Why and when income tax officers may ask for your grocery, restaurant bills; experts explain
According to tax experts, income tax officials may conduct an examination of an individual's declared expenses in comparison ...
Tax Guru2d
Residential Status of An Assessee in Income Tax Act, 1961
The Income Tax Department’s methods for levying, managing, collecting, and recovering taxes are governed by the Income Tax Act of 1961. With effect from April 1, 1962, it consists of 23 chapters, 298 ...
Income Tax Bill 2025: Rules changed for clubbing of income, family income; details here
The Income-Tax Bill 2025 revises the conditions for clubbing of income, allowing spouses' technical contributions without ...
Tax Guru1d
Provisions for Senior Citizens under Income Tax Act
Under the New Tax Regime, following are the tax slab rates applicable to a Senior Citizen for FY 2025-26 (As per Budget 2025 ...
New Income Tax Bill, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?
The Income Tax Bill 2025 has 57 tables, compared to 18 in the existing I-T Act of 1961. The new bill removed 1,200 provisos ...
Income Tax department activates section wise mapping of I-T Act, Tax bill
In a post on X, the department on February 14 said it has activated the utility to check Section of the Income Tax Act, 1961, ...
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Mankind Pharma receives ₹111.68 crore Income Tax demand, plans to appeal
Pharmaceutical firm Mankind Pharma Ltd on Friday (February 28) said it has received a ₹111.68 crore tax demand from the ...
Live Law3d
CBDT Cannot Impose Limitations To Extinguish Rights Granted Under Income Tax Act: Delhi High Court
Recently, the Delhi High Court held that Central Board of Direct Taxes (CBDT) cannot impose limitations to extinguish rights ...
Townhall6dOpinion
Congress Must Cancel Foreign Derived Intangible Income Tax Break
The lower tax rate for FDII has enabled Big Tech companies such as Google, Apple, and Amazon to reap billions of dollars in ...
Porter County officials ponder local income tax increase as legislature considers property tax freeze
While they are waiting to see how the Indiana legislature votes in this year’s lawmaking session ending April 29 Porter ...
Live Law1d
Enterprise Manufacturing Specified Items In Designated States Can Seek Tax Deduction U/S 80IC Income Tax Act Without Agreement With Govt: Delhi HC
The Delhi High Court has held that Section 80IC of the Income Tax Act, 1961, which contemplates tax incentives for ...
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E-commerce firm MSTC gets ₹105.55-crore income tax demand
The total demand includes ₹42.45 crore in interest. Shares of MSTC Ltd ended at ₹434, down by ₹18.60, or 4.11%, on the BSE.