The Tribunal held that once business receipts are taxed on an estimated basis, separate additions for payments...
Income Tax
Income tax in India is a direct tax imposed on individuals, businesses, and other entities based on their income. Understanding income tax is essential for proper financial planning and compliance with government regulations. This section provides comprehensive resources covering income tax slabs, ITR filing, deductions, exemptions, and the latest updates for FY 2025–26.
Whether you are a salaried employee, freelancer, or business owner, you can explore detailed guides below to learn how to calculate your tax, file returns, and maximize eligible deductions. Stay informed with the latest income tax rules, deadlines, and expert insights to manage your taxes efficiently.
The Budget introduces a new Income-tax Act, eases compliance, and rationalises penalties. The key takeaway is a...
The Finance Bill proposes a sharp increase in the penalty for failing to furnish information. The move...
The Bill proposes halving the tax rate on unexplained income from 60% to 30%. It signals a...
Taxpayers can now seek immunity even where under-reporting arises from misreporting. This is allowed on payment of...
Taxpayers can now seek immunity even where under-reporting results from misreporting. Payment of full tax, interest, and...
Federal cooperatives receive a temporary deduction for dividends earned from company investments made before 31 January 2026....
The Tribunal held that while interest on enhanced compensation was taxable as per settled law, the exemption...
he Bill limits block assessments for other persons to the actual year of undisclosed income. The key...
The Finance Bill, 2026 converts key penalties for audit and reporting delays into mandatory fees. The shift...