The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...

An updated tax return, filed as per Section 139(8A), permits taxpayers to correct omitted or inaccurate income declarations.

No major tax policy changes to ensure continuity and certainty. 3. No modifications of tax rates, preserving predictability ...

In 2014, taxpayers were exempt from tax on income up to Rs 2 lakh. Budget 2025 has significantly expanded this relief to Rs ...

Tax season is officially underway. The IRS expects over 140 million people to file tax returns before the April 15 deadline.

Budget 2025 extends the time limit for filing updated ITRs from 24 months to 48 months, but taxpayers filing late may have to ...

JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...

IRS tax refund may arrive sooner than you think. Here’s a schedule for when you can expect your check or direct deposit.

I am confident you can answer my question and direct me to where to get the form I need. I would like to get a mail-in form for my 2024 taxes, but cannot seem to find Form 1040 SR. It’s the only form ...

These cross appeals are filed by the assessee and the revenue against the order of the Learned Commissioner of Income-tax (Appeals), Mumbai/National Faceless Appeal Centre, Delhi [hereinafter referred ...

The Union cabinet approved the income tax bill on 7 February to replace the existing law, and it is expected to be tabled in ...