Income tax deadline on March 31: Taxpayers can avail 25% lower additional tax benefit on filing updated ITRs
Taxpayers can enjoy a 25% reduction in additional tax and interest by filing updated ITR for AY 2023-2024 by March 31, 2025, ...
Income tax department to compare your last year ITR with current year’s ITR for any irregularities: How taxpayers will be impacted?
The income tax department will check and match your current income tax return filed with the previous year's ITR from next ...
YourStory10h
IT dept rejects PB fintech subsidiary’s Rs 86 Cr expense claim, issues Rs 9 Cr demand notice
The Income Tax Department has disallowed Rs 85.6 crore in expenses claimed by PB Fintech’s subsidiary, Paisabazaar Marketing ...
The Financial Express5d
New Tax Rule: Govt to match your current ITR with previous year’s to find inconsistencies – Details here
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 Financial Express4d
File updated ITR before March 31
(Photo/IE) Taxpayers must file their updated Income Tax Return (ITR ... application of an incorrect tax rate and and reduction in unabsorbed depreciation. Avnish Arora, executive director, Direct ...
Tax Guru19d
Taxation of life insurers must follow prescribed actuarial methods
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 ...
2 strategies to avoid paying taxes on your rental properties
If you own properties, it's worth looking into cost segregation and 179D studies.
USA Today8d
How the top 1% use these six loopholes to skirt $160 billion in taxes each year.
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.
Tax Guru21d
Reopening Invalid If Reopening Grounds were discussed in Original Assessment: Bombay HC
Bombay High Court overturned a reassessment notice issued to Indusind Media & Communications Ltd. under Section 148 of the Income Tax Act for the assessment year 2007-08. The core issue revolved ...