The appellant, a registered cooperative society, contended that the deduction was allowable under Section 80P (2) (d) based on precedents set by various judicial forums, including ITAT Mumbai. The ...

Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal. Also, Section to Section mapping ...

1.1 On the facts and in the circumstances of the case and in law, the order passed by the National Faceless Appeal Centre (NFAC) under section 250 of the Income-tax Act, 1961 (IT Act) is erroneous, ...

Spanning 622 pages, the new I-T Bill 2025 and aims to replace the 60-year-old Income Tax Act of 1961 and once passed will be called the Income Tax Act, 2025. It is expected to take effect in April ...

The new tax regime does provide tax slabs in a tabular format. Under the Income-Tax Act 1961, senior citizens are entitled to a deduction of up to Rs 50,000 for interest income from bank and post ...

This comes in the backdrop of Finance Minister Nirmala Sitharaman raising the tax-rebate threshold from ₹7 lakh to ₹12 lakh ...

The 2025 Income-tax Bill, recently presented in Lok Sabha, aims to modernize and streamline India's longstanding direct taxation system by simplifying provisions, eliminating outdated references ...

The Simplified Income Tax Bill 2025, introduced by Finance Minister Nirmala Sitharaman, will replace the outdated Income Tax ...

with more than 57 tables compared to 18 in The Income-tax Act, 1961. Details that are of direct interest to taxpayers, including deductions, TDS/ TCS rates, and exemptions have been provided in ...

New Income Tax bill: It aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. If passed, the new law will come into effect from April 1, 2026.

The proposed income tax bill seeks to simplify and revamp the Income Tax Act of 1961, which has often been criticised for its complexity, making it challenging for ordinary taxpayers to navigate.

The Alberta Corporate Tax Act (ACTA) requires prescribed corporations to file the Alberta Corporate Income Tax Return − AT1 (AT1 Return) electronically, which must be done using the net file service.