The Tribunal ruled that exemption under Section 11(2) should not be denied solely due to delayed filing...
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 new law keeps depreciation methods unchanged for continuity. However, it broadens tax scope by including assets...
The new law restructures TDS provisions into Sections 392, 393, and 394, altering compliance procedures. Correct selection...
Dealer incentives like tour packages are taxable as business income under the new law. If TDS is...
The issue was deletion of additions on unsecured loans treated as unexplained cash credits. The tribunal upheld...
The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency and...
The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability...
The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is...
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting...
Court held that penalty under Section 270A cannot apply where assessed income does not exceed processed income....