Millions of people in California still have unused inflation relief money from COVID time. The payment ranges up to $1,050 and must be used...

The income tax department will send notices to individuals who have not filed tax returns despite tax deduction at source. The department i...

The government should enhance the standard deduction to Rs. 1,00,000 from the current level of Rs. 50,000 This would increase the disposabl...

New form ITR-U was made available in May this year for taxpayers to update their income tax return (ITRs) with any income or earnings that ...

The tax rules on cryptocurrencies and other digital assets will come into effect from the new financial year, i.e., FY2022-23. However, tax...

An additional 25 per cent on the due tax and interest would have to be paid if the updated ITR is filed within 12 months, while the rate wi...

The surcharge on long-term capital gains tax from equity funds and listed stocks is already capped at 15%. But for gains from other assets,...

While no changes have been proposed to the income tax slabs and tax rates, the Budget contains some proposals which will impact individual ...

On the GST front, the FM announced that the GST revenues have been buoyant despite the pandemic and saw a record collection of Rs 1,38,394 ...

Apart from the host of tax-related areas that Budget 2022 touched or clarified upon, there were also a few aspects that the Finance ministe...

As per the budget memorandum, individual taxpayers will not be able to use this facility if the updated return leads to lesser total tax li...

Many people were disappointed by this budget since there was nothing in it that would aid the average person who is drowning in debt, payin...

Based on a trust-based governance mechanism, the Finance Bill has now allowed taxpayers to file an 'Updated Return' within two years from t...

In the field of taxes, less is always more. No new taxes were proposed nor were taxes raised. Instead, by limiting the surcharge on capital...

The focus of this the Union Budget 2022 is expected to be on speeding up India's recovery from the pandemic shock, as well as strengthening...

Taxpayers expect that Budget 2022 will include tax rate and surcharge reductions, as well as an increase in the deduction available under s...

The deduction of Rs 1.5 lakh in a financial year is available under section 80EEA of the Income-tax Act, 1961. Deduction on payment of inte...