# income
12 posts in `income` tag
Budget 2024 New Income Tax Slabs Vs Old Income Tax Slabs
New Income Tax vs Old Income Tax Slabs: Exploring Changes and Comparisons. As Finance Minister Nirmala Sitharaman prepares to present the interim budget for FY25 on February 1, 2024, we anticipate updates to the income tax structure.
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By Krishna
Income Tax Exemptions Section 10 14 i Closer Look
In the Income Tax Act, Section 10(14)(i) outlines provisions related to allowances and perquisites—benefits provided by employers to employees as part of their salary.
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By Krishna
Income Tax Department Appeals Supreme Court High Court Order Validity
The Income Tax Department is contemplating filing an appeal in the Supreme Court. The process for filing the appeal is in its final stages, and expert opinions are being sought, as per the source.
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By Krishna
Considerations New Discard Option Income Tax Department
Filing your income tax return (ITR) is an annual task for taxpayers, and it's crucial to be aware of the necessary steps. As the number of filed tax returns increases, understanding the process becomes essential.
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By Krishna
Newly Introduced Discard Income Tax Return Feature Advantages
The “Discard” ITR option on the Income Tax Department's website allows taxpayers to permanently delete their filed tax returns. Once discarded, the return can not be retrieved by the taxpayer.
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By Krishna
Income Tax Rules Specified Financial Transactions Cash Deposits Withdrawals
As per the Income Tax Act, specific financial transactions are identified. If, during a financial year, an individual deposits cash amounting to Rs 10 lakh or more in a savings account, the bank is obligated to report such transactions.
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By Krishna
Indian Income Tax Act Modifications Supreme Court Retroactive Application Section 153C
In a recent decision, the Supreme Court highlighted a change in Section 153C of the Income Tax Act, stating that it will now apply retrospectively to cases predating the amendment.
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By Krishna
Guide to the Duty Drawback Scheme under the GST Act 2017
A Comprehensive Guide to the Duty Drawback Scheme under the GST Act 2017: Exploring Various Provisions
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By Krishna
Income Tax Calendar for December 2023: Key Deadlines You Should Not Miss This Month
All taxpayers must be mindful of important deadlines related to their income tax responsibilities. December 2023 presents several key dates that require attention.
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By Krishna
Tax Deadline Reminder: File Your Updated Return for Assessment Year 2021-2022
The Income Tax Department reminds taxpayers of the approaching deadline to file the Revised Income Tax Return (ITR) for the Assessment Year 2021-2022.
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By Krishna
CII Survey Accelerated Income Tax Refund Procedure
The survey, presented to Finance Minister Nirmala Sitharaman, indicated that 83% of surveyed individuals and 85% of firms reported an increased trust in the Income Tax Department.
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By Krishna
Register DSC Income Tax Portal Detailed Guide
In this comprehensive guide, we will walk you through the step-by-step process of registering your DSC on the Income Tax Portal, ensuring that you can seamlessly and securely engage in various tax-related activities online.
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By Krishna