Conclusion: Assessee was entitled to the exemption under Section 10A as ex-post facto approval granted by the RBI, the ...

ITAT Chennai held that Form 56F not signed by an accountant, as referred in section 10A (5) of the Income Tax Act, is defective and hence deduction under section 10A of the Income Tax Act not ...

The current income-tax law is complex for average taxpayers due to its technical jargon and numerous provisos, circulars, and ...

This article discusses some of the key amendments that may be introduced in the upcoming budget to achieve the Finance ...

which qualify for deductions of up to ₹1.5 lakh under ... in their Income Tax Return (ITR) filing 2025, as the fiscal year 2024–25 ends on that day. Section 80C of the Income Tax Act provides ...

The government has introduced a new Section-285BAA under the Income Tax Act of 1961, which makes it mandatory for investors to furnish details of their crypto transactions. They also included ...

Finance Minister Nirmala Sitharaman implemented changes to the slabs, rates, and rebates under the New Tax Regime to ...

This is due to the provision of a rebate under Section 87A of the Income Tax Act. Under this section, taxpayers with a net taxable income of up to Rs 5 lakh in the old tax regime and up to Rs 7 ...

Under the New Regime ... the deduction of home loan interest from taxable rental income according to section 24 of the Income-tax Act. However, the interest on the loan often exceeds the rental ...

Tax Rebate under Section 87A is given to reduce your taxable income to nil. It is a better option to give tax relief through the tax rebate than changing the tax slabs. This is because to get this tax ...

Budget 2025: Govt may replace Income Tax Act, 1961 with THIS new law ... it is recommended to raise the limit under Section 80C to Rs 2 lakh. This long-overdue revision would provide significant ...

Section 10(10D) of the Income Tax Act, 1961 provides for income-tax exemption on the sum received under a life insurance policy, including any sum allocated by way of bonus on such policy subject to ...