Below is a table where, Income tax department has released a list of FAQ discussing various situations where an Income...

Although in the circular they have mentioned that higher TDS shall not be charged, however no resolution has been provided...

wherein as per the proposed amendment the long term immovable property owner will have the option to determine tax at...

Below are the FAQ's issued by Income tax department in relation to the change in Capital gain provisions under the...

However, while processing the return the Income tax department is showing such return as defective return under section 139(9) of...

Tax rates on capital gain increased: STCG rates on certain assets will be made 20%. LTCG rates on certain assets...

The issue has been arisen because of the proviso added by Finance Act, 2023 which states that wherein total income...

If the employee don't disclose such asset in their schedule FA it could lead to a penalty of Rs.10 lakh...

Further, the income tax department while conducting scrutiny or assessment for cases only considers sale consideration as income of the...

Cost inflation index (CII) is used in Income Tax to give inflation effect to cost for long term capital asset...

According to the provision of Act and debt oriented mutual fund purchased after 01.04.2023 or market linked debentures will always...

The benefit enjoyed by bank employees from interest-free loans or loans at a concessional rate is a unique benefit/advantage enjoyed...

When one shows this income as business income they cannot offer this income under 44AD, as 44AD does not allow...

This new functionality is expected to increase transparency by displaying such information in AIS to the taxpayer. This is another...

Section 6 deals with deciding on the residency of a person under Income tax act. In this article we shall...