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Budget 2024: No Tax on Annual Income up to ₹8.5 Lakh if the Basic Exemption Is Raised to ₹5 Lakh

Finance Minister Nirmala Sitharaman is set to unveil the Modi government's first budget 2024 of its third term on  23 July 2024, with widespread...

Implementation of e-Verification Scheme-2021: Reconciliation of Taxpayer Income Information

The Income Tax Department has rolled out the e-Verification Scheme-2021 to address discrepancies between third-party data on interest and dividend income and taxpayers' filed...

NCLT Denies Merger Approval Over Tax Evasion and Money Laundering Concerns

The National Company Law Tribunal (NCLT) has blocked the proposed merger of three companies, citing serious concerns about tax evasion and money laundering. The...

ITR Filing 2024: Switching Back to the Old Tax Regime – What You Need to Know

Since the new tax regime (NTR) was introduced in Budget 2020, it has gained prominence with lower tax rates compared to the old tax...

ITR Filing 2024: Reasons Taxpayers are Requesting an Extension of the July 31 Deadline

 22 July 2024 - With the July 31 deadline for filing Income Tax Returns (ITR) for Assessment Year 2024-25 looming, taxpayers are facing significant...

Big Relief for Taxpayers: Government Announces TDS/TCS Reduction, No More Double Tax Deduction

In a major relief for taxpayers and businesses, the government has announced a significant change in the rules regarding TDS (Tax Deducted at Source)...

Calcutta High Court Rules: Cellular Service Providers Not Required to Deduct TDS on Distributors’ Income

In a significant ruling, the Calcutta High Court has determined that cellular mobile service providers are not obligated to deduct tax at source (TDS)...

Chennai CESTAT Rules: No Service Tax on TDS for Foreign Service Providers

The Chennai Bench of the Custom, Excise, and Service Tax Appellate Tribunal (CESTAT) has delivered a significant ruling stating that no service tax is...

DPIIT Recommends Scrapping Angel Tax For Startups

With the Union Budget set for release later this month, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended removing the...

Union Budget 2024-25: Salaried Taxpayers Expect More Deduction

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2024-25, salaried individuals are hoping for significant benefits. This budget will mark Sitharaman's...

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