Central Board of Direct Taxes expects the Institute of Chartered Accountants of India to go through the bill ...

The bill makes significant changes in the way the direct tax statute is written and presented, giving priority to simplicity, clarity and reduction in litigation arising from complexity, in stark ...

Taxpayers who have already selected the new tax regime in the Income-Tax Act 1961 will not need to choose it again in the ...

Union finance minister Nirmala Sitharaman on Thursday introduced the Income-Tax Bill, 2025 in the Lok Sabha aiming to abridge ...

New Income Tax Bill 2025 Highlights: Union Finance Minister Nirmala Sitharaman presented the new Income-Tax Bill 2025 in Lok ...

Om Birla, the Speaker of the Lok Sabha, has appointed a Select Committee under Baijayant Panda to scrutinize the Income-Tax ...

In light of the CBDT’s guidelines, which aim to reduce litigation in cases involving low tax effects, the ITAT deemed the appeal non-maintainable. Despite the non-appearance of the assessee, the ...

Bangalore recently allowed an appeal filed by JB Dairy Farms Private Limited, remanding a case concerning cash deposits made during the demonetization period back to the Assessing Officer (AO). The ...

The new Income Tax Bill 2025, scheduled to take effect on April 1, 2026, is set to foster a more transparent and taxpayer-friendly environment, representing a historic milestone in India's tax ...

Despite no tax up to Rs 12 lakh per annum, the system still has seven slabs. A truly simplified structure should have three ...

New York state has nine income tax rates, ranging from 4% to 10.9%. Tax credits and deductions, filing status and residency status can influence what you pay. Many, or all, of the products ...

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...