Anyone earning Rs 2.5 lakh or more in India must file an ITR. This rule applies to everyone, not just high-income earners.

Changes were made in the July Budget to reduce the complexity of the capital gains tax calculations and give some income tax ...

US gross domestic product (GDP) growth for 2024 came in at 2.3%, below economist expectations of 2.6%. "We know that our ...

Unlike donations to charitable trusts, there is no form or reporting mechanism under the Income Tax Act, 1961 for donations ...

One expert argues the ERS would be unlikely to improve taxpayers’ experience unless it comes with additional funding to hire more agents and staff ...

The individual has never filed an ITR due to nil tax liability but now needs to for a home loan. They plan to file online, have doubts about income reporting and deductions, and must file ITR for only ...

The simplified ITR-1 form is currently available for residents. Extending it to NRIs with limited income sources would make ...

Section 80GGC allows taxpayers to claim deductions for contributions made to eligible political parties and electoral trusts. This deduction aims to encourage political funding.

Raipur: The recent encounter between the security forces and Maoists in a forest in Gariaband district in Chhattisgarh has ...

Himachal High Court held that as per section 43-B of the Income Tax Act deduction towards contribution to leave encashment ...

One of the methods to develop and enhance efficiency is through upgrading with advanced machines. However, the cost may be too high, especially when one is dealing with SMEs. The machinery loans ...

In the matter abovementioned ITAT partly allowed the appeal by estimation of 10% of total cash deposit towards possible revenue leakage.