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Income-tax Act

Rs 12.5 Lakh Relief from Income Tax not Applicable to Businesses, Capital Gains? Know Here

Manu Sharma

The Union Budget 2025-26 had introduced a significant tax relief for salaried individuals under the new tax regime. Effective from the financial...

"Mechanical and Cryptic": Bombay HC quashes NBW against Actor Arjun Rampal in Tax Evasion Case [Read...

Bombay HC Dismisses Writ Petition Against Retrospective Withdrawal of Industrial Park Tax Benefits...

S.43B Disallowance not Applicable When No Deduction Claimed and Liability Reported as Current...

Genuineness of Loans u/s 68: ITAT Orders Fresh Verification of Creditworthiness and Transactions...

No Income Tax Deduction for Penalty Settlements Under 4 Key Laws: CBDT [Read Notification]

The Ministry of Finance, through the Department of Revenue (Central Board of Direct Taxes), has issued Notification No. S.O. 1838(E) dated April 23, 2025, announcing significant clarifications under...

MPs to Make ₹1,24,000 per Month: Know the Perks, Benefits and Numbers in Light of Central Government’s 24% Salary Hike

“Let them Eat Cake” is a quote often claimed to have been said by the queen of France, Marie-Antoinette when she was informed that the common folk of France did not even have bread to eat during the...

CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 19/2025, dated March 11, 2025, under the Income Tax Act, 1961. This notification specifies the...

ITAT Orders Verification of TDS Deposits, Grants Relief to Assessee [Read Order]

In a recent decision, the Income Tax Appellate Tribunal ( ITAT ) has allowed the appeal of an assessee, directing the Assessing Officer ( AO ) to verify the documents related to Tax Deducted at...

Section 80GGC Income Tax Deduction: Detailed Explanation

Donating to political parties is a common practice in India, particularly among salaried individuals and businesses. Today, let’s understand Section 80GGC of the Income Tax Act, which provides tax...

CBDT Approves CPRI as Research Association for Scientific Research [Read Notification]

The Central Board of Direct Taxes (CBDT), through a notification (Notification No. 07/2025/F. No. 203/20/2024/ITA-II)issued on 14th January 2025, has approved the Central Power Research Institute...

CBDT - CBDT Approves - CPRI - Research Association - CBDT Approves CPRI - Scientific Research - taxscan

Budget 2025: Customs Duty Revamp of Over 100 Items Expected

A major revamp of basic customs duty ( BCD ) on over 100 items is likely in the FY26 Budget, aimed at aligning duty rates with global trade trends and resolving the inverted duty structure, according...