Freelancers are usually paid directly by the clients, but they tend not to receive traditional employee benefits such as insurance or paid leave.  Freelancers are responsible for their tax filings and may need to account

The final date to claim Income Tax refunds for Salary Tax Deducted at Source ( TDS ) deductions for the last financial year ( April 2023 - March 2024 ) is December 31, 2024. File

Unexplained cash deposits have been a focal point of scrutiny in the Indian income tax framework. Section 69A of the Income Tax Act, 1961, is a crucial provision empowering tax authorities to tax unaccounted assets,

Introduction We encounter tахes in different forms in our dау-tо-dау livеs. Simрly рut, tаx is thе аmount оf monеy we givе thе gоvernment. Why do we do it? Оften, we аre not surе. Tаx is

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to the Commissioner of Income Tax(Appeals) [CIT(A)] for fresh adjudication after finding that the lower authorities failed to adequately consider the

The Central Information Commission ( CIC ) has upheld the decision of the Central Public Information Officer ( CPIO ) to deny access to information concerning orders issued by the Directorate General of GST Intelligence

In 2 days time, which is on this Friday, November 15th, the following forms have to be furnished. The assessees are advised to make sure that they file their Income Tax Returns ( ITR )

The government is considering increasing the tax-free interest limit on Voluntary Provident Fund ( VPF ) contributions, which is currently capped at ₹2.5 lakh for contributions made by employees in a financial year. This limit

As per data from the Income Tax Department, The number of individuals reporting taxable incomes exceeding Rs 1 crore in their income tax returns has surged fivefold over the past decade. From just 44,078 in

Section 87A and Section 111A of the Income Tax Act, 1961 are key provisions that directly impact taxpayers, primarily those that have lower incomes or capital gains. While Section 87A provides a tax rebate for

The Central Board of Direct Taxes ( CBDT ) has notified amendments in income-tax rules for ease in claiming credit for TCS collected/TDS deducted for salaried employees and enabling claiming TCS credit of minors in

The Union Budget for the year 2024 was presented before the parliament on July 23rd by the Union Finance Minister, Nirmala Sitharaman. In the budget, the central government modified the income tax legislation under the

The Central Government has officially notified the Finance (No. 2) Act, 2024 which was passed by Parliament in the Monsoon Session, introducing a host of financial reforms aimed at strengthening the Indian economy. Read More:

The Income Tax System in India is governed by the Income Tax Act, 1961. Having a basic understanding of the concepts and terminologies of the Taxation System can help an individual identify their tax liabilities

The Income-tax Department has expressed its appreciation for taxpayers and tax professionals for their timely compliance, resulting in a record number of Income-tax Returns ( ITRs ) filed for the Assessment Year ( AY )