January is a good time to consider tax planning. Amid the yearly onslaught of inflation-adjusted tax figures, here are the ...

Conclusion: In a dispute of taxable supplier’s discrepancy in the Goods and Services Tax Returns (GSTR) – 3B and the form 26AS under Section 203AA of Income Tax Act, 1961, High Court had granted final ...

Earlier, the last date for resident individuals to make these submissions for assessment year (AY) 2024-25 was set at 31st ...

Taxpayers who file ITR after the deadline are fined Rs 5,000. For taxpayers with an income less than Rs 5 lakh, this penalty ...

NRIs renting out properties in India must manage taxes effectively. Rental income exceeding exemption limits requires filing ...

Recent tax updates, including revamped Form 26AS, pre-filled ITRs, flexible returns, expanded TDS/TCS, higher deductions, and ...

Updated tax rules, including pre-filled forms and flexible return filing, aim to reduce errors and ensure seamless compliance for taxpayers.

The Surat Bench of ITAT allowed the appeal for statistical purpose which means that ITAT uphold the decision of CIT (A) but without any real impact on the case. It allowed TDS credit of the of Rs.4,50 ...

Deloitte's Income Tax Policy Survey also suggested eliminating the need to issue Form 16A, as the TDS information is already available in the recipient's Form 26AS and AIS. Income Tax Return i.e ...

Above-the-line deductions reduce both AGI and taxable income, increasing tax savings. Understanding AGI helps optimize eligibility for various tax benefits and deductions. Key findings are powered ...

The Income Tax Department has recovered Rs 37,000 crore over the past 20 months from individuals who failed to file returns despite significant spending. Officials used data analytics and ...

The Income Tax Department is leveraging artificial intelligence to identify over 8,000 cases of fraudulent rent receipts used ...