Simplified Income Tax Bill brings in 'tax year' concept; omits 'previous year', obsolete clauses (Eds: Updating with details) ...
The Income Tax Appellate Tribunal (ITAT) Pune recently delivered a judgment in the case of Kamalesh Kantilal Patel vs. ITO, clarifying the disclosure requirements for assessees opting for the ...
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Revamping the tax regime
Nirmala Sitharaman introduces the Income Tax Bill 2025 in Parliament, aiming to replace the 1961 Act with a more ...
To streamline the law, the new bill reduces the number of pages from 823 to 622, removing redundant provisos and explanations ...
Every online tutor making money in India needs a Permanent Account Number (PAN). It's your proof of identity and super ...
One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...
The new legislation will feature 16 schedules and 23 chapters compared with 14 schedules in the existing Act, with sections ...