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 ...

Chhattisgarh High Court recently adjudicated a tax appeal under Section 260A of the Income Tax Act, 1961, involving the ...

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

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

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 ...

Presumptive taxation scheme is a provision introduced within the Income Tax Act for providing ... Entities who have enrolled under the presumptive taxation scheme are allowed to compute income on an ...

It offers lower tax rates but eliminates certain exemptions and deductions from the old regime, such as the standard deduction and home rent allowance (HRA). Under both the ... housing costs. Section ...

electing to file a tax return under section 216 of the Income Tax Act Non-resident's investments in Canadian mutual funds Non-resident's investments in Canadian mutual funds, withholding tax, ...

To finance TCJA’s tax cuts, the government will issue additional Treasury securities ... income taxes, for example, expire at the end of 2025. Business expensing for new investment is also temporary.

NPS: One can also claim deduction under section 80CCCD (2) for employer's contribution to employee NPS accounts. III. For Agnipath scheme: Income earned via Agnipath scheme is entitled to tax ...