Simplification: The provisions under the Income Tax Bill, 2025, have clearer language and cater to modern work scenarios, ...

The new bill has also provided repeals and savings clause to ensure that rights and benefits accrued to the taxpayers under ...

Section 68 of the Income Tax Act governs unexplained cash credits. If a sum appears in a taxpayer’s books and its nature or source is unclear or unsatisfactory, it is treated as taxable income. This ...

Union finance minister Nirmala Sitharaman on Thursday introduced the Income-Tax Bill, 2025 in the Lok Sabha aiming to abridge ...

The Central Board of Direct Taxes clarified that the new Income Tax Bill 2025 does not alter the scope of virtual digital ...

Whether you are required to file a federal income tax return this year will depend on how much you earned last year, plus a ...

Non-disclosure of income from VDAs under the regime introduced in the Finance Act, 2022 could expose the taxpayer to search ...

The new Income Tax Bill that was introduced in the Parliament by Finance Minister Nirmala Sitharaman on Thursday has not ...

The upcoming Income Tax Bill will redefine tax residency criteria, affecting Non-Resident Indians (NRIs) earning Rs 15 lakh ...

In short, a tax deduction reduces the amount of income on which you are taxed, whereas a tax credit reduces the amount of tax that you owe. This means that a $1,000 tax credit will save you much ...

The proposed Income-Tax Bill 2025 aims to streamline the definition of taxable incomes categorized under the "Salaries" ...

The new bill, designed to make tax regulations more accessible to the general public, will replace the existing Income Tax ...