23 chapters, 16 schedules and 536 clauses: Here is what the new Income Tax Bill says
T he New Income Tax Bill, set to be presented in Parliament on Thursday, February 13, will span over 622 pages and aims to replace the six-decade-old Income Tax Act of 1961. Once ...
Senior citizens: How the Rs 1 lakh TDS threshold affects your FD earnings
Rs 1 lakh TDS threshold for senior citizens on fixed deposit interest reduces procedural hassles but doesn't exempt them from ...
Tax Guru3d
Section 263 Invocation justified as AO passed order without Necessary inquiries
The AO initially passed an assessment order, making additions related to transfer pricing adjustments and disallowance under Section 14A. Subsequently, the assessment was reopened under Section 147 ...
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Income tax rates for individuals
These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...
Tax Guru4d
Additions Beyond Limited Scrutiny Lack Jurisdiction & Must Be Deleted: Calcutta HC
This appeal by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 28th March, 2023 passed by the Income Tax Appellate Tribunal, “C” Bench, Kolkata ...
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Personal income tax
Who should file a tax return, how to get ready for taxes, filing and payment due dates, reporting your income and claiming deductions, and how to make a payment or check the status of your refund.