Taxpayers can enjoy a 25% reduction in additional tax and interest by filing updated ITR for AY 2023-2024 by March 31, 2025, ...

The income tax department will check and match your current income tax return filed with the previous year's ITR from next ...

If you file Income Tax Return (ITR) every year, then you will need to be more cautious than before while filing it next time.

The present appeal has been filed by the assessee, against the order dated 19.03.2024, passed by Principal Commissioner of Income Tax (‘PCIT’ for short), Mumbai u/s. 263 of the Income Tax Act, 1961 ...

One key contention was the computation of taxable surplus from the life insurance business. The assessee argued that the assessment was not in accordance with Section 44 and Rule 2, which should be ...

They can entirely avoid paying federal estate taxes. However, there are different ways to calculate depreciation ... days or less in a calendar year, the income is tax free.

Gray/U.S. Navy The story of Republican tax policy in the Trump era is the contest between pro-growth ideas and anti-growth income redistribution ... such “bonus depreciation,” which began ...

As a result, our unabsorbed fixed production costs ... Our net income (loss) before interest expense, income taxes and depreciation and amortization expense (EBITDA) (see description of non ...