Big relief for flat owners: No income tax payable if you get a new flat in exchange for old, rules Mumbai ITAT
If your residential building or society is set to undergo redevelopment anytime soon, or you have agreed to exchange …
Income Tax
Major Amendments in Form 3CD from April 1, 2025 notified
The Central Board of Direct Taxes (CBDT), via Notification No. 23/2025 dated March 28, 2025, introduced several updates to Form …
Here’s why businesses will have to file financial statements in a new format
A new accounting standard prepared by the Institute of Chartered Accountants of India (ICAI) based on a global accounting rule …
Big Update: ITR-U Filing for AY 2021-22 & 2022-23 to Go Live Soon
The Finance Act, 2025 has introduced a significant change in the time limit for filing Updated Income Tax Returns (ITR-U). In a move …
Cap gains of NRIs on mutual fund units can’t be taxed in India: ITAT
In a major relief for a Non-Resident Indian (NRI) investor, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) …
GST officials step up drive to register more traders under tax regime
As part of the Union Finance Ministry’s outreach to increase the country’s tax base, the field formations of the Central …
Old tax regime vs new tax regime with revised slabs: What to choose in 2025-26?
The new income tax regime will feature the revamped tax slabs from April 1, 2025 onwards, with individuals not requiring …
New ITR Form Introduced ITR-B
In a significant move aimed at strengthening tax compliance and streamlining assessments related to undisclosed income, the Income Tax Department …
Sirsa barber receives ₹37 crore income tax notice
Talking to media persons in Sirsa, Rakesh Kumar said that he has been running a barber shop near the Dera …
MSME makeover: New definitions unlock bigger benefits, faster resolutions
The union government, in a notification dated 21 March, amended the definitions of micro, small, and medium enterprises, raising limits …
