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New income tax rules from April 1, 2026: From HRA relief to new ITR deadlines, key changes explainedNew income tax rules: Significant income tax changes are coming from April 1, 2026, with the Income Tax Act of 2025 replacing the 1961 act....
How I-T Act 2025 can reduce litigation and advance ease of doing businessIndia's upcoming I-T Act 2025 offers a chance to build certainty in tax administration. Implementing a modern digital manual and system-lev...
Double tax trouble? Here are 5 changes that draft Income Tax Rules 2026 must addressDraft Income-Tax Rules 2026 aim for voluntary compliance but require crucial changes to prevent taxpayers from paying twice. Key issues inc...
Budget 2026 makes TDS/TCS deduction rules mandatory, know how it will help in reducing disputesBudget 2026 has made CBDT guidelines mandatory for all property TDS and transaction participants. This move aims to prevent disputes and li...
Income tax budget 2026 highlights: From tax relief to tax reforms - how individuals will be impactedThe Budget adopts a measured approach to personal taxation, prioritising structural improvements over immediate tax relief. Through legisla...
Budget has 10 big tax changes for India Inc: What you need to knowUnion Finance Minister Nirmala Sitharaman's eighth Budget emphasizes tax reforms to benefit businesses. Key updates include tax breaks for ...
Budget 2025: TDS, TCS rejig will offer relief to businessesThere are a variety of TDS provisions applicable with different rates and different thresholds. There are about 33 Sections in the Income- ...
Govt to extend time limit for filing updated returns for any assessment yr: FMFinance Minister Nirmala Sitharaman announced an extension for filing updated returns to four years. She proposed exemptions of TCS for edu...
60 TDS rules with 10 TDS rates make life difficult for taxpayers: Can Budget 2025 cut TDS rates to 3?Budget 2025: The Union Budget 2025 presents a crucial opportunity to streamline and simplify TDS and TCS rules, enhancing clarity, reducing...
Budget 2025: Major overhaul in TCS/ TDS regime expected? Here's what the industry wantsUnion Budget 2025 expectations: FICCI proposed simplifying India's tax structure and supporting women's workforce participation for the Uni...
Income Tax Department increases thresholds for filing appeals in tax disputesThe Income Tax Department has increased the minimum thresholds for filing appeals in tax disputes. Appeals can now be filed only if the dis...
Union Budget 2024: FM Nirmala Sitharaman's 10 key announcements for India IncBudget 2024: India's Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25 on Tuesday, impacting India Inc. Key points...
Budget should double standard deduction, raise basic exemption to Rs 3.5 lakh under new tax regime: EYEY recommends significant tax reforms in the upcoming Budget, urging the government to double the standard deduction under the new concessi...
I-T dept expands scope for filing appeals by tax officers, includes TDS disputesCBDT broadens appeal scope for tax authorities without monetary limits for specific cases, including TDS/TCS and undisclosed foreign income...
13 ways the FM can simplify matters for income tax payers in interim Budget 2024: CIIThe Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. A few key steps as suggested b...
Interim Budget 2024: Government may simplify withholding tax mathBudget 2024: There are several tax deducted at source (TDS) provisions with different thresholds and multiple rates. This has created a TDS...
Final ONDC seller to be liable for TCS, CBDT clarifiesIn detailed guidelines, the CBDT said TCS will be collected on the gross amount charged to the customer. In case the buyer receives a disco...
Income tax return filing deadline for FY 2019-20 extended to Nov 30, 2020As announced by the government in a press conference, the due date for all income-tax return (ITR) for FY 2019-20 has been extended from Ju...
Vivad se Vishwas FAQs issued: Litigant can get refund under scheme if more tax already paidThe 'Vivad se Vishwas' Scheme aims at dispute resolution in respect of pending income tax litigation in order to reduce pending litigation,...
Government rolls back 1% TDS on property salesIn the budget, FM had proposed to levy TDS on transfer of immovable property, in a bid to tighten screw on corruption and black money in th...