To streamline the law, the new bill reduces the number of pages from 823 to 622, removing redundant provisos and explanations ...

Many taxpayers want the permanent extension of ITR filing deadlines to get more time to meet the compliance laws. The ...

As soon as the new tax slab is implemented in the new financial year, many tax-related rules (income tax new rules) will also ...

The push for modernising the Income Tax Rules reflects its broader goal of creating a tax system that is not only more ...

Introduced in Budget 2022, the ITR-U or Updated Income Tax Return is the form that allows you to rectify errors or omissions ...

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

The Indian government is closely monitoring high-value financial transactions using data analytics and inputs from various ...

Budget 2025 increased the tax rebate limit under the new regime to ₹12 lakh from FY26. If trends from previous years continue ...

Proprietors must file Form 1040, which is the standard form for the income tax returns. 3. File Schedule C: Attach Schedule C (Form 1040), which reports business incomes and expenses. 4. File Schedule ...

The deadline for filing income tax is a critical factor in tax compliance for all taxpayers. Presently, there are varying ...