The 2025 Act introduces compulsory tax audit for businesses declaring profits below 6% or 8% of turnover. The shift eliminates the earlier opt-out condition, expanding audit applicability from ...
The Calcutta High Court stated that the Income Tax Department cannot withhold a refund under Section 245 of the Income Tax Act, 1961, unless it establishes tax liability. The Bench ...
The Madras High Court has held that payment for IPLC (International Private Leased Circuits) Services does not constitute ...
India is about to witness the biggest overhaul in its income tax system in more than six decades. From April 1 next year, the ...
New Income Tax Return forms and rules will be notified by January. These changes will be effective from April 1, 2026, ...
The I-T department will by January notify the ITR forms and rules under the simplified Income Tax Act, 2025, which will come ...
The new law removes redundant provisions and archaic language and reduces the number of sections from 819 in the Income Tax ...
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