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Deductions

Deductions Under Income Tax: Computation Methods, Regime Comparison, and Procedural Changes in New Income Tax Act [Old vs New Income Tax]

The Indian income tax framework has undergone significant transformations, particularly with the introduction of an optional new tax regime,...

Non-Resident Individual Tax Guide for AY 2025-26: Understanding Residential Status, Tax Regimes, and...

Derived From’ Means First-Degree Nexus: Supreme Court Rejects NCDC’s Claim for Deduction u/s...

CBDT Notifies S. 80G Deductions to Shree Balakrishna Lalji Temple, Mumbai, as a Historic Public...

ESOP Discount Allowable as Business Deduction: ITAT affirms Consistent View in Goldman Sachs Case...

Inside the Tax Files: Who Paid the Most Tax in India This Year?

In India, both people and businesses have to pay taxes on the money they earn. The final tax amount depends on many things like the type of tax, expenses, deductions, exemptions, and income. This...

Disallowance of Excess Deductions and House Property Loss in Revised Returns: ITAT Sets Aside Order FAA’s Order [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the order of the First Appellate Authority (FAA) and directed the Assessing Officer (AO) to consider the original return while ...

Income Tax Dept Introduces TAX ASSIST - Go to Support for all Tax Concerns

The Income Tax Department has introduced a new campaign titled "TAX ASSIST" positioned as the go-to support system for all tax-related concerns. The campaign was officially rolled out with a clear ...

The Indian State Where There's No Income Tax: Discover the Nation’s Best-Kept Financial Secret!

Imagine living in a place where your hard-earned money truly stays in your pocket, no matter how much you earn. No annual rush to file returns, no stress over deductions, and no late-night...

Jharkhand HC Grants Rs. 90,000 Monthly Alimony per month After RTI Reveals Husband’s Rs. 21 Lakh Annual Income [Read Order]

The Jharkhand High Court has granted Rs. 90,000 as monthly alimony after an RTI disclosure revealed that the husband earns an annual income of Rs. 21 lakhs. In this case, the appellant,...

CSR Expenditure Eligible for 80G Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai recently delivered a significant ruling, allowing companies to claim deductions under Section 80G for Corporate Social Responsibility (CSR)...

[TAXSCAN 360] How to Pay Less Taxes: Tax Exemptions and Deductions Available for the Salaried Class

It wouldn’t be a hyperbole to say that the salaried individuals are the backbone of the Indian revenue system as the taxpayers are mostly constituted by them. As a salaried employee, one might have...