Explains how the new Act replaces the 1961 law, simplifies drafting, introduces the “Tax Year” concept, and aims to reduce litigation and compliance ...
Many types of income in India are completely exempt from tax under the Income-tax Act, provided certain conditions are met.
Residential status under Section 6 determines whether a taxpayer is liable for global income or only Indian-source income. The rules classify taxpayers as Resident, RNOR, or ...
Union Finance Minister Nirmala Sitharaman has entered the history books after presenting the ninth consecutive Budget.
As India prepares to roll out the new Income-tax Act and Draft Income-tax Rules from April 1, 2026, experts say the changes ...
The Indian government has released new draft income tax rules in line with the New Income Tax Act. Discover the new ...
India’s crypto tax framework, introduced on April 1, 2022, is fully intact in 2026. Digital assets are classified as Virtual ...
Indians working abroad can claim Foreign Tax Credit (FTC) by filing Form 67. Draft rules propose renumbering it to Form 44, requiring CA certificates for companies and individuals with foreign tax ...
Check 10 completely tax-free incomes in India including PPF, Sukanya Samriddhi, agricultural income, tax-free bonds and ...
An NRI faced a tax addition of ₹56.15 lakh after buying property in India when the tax department questioned the source of funds. However, the ITAT Ahmedabad deleted the addition after verifying that ...
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Income tax return: Who must file ITR in India? Rules and step-by-step process | Explained
Income Tax Return: Under the new tax regime, the effective threshold may start from Rs 3 lakh for some, but mandatory filing applies if income crosses the exemption.
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