A key point of contention was the society’s claim for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961, for interest income received from various banks, including nationalized banks.

If you don't pay what you owe on your taxes when you request an extension, you might get hit with an underpayment penalty. To ...

The 2025 tax filing season is underway, and there are several tax benefits that can help homeowners save money this year.