Income Tax

The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to States) Act, 2017through Clauses 110 to 146 of the Bill

India is growing at an accelerated pace, and people are undertaking multiple financial transactions. The Income Tax Department has established a robust framework for reporting taxpayers' transactions. The provisions of

ELSS (Equity Linked Savings Scheme) Mutual Funds, also known as tax-saving mutual funds, provide a double advantage of potential capital growth and tax benefits under Section 80C of the Income

Section 80TTA/80TTB of Income Tax Act provides that in case the gross total income of an assessee being, an individual or a HUF, includes any income by way of interest

In the new financial year, many of us find ourselves in the familiar scramble to maximise our tax savings. We look for ways to invest our hard-earned money wisely while

As per the CBDT Circular No. 6/2024 dated 23.04.2024, several grievances have been received from taxpayers who are TDS/TCS deductors or collectors. They have received notices for short deduction/collection of

The Pension Fund Regulatory and Development Authority (PFRDA) has announced that it has upgraded the security layers of the National Pension System (NPS) by introducing a new step, which will

Notification No. 2 of 2024, issued by the Central Board of Direct Taxes (CBDT), addresses the time limit for verification of Income Tax Returns (ITRs) after uploading. This notification provides

Individuals, including senior citizens, can avail tax benefits for a multi-year health insurance policy by adhering to the following guidelines:Premium Payment: Ensure timely payment of premiums for the multi-year health

The Income Tax Department carefully tracks all financial deposits and withdrawals made by individuals. The I-T Department uses data from different sources to verify tax compliance, with certain transactions triggering