Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
19 Jun, 2026, 10.27 AM IST
Why should these taxpayers avoid filing ITR before June 15th for AY 2026-2027Taxpayers are advised to delay filing their Income Tax Returns for AY 2026-2027 until after June 15th. This allows for the accurate updatio...
03 Jun, 2026, 07.17 AM IST
From Rs 6.8 lakh to Rs 4.5 lakh: Redditor explains how to save Rs 2.3 lakh in income tax in a year legallyA Redditor demonstrated significant income tax savings under the new regime by strategically restructuring their salary with components lik...
15 Apr, 2026, 03.45 PM IST
CII Budget wishlist: Tax reforms must seek to simplify, stabilise & digitiseIn a bid to streamline taxation, the Confederation of Indian Industry (CII) has put forth ambitious reforms for the upcoming union budget i...
01 Nov, 2025, 12.39 AM IST
New Income Tax Bill: Expert takesThe new Income Tax Bill 2025 modernizes India's taxation system by simplifying processes, eliminating outdated provisions, and emphasizing ...
14 Feb, 2025, 12.16 AM IST
New Income Tax Bill 2025: Govt proposes taxpayers’ charter to boost transparency & trustThe new Income Tax Bill, being presented in Parliament, includes provisions for the Central Board of Direct Taxes to adopt and declare a Ta...
13 Feb, 2025, 12.11 AM IST
ITR filing deadline: Last date to claim Section 87A tax rebate; do it now by filing revised ITR on or before January 15, 2025Income tax deadline: The last date to file a revised income tax return (ITR) is January 15, 2025 as per the order of the Honourable Bombay ...
15 Jan, 2025, 01.22 PM IST
ITR portal shows inflated income to some taxpayers; Rs 450 showed as Rs 45000. Here's what to do if you face similar issueThe Income-tax department said on X said that they have "identified certain inconsistencies in the data of the securities market (SFT-17) p...
12 Mar, 2024, 04.54 PM IST
Budget 2021: FM does away with the need for GST Audit for a section of taxpayersThis will bring relief to SMEs that are struggling with the requirement for audits under numerous laws.
06 Feb, 2021, 09.49 AM IST
Tax Ombudsman needed to protect tax-payer’s rights: Eco SurveyTo avoid the conflict of interest, ensure fair dealings and consequently build the trust between taxpayers and the concerned tax authority,...
29 Jan, 2021, 03.12 PM IST
Here's what govt's Taxpayers' Charter promises and expects from income tax payersPM Narendra Modi launched a platform for honouring the honest taxpayers. One of the key features of the platform is the Taxpayers' Charter ...
14 Aug, 2020, 03.47 PM IST
PM Modi launches 'Transparent Taxation' portal, a new faceless tax systemFaceless assessment and taxpayers’ charter will begin from August 13, while faceless appeal will begin from September 25 for all Indian cit...
14 Aug, 2020, 06.57 AM IST
Taxpayers' charter to send right message to global investors on regulatory certainty: ExpertsExperts said the push to ensure honest taxpayers have certainty and a non-adversarial or soft-touch regime would help put energy and effort...
13 Aug, 2020, 07.08 PM IST
View: Govt's move to have a charter of taxpayers is welcome but it needs strong executionThe reform potential of the charter will remain totally unrealised if old attitudes continue.
06 Mar, 2020, 06.18 AM IST
Taxpayers' charter will empower citizens to get time-bound services from I-T dept: CBDT chairmanThe CBDT chairman Pramod Chandra Mody said the charter will be notified very soon. "The underlining theme with which we have been working t...
04 Feb, 2020, 01.58 PM IST
Budget 2020 proposes to introduce a taxpayer’s charter to spell out what your rights areIn a recent report, the International Bureau of Fiscal Documentation had stated that the enactment of such a taxpayer charter was necessary...
02 Feb, 2020, 11.16 AM IST
Proposed income tax dispute settlement scheme waives interest, penaltyUnder the proposed ‘Vivad Se Vishwas’ scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get a comp...
02 Feb, 2020, 10.19 AM IST