2 per cent protection against...
CBDT notifies forms for firms to avail lower corporate taxesThe move comes after the government had slashed corporate tax rate last year in September as a measure to boost economic activity. The base...
Gujarat HC admits plea against TV tariff orderHearing on the special civil application, Justice AY Kogje of the Ahmedabad bench of the Gujarat High Court issued notices to the Union of ...
Focus on control of expenditure, public investmentThe fiscal math appears credible, with nominal GDP growth budgeted at 11.75% and tax collections expected to increase by about 12%.