Income Tax Articles

Cracking the Direct Tax Code

CA Pallav Singhania 25 November 2024 at 08:43

The Direct Tax Code 2025 promises just that, aiming to simplify the tax system and empower taxpayers. Let's explore how this change could transform your financial journey!

Direct Tax Vivad se Vishwas Scheme, 2024 - A Step Guide

Nabin Agarwal 23 November 2024 at 08:40

For cases where an appeal is pending before an appellant forum as of July 22, 2024.

CBDT's Compliance-Cum-Awareness Campaign: A Step Toward Enhanced Transparency

CA Naveen Panwar 23 November 2024 at 08:40

The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for AY 2024-25, focusing on accurate reporting of foreign income and assets in Income Tax Returns (ITR).

CBDT's Revised Condonation Timeline: A Chartered Accountant's Perspective

CA Naveen Panwar 22 November 2024 at 08:38

The CBDT has recently issued a circular reducing the time limit for filing condonation of delay applications related to ITR. This procedural update is critical for taxpayers seeking to rectify past filing delays, especially for claiming refunds or carrying forward losses.

Income Tax Act Revamp (Comprehensive Review): Status and Suggestion on TDS/TCS provisions (Cumbersome, Rates & Overlap)

Vivek Jalan 22 November 2024 at 08:38

The income tax department has received 6,500 suggestions from stakeholders over the past month on review of the Income Tax Act.

Choosing the Best Tax Regime for an Annual Income of Rs 10 Lakh: New vs Old

CA Naveen Panwar 20 November 2024 at 08:40

As an individual with an annual income of ₹10 lakh, one of the key decisions you need to make when filing your taxes is choosing between the old tax regime and the new tax regime.

ITR is Statutory Document that must be considered while deciding Compensation

FCS Deepak Pratap Singh 18 November 2024 at 05:14

The ITR (Income Tax Return), which is a statutory document, is required to be considered for the purpose of assessing the income of the deceased, which is inclusive of perquisites and allowances, in the light of judgment rendered by Hon'ble Apex Court in the case of Meenakshi v. Oriental Insurance Co. Ltd.