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[BREAKING] New Income Tax Bill receives President’s Assent, Act will officially come into force from This Date

Manu Sharma

The Income-Tax Bill, 2025, received the President’s assent on August 21, 2025, marking a significant overhaul in India’s direct tax regime. With...

Income Tax Bill 2025: Select Committee to Table Parliamentary Panel Report in Lok Sabha on 21 July

Old vs New Tax Regime: Which One to Choose While Filing ITR

Relief for Huawei: CESTAT Rules Corporate Guarantee not Taxable under Service Tax in Absence of...

No More Exemptions - UK Residents - Indian Domicile - Face Tax - Foreign Income - taxscan

No More Exemptions: UK Residents with Indian Domicile to Face Tax on Foreign Income from April 2025

NPS vs EPF: Comparing Best Retirement Savings Plan under New Tax Regime

Planning for retirement is important to ensure financial stability and peace of mind in one's later years. In India, the National Pension System (NPS) and the Employees' Provident Fund (EPF) are two...

NPS vs EPF - Retirement Savings Plan - Tax Regime - taxscan

Incorrect Dues Dates Considered: KSCAA writes to CBDT on Incorrect ITR Processing by CPC

The Karnataka State Chartered Accountants Association ( KSCAA ) has made its representation before the CBDT on the incorrect processing of Income Tax Returns ( ITR ) by the CPC. The key issues...

New Income Tax Act to be Introduced in Six Months, declares FM

The New Income Tax Act replacing the old will be introduced soon, declared FM on the celebration of the 165th year of income tax on 21st August 2024. The Union Finance Minister Nirmala Sitharaman, in...

Union Budget 2024-25: Key Highlights [Read Bill]

The Union Finance Minister Nirmala Sitharaman has presented the Union Budget for the Financial Year 2024-25, outlining the fiscal roadmap and allocations for the ongoing financial year. Read More:...

Union Budget 2024-25 - Budget 2024-25 - Union Finance Minister Nirmala Sitharaman - fiscal roadmap and allocations - Budget 2024 - Budget 2024 live updates - taxscan

Are you a House Wife having Savings Deposit? Know Income Tax Exemption for Savings Deposit by House Wives

The Income Tax Act provides individuals different exemptions and deductions to reduce taxable income. Income tax deductions and exemptions apply to housewives. Housewives are generally not taxed...

Know which IT Regime to choose to avoid Paying a Higher Tax

New Financial Year, New Tax Planning Strategies The commencement of a new financial year often brings with it the need for individuals to revisit their tax planning strategies. With the onset of...

Budget 2024: Rebate Limit Raises from Rs 5 lakh to Rs 7 lakh in New Tax Regime [Read Finance Bill]

In the budget 2024, the Central Government raised Rebate limit from Rs 5 lakh to Rs 7 lakh in New Tax Regime Nirmala Sitharaman proposed to raise the rebate limit from Rs 5 lakh to Rs 7 lakh in...