The Income Tax Department of India has introduced an innovative feature on its e-Filing portal called “Request for Order ...

Proceedings for adjustment of refund to outstanding demand u/s 245 (1) of the Income tax Act, 1961 are pending. Proceedings ...

The Union Cabinet approved the new Income Tax Bill on Friday, which is poised to replace the existing Income Tax Act of 1961.

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025 on February 1, announced that she will table the ...

Income Tax filing: In Budget 2025, Finance Minister Nirmala Sitharaman suggested extending the timeframe for submitting revised income tax returns (ITRs) from two to four years. This adjustment ...

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

2. That in the facts and circumstances of the case and in law, the Respondent erred in concluding that the income in the form of deposit, lease premium, rent and interest, etc. is liable to tax in the ...

The Government of India introduced ... estimate and compare tax liability under the new and old tax regimes using the Income and Tax Calculator on the Income Tax Portal. Which form should be ...

The Permanent Account Number, also commonly known as PAN, has been an essential part of India’s financial and administrative ...

India has different slabs for people under 60, senior citizens (60-79), and super seniors (80 and above). For example, if you ...

Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...