The new law replaces “Previous Year” and “Assessment Year” with one unified “Tax Year.” This simplifies return filing and reduces confusion for ...

An NRI man earned Rs 44 lakh salary abroad and deposited it in his NRE account. The Income Tax Department issued a notice, but the Income Tax Appellate Tribunal (ITAT) Ahmedabad ruled in his favor.

The drafts have been opened for public comments for 15 days, until February 22, 2026. The tax department has invited ...

Discover sweeping changes to credit card usage under Income Tax Draft Rules 2026. Learn about higher transaction scrutiny, ...

Transforming Personal Finance Management In India, managing personal finances is about to become more straightforward with ...

Income Tax Budget 2026 highlights: Finance minister Nirmala Sitharaman, during the presentation of Union Budget 2026-27, announced that the New Income Tax Act, 2025, will come into effect from April 1 ...

The previous Income Tax Act was over 65 years old and had more than 800 sections. The new law reduces this to around 536 sections and removes many explanations and provisos that made the law ...

In December, the Income-tax Department sent SMS and email alerts flagging mismatches in reported income and non-disclosure of ...

All the rules and forms under the Act, which will take effect beginning April 1 this year, will be notified at one go. Through the new forms, the department aims to capture the data in a manner that ...

The new Income Tax Act, 2025 shall replace the Income Tax Act, 1961, and will come into effect from April 1, 2026. In one of its biggest tax reforms, India will soon usher in a new direct tax regime.

The Court held that an employee must be given access to documents relied upon for dismissal, including the Police Verification Report. It directed the department to furnish the report while keeping ...