No Income Tax on annual income upto Rs.12 lakh under New Tax Regime Limit to be Rs. 12.75 lakh for salaried tax payers, with standard deduction of Rs.75,000 Union budget 2025-26 brings across-the-board change in income tax slabs and rates to benefit all tax-payers Tax slab rate reduction and rebates to result in substantial tax … Read more
Highlights of Union Budget 2025-26 PART A Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today. The highlights of the budget are as follows: Budget Estimates 2025-26 AGRICULTURE AS THE 1ST ENGINE OF DEVELOPMENT Prime Minister Dhan-Dhaanya Krishi Yojana – Developing Agri Districts Programme Building Rural Prosperity … Read more
PAN 2.0 : Do I need to change my PAN card under the PAN 2.0? FAQs answered! PAN 2.0 Project is a one-stop platform to comprehensively address issues/matters related to PAN and TAN, including application, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and even online PAN validation The Cabinet Committee on Economic Affairs (CCEA) has approved … Read more
Income Tax Department Identifies Mismatches in Interest and Dividend Income Reporting Implementation of e-Verification Scheme-2021 The Income Tax Department has identified certain mismatches between the information received from third parties on interest and dividend income, and the Income Tax Return (ITR) filed by taxpayers. In many cases, taxpayers have not even filed their ITR. In … Read more
Income Tax Department Identifies Mismatches in Interest and Dividend Income Reporting Implementation of e-Verification Scheme-2021 The Income Tax Department has identified certain mismatches between the information received from third parties on interest and dividend income, and the Income Tax Return (ITR) filed by taxpayers. In many cases, taxpayers have not even filed their ITR. In … Read more
Income-tax (First Amendment) Rules, 2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th January, 2024 G.S.R. 64(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend … Read more
Income-tax (First Amendment) Rules, 2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th January, 2024 G.S.R. 64(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend … Read more
Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22): PCDA O/o PCDA(O), Golibar Maidan, Pune Subject: Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22). ********* Your kind attention is drawn where CPC, … Read more
Documents to be submitted by Employees for Tax Relief Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 5th August, 2022 S.O. 3703(E).- In exercise of the powers conferred by sub-clause (c) of clause (ii) of the first proviso to clause (2) of section 17 of the Income-tax Act,1961 … Read more