Explains taxation of gifts under Section 56(2)(x), exemptions for relatives, Rs. 50,000 threshold, clubbing provisions and documentation...
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.
Income-tax Act, 2025 revises the TRACES TDS Justification Report password format with new form numbering and structure...
Explains how the second proviso to Section 112 caps LTCG tax for eligible resident individuals and HUFs...
Gujarat HC quashed ITAT’s remand, held Article 8 of the India-Singapore DTAA applies to shipping profits and...
Beware of fake Income Tax emails sent from QQ Mail or Gmail IDs. Learn how to identify...
ITAT Ahmedabad allowed Section 54F deduction, holding that completion certificate was not required where evidence established construction...
ITAT Kolkata upheld deletion of business expenditure disallowance, holding that nil sales did not establish business closure...
ITAT Chennai deleted the addition under Section 69 holding that mere time gap between cash withdrawal and...
ITAT Kolkata held that an assessment under Section 143(3) is void where the mandatory notice under Section...
ITAT Jabalpur deleted Section 270A penalty, holding that an excess Section 80G deduction claim was a bona...