It is expected that in the upcoming budget session on February 1, a new Income Tax Act may be proposed. The government may introduce the certain changes in the Income Tax Act in the Union Budget ...

Subsequently, the assessee filed a revised return admitting total income at Rs. l,54,57,78,798/- with a tax liability of Rs. 35,26,36,341/- and accordingly claimed refund of Rs. 19,09,070/-. Original ...

The tribunal reviewed legal precedents, including rulings by the Orissa, Telangana, and Bombay High Courts, which consistently held that procedural delays in filing Form-10B should be condoned if ...

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 ...

Rs 1 lakh TDS threshold for senior citizens on fixed deposit interest reduces procedural hassles but doesn't exempt them from ...

Here are the four things crypto investors need to look for - 1. Mandatory Reporting ... has introduced a new Section-285BAA under the Income Tax Act of 1961, which makes it mandatory for investors ...

Revenue of $146.8 million (ZAR 2.6 billion) was at the upper end of our Revenue guidance and compares to $143.9 million (ZAR ...

We spoke with several chartered accountants who file thousands of ITRs of their clients and here’s what issues they highlighted: Simplification of Income tax portal’s logic ... “When a notice under ...

The Union Budget for 2025-26 will be presented on February 1, 2025. Simplify the language and provisions of the current Income Tax Act. Reduce litigation and disputes by increasing clarity and ...

KINGSTON, Jamaica-The House of Representatives on Tuesday (January 14) passed amendments to the Income Tax Act, codifying the ... which moved from $1.5 million to $1.7 million.

The Income Tax Act of 1961, despite numerous amendments, had become overly complex, leading to confusion and frequent litigation. The DTC seeks to address these issues by: 1. Simplifying Tax Laws ...