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 ...

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 ...

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 ...

ITR deadline today, January 15, 2025: Taxpayers must noted that today is the deadline for filing your income tax returns (ITR) if you missed the original date or are submitting a revised return ...

With limited sources of income ... which act as a crucial financial safety net for them. Experts believe that Finance Minister Nirmala Sitharaman may finally adjust the tax slabs under the ...

In a landmark judgment, the Income Tax Appellate Tribunal (ITAT) Chennai Bench recently upheld the Revenue's appeal, rejecting a taxpayer's claim for Section 10A deduction due to procedural lapses in ...

Individuals are being scrutinized by the income ... to claim tax free house rent allowance when no property has even been taken on rent. From investments (section 80C of the I-T Act) to health ...

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 ...