Articles by Mitali

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Tax-Free State of Sikkim: Historical and Legal Factors

Posted by Mitali 01 August 2024 1154 Views

Sikkim state became tax-free during its merger with India in 1975, when it became the 22nd state of India.

TDS Rate Chart for FY 2024-25 (AY 2025-26)

Posted by Mitali 25 July 2024 11688 Views

Get the latest TDS rate chart for FY 2024-25 (AY 2025-26)

New Rules on Tax Case for Re-openings and Re-assessments

Posted by Mitali 25 July 2024 2586 Views

In Budget 2024, FM has simplified the provisions for reopening and reassessment to reduce tax uncertainty and disputes, providing relief to taxpayers.

Changes in Slab Rate For FY 2024-25 and AY 2025-26

Posted by Mitali 23 July 2024 8179 Views

Income tax slabs are the categories of income levels that determine the rate at which income tax is charged for the applicable financial year (FY) and assessment year (AY).

Rectify Mistakes of Your Unverified ITR Without Filing Revised ITR

Posted by Mitali 22 July 2024 2015 Views

Filing an income tax return requires a careful and detailed process. But despite of our best efforts, mistakes happen.

Suggestion to Permanently Change ITR Filing Due Date to 31st August

Posted by Mitali 22 July 2024 2020 Views

Suggestion to permanently change the deadline has been given by the taxpayers as they are facing difficulty in accessing Form 26AS and AIS. Due to technical issues on the Income Tax Portal, there is an increasing demand to extend the ITR filing deadline from July 31, 2024, to August 31, 2024.

New Changes in Section 87A Rebate Post-July 2024

Posted by Mitali 18 July 2024 9349 Views

Recent change in ITR utility for rebate u/s 87A has caused confusion and concerns among taxpayers and professionals.

Netizens Shocked as Man Pays Rs 50,000 to Resolve Rupee 1 Income Tax Issue

Posted by Mitali 12 July 2024 1828 Views

A man in Delhi claimed about paying a large fee to a chartered accountant for a minor tax dispute. He paid Rs 50,000 to a CA for resolving a tax notice where the disputed amount was only Re 1.

Form 10-IEA: Opting for the Old Tax Regime

Posted by Mitali 11 July 2024 3610 Views

Form 10-IEA has been notified through Notification No. 43/2023 dated 21st June 2023 which enables taxpayers to make choice between the old and new tax regimes.

FAQs on New Vs Old Tax Regime For AY 2024-25

Posted by Mitali 08 July 2024 3279 Views

The Finance Act 2023 has amended the provisions of Section 115BAC w.e.f. AY 2024-25 to make the new tax regime the default tax regime for the assessees being individuals, HUF, AOP (not being cooperative societies), BOI, or artificial judicial persons.