Income Tax in Media


Income tax returns: Report capital gains, don’t wait till July 31. Mistakes to avoid this tax season

Here’s a concise guide to help you avoid common mistakes and ensure a hassle-free tax season for the financial year 2023-24 (assessment year 2024-25) …

ITR Filing: Check income tax slab rates for FY 2024-25 (AY 2025-26) under old, new tax regimes

The Income Tax filing deadline is just 46 days away from today, with the deadline being on July 31, 2024. Taxpayers should be ready to file their returns anytime now …

Advance tax first instalment payment: Who has to pay, penalty for missing

The first instalment of advance tax payment for this fiscal year is June 15, 2024. Those with a net income tax liability of more than Rs.10,000 in any financial year are …

Is the Centre planning to decriminalise minor I-T offences in 100 days?

The central government may decriminalise minor income tax offences and replace prosecution with penalties as part of its agenda for the first 100-days. The news was broken by MoneyControl, which …

I-T department set to complete 170,000 reassessments by next March

The income tax (I-T) department could complete by March 2025 reassessments of 170 thousand notices issued between March 2021 and March 2024 for undisclosed income in past assessment years …

Check your Form 26AS, AIS carefully for error-free income tax return filing

July 31 – the due date for filing income tax returns for the financial year 2023-24 (assessment year 2024-25) – is drawing closer …

Tax incidence of non-compete fee is not retrospective, rules ITAT

Non-compete fees received by a taxpayer will be a non-taxable capital receipts up to the financial year 2002-03. The amendment to treat non-compete fees as taxable revenue receipts came into …

Tax tribunals in Delhi and Mumbai allow deductions for CSR donation

Income Tax Appellate Tribunal (ITAT) benches in Delhi and Mumbai recently ruled in favour of allowing tax deductions under Section 80G of the Income Tax Act for corporate donations made as part …

Govt likely to decriminalise minor I-T offences in 100 days

In a first, the Centre is likely to fulfil a long standing demand of the industry to decriminalise minor income tax offences to prevent prosecution and replace it with penalty, …

Telangana High Court’s landmark decision: GAAR ruling impacts taxpayers

The Telangana High Court has ruled against a taxpayer against whom the revenue department had invoked General Anti-avoidance Rule (GAAR) …

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top