CBDT Increases Monetary Limits for Filing Income Tax Appeals from 17 September 2024 – Circular 9/2024
New Delhi, September 17, 2024: The Central Board of Direct Taxes (CBDT) has increased the monetary limits for filing income …
Income Tax
Major Changes in TDS and TCS Rates from 1st October 2024
The Finance Act (No. 2), 2024, introduces significant changes to the Tax Deducted at Source (TDS) and Tax Collected at …
Income Tax Amendments for streamlining Assessment, Appeals, and Refunds applicable from 1 October 2024
The Finance Act (No. 2), 2024, has introduced significant amendments to the Income Tax Act, 1961, aimed at streamlining various …
Tax Changes for Charitable Trusts from 1st October 2024
The Finance Minister, Nirmala Sitharaman, introduced significant changes for charitable trusts and institutions in the Finance (No. 2) Bill, 2024. …
How to use new electronic system to resolve Income Tax disputes
The Central Board of Direct Taxes (CBDT) has launched the e-Dispute Resolution Scheme (e-DRS) for taxpayers to resolve matters related …
OCI income tax depends on person’s residency status under I-T Act
A foreign national applied for an Overseas Citizen of India (OCI) card based on her marriage to an Indian citizen, …
Income Tax return refund delayed: Know likely reasons and solutions
You may submit your Income Tax return (ITR) on time but getting a refund may take time. The Income Tax …
Important Changes in PPF, Sukanya samridhi yojna Effective October 1,2024
On October 1, 2024, significant changes will take effect in small savings schemes like the Public Provident Fund (PPF), Sukanya …
New Income Tax Slab Rates & Deductions for AY 2025-26 (FY 2024-25) as amended by FA (No.2) 2024: Salary, Advance Tax and Special Cases
The financial year (FY) 2024-25 brings updated rates for deduction of income tax at source (TDS) from “Salaries” and computation …
Section 194DA: New TDS Rate on Life Insurance Policy Payments from 1st October 2024
Section 194DA of the Income Tax Act governs the tax deduction at source (TDS) on payments made under a life …
