These cash transactions may attract up to 100% penalty by Income Tax Department
The Income Tax Department while acknowledging Indian society’s affinity with cash transactions warned that the Income Tax Act, 1961 discourages …
Income Tax
Pre-Budget Consultation 2025-26: Key Highlights from Jaisalmer Meeting
Union Finance Minister Holds Pre-Budget Consultation in Jaisalmer Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired a …
New Six-Year Rule for TDS/TCS Correction Statements: Hurry! File TDS Corrections Before the March 2025 Deadline
Amendment to Section 200(3): Timeline for Filing Correction Statements The Finance Act (No. 2), 2024, introduced a crucial amendment to …
PAN 2.0: A Digital Leap in Taxpayer Services
The Permanent Account Number (PAN) has long been a cornerstone of India’s financial and administrative systems, connecting individuals and businesses …
How will the new PAN card system work?
The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has approved the PAN 2.0 project, a …
CBDT released (FAQS) ON PAN 2.0
FREQUENTLY ASKED QUESTIONS (FAQS) ON PAN 2.0 PROJECT QUESTION 1 What is PAN 2.0? PAN 2.0 Project is an e-Governance …
Direct Tax Code implementation likely to take longer? When will we get new DTC?
The Income-Tax Act review, announced in the budget in July, could take longer than the anticipated six months, with an …
PAN 2.0: New e-PAN to come in mail without applying?
Existing PAN cards will continue to remain valid under the PAN 2.0 project with users supposed to automatically receive an …
New Circular of CBDT allows tax officers to waive interest due from assessee
New Delhi, The income tax department has allowed tax officials to either waive or reduce interest payable by a taxpayer, …
No tax rate reductions for old regime, clarifies Nirmala Sitharaman
The new regime features lower tax rates and an increased standard deduction of Rs 75,000. | File Photo Finance Minister …
