Visakhapatnam, partly allowed an appeal filed by the legal heir of a deceased assessee, granting a deduction under Section 54F of the Income Tax Act despite non-compliance with the deposit requirement ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...

These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

In her Budget 2025 address, FM Nirmala Sitharaman announced modifications to the new tax regime, such as the exemption of up ...

In the Budget 2025, Finance Minister Nirmala Sitharaman increased the income tax rebate limit from Rs 7 lakh to Rs 12 lakh in the New Tax Regime. Effectively, individuals earning up to Rs 12 lakh will ...

The Telangana High Court reviewed a writ petition filed by Global Organisation for Development against the Commissioner of ...

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax ...

As per Budget 2025, starting April 1, 2025, all insurance policies acquired from an IFSC registered office will receive tax ...

The latest clarification classifies ULIPs as capital assets, with proceeds taxed under ‘capital gains’ instead of ‘income ...

Budget 2025 has clarified that ULIPs where annual premiums exceed Rs 2.5 lakh a year or 10 percent of the sum assured will be ...

Budget 2025 introduces key personal tax reforms focusing on Viksit Bharat. Amendments include a new income-tax bill, revised ...

The announcement of the 2025 Union Budget brought relief to many taxpayers, particularly those with an income of up to ₹12 ...