Advance Tax Deadline Missed In December?? You May Have To Pay Interest Of….
Missing the advance tax deadline does not lead to a direct penalty under the Income Tax Act. However, taxpayers are required to pay interest if there is a delay or if the amount paid is less than what was due.
Dec 18, 2025, 13:48 PM IST
Taxpayers Alert: New ITR Forms Under Income Tax Act 2025 Before FY28– Details Here
The Central Board of Direct Taxes (CBDT) is holding detailed talks with tax experts, industry representatives and income tax officials nationwide to revamp the ITR forms. The goal is to make the forms more simple, clear and easy for taxpayers to understand.
Dec 14, 2025, 14:34 PM IST
Govt To Notify New ITR Forms By January 2026, Implement Them From April
The Taxpayers’ Lounge offer a wide range of assistance and interactive resources that help with PAN/e‑PAN applications, Aadhaar–PAN linking and resolving PAN-related queries.
Nov 18, 2025, 19:38 PM IST
Income Tax Act 2025 To Come Into Effect From April 1 Next Year -- Does It Impose Any New Tax Rate?
The Act received the President’s assent on August 21, according to a gazette notification issued by the Ministry of Law and Justice.
Aug 23, 2025, 07:20 AM IST
Explained: Four Amendments To Income Tax Act To Be Applicable In FY26
The major amendment grants tax exemption on dividends, interest, and long-term capital gains to sovereign wealth funds and pension funds investing in infrastructure from April 1, 2020, to December 31, 2030, subject to notification.
Aug 14, 2025, 15:30 PM IST
Govt To Introduce New Income Tax Act For Tech-Driven Taxpayers, Scrapping Convoluted Older Law
New Income Tax Act: According to the government, about 78 per cent of taxpayers have already shifted to the new tax regime. Still, according to sources, the government is not in the mood to make any major changes to the old tax regime.
Feb 03, 2025, 16:49 PM IST
How To Plan Tax-Saving Investments Under Section 80C; Check Here
Tax-Saving Investments Under Section 80C: It is important to note that the Section 80C of the Income Tax Act, of 1961, is one of the most popular and widely used sections for tax-saving purposes in India.
Dec 23, 2024, 17:47 PM IST
Does A PAN Card Ever Expire? Find Out What Happens After Cardholder's Death And How To Check Its Validity
PAN Card Expiry Date: The Permanent Account Number (PAN) card has become a vital document for numerous financial transactions and serves as a key proof of identity. According to Section 139A of the Income Tax Act, 1961, an individual is permitted to possess only one PAN card.
Dec 17, 2024, 16:05 PM IST
Govt Should Prioritise Review Of Income Tax Act, Get It Passed As Money Bill: SBI Research
The Central Board of Direct Taxes (CBDT) has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961 (Act), as was announced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman.
Oct 26, 2024, 09:26 AM IST
Do You Want To Give Inputs On Income Tax Act? Govt Invites Suggestions On e-Filing Portal
Check out the direct link which is accessible to the stakeholders/experts/public in the E-filing portal.
Oct 07, 2024, 17:43 PM IST
New Simplified Income Tax Law To Be Put Out For Stakeholder Consultation Soon
The Revenue Secretary further stated that the efforts of the government will continue to provide a hassle-free, simple, and collaborative approach towards the implementation of taxes.
Jul 25, 2024, 19:02 PM IST
'You Give More Money To Govt Than Spend On Yourself': Social Media Post On Income Tax Concerns Goes Viral
The viral post on X stirs a debate among users. Read on to find out the whole story.
Apr 03, 2024, 15:18 PM IST
Using HRA To Save Income Tax? Why It Isn't A Good Idea Anymore
The Income Tax Department is actively identifying individuals involved in fraudulent tax deductions.
Mar 30, 2024, 15:38 PM IST
Senior Citizen 5-Year FDs Of SBI, HDFC, ICICI, PNB vs SCSS: Where Should You Park Your Savings?
Currently, SCSS offers a guaranteed interest rate of 8.2 percent, effective from January 1, 2024.
Jan 24, 2024, 21:32 PM IST
Tax Season Is Here: Check Effective Ways To Save Money On Your Hard-Earned Income
Opportunities to save taxes and lower their overall tax liability are always welcomed by income taxpayers.
Dec 25, 2023, 11:30 AM IST
Can You Claim For HRA Exemption If Rent Is Paid To Your Parents?
House Rent Allowance or HRA is part of an employee's salary that employers provide to cover the cost of their rental accommodation.
Jun 08, 2023, 11:13 AM IST
Tax Implications for Indians Receiving Gifts From NRIs
Individuals need to pay taxes on gifts received from NRIs if the total value of the gift is more than Rs 50,000.
May 26, 2023, 15:10 PM IST
What You Need to Know About NRI Gift Tax in India
Individuals need to pay taxes on gifts received from NRIs if the total value of the gift is more than Rs 50,000.
May 26, 2023, 14:54 PM IST