By: AdminJune 28, 2024Categories: Income Tax|Income Tax News4 Min Read July 31 – the due date for filing income tax returns for the financial year 2023-24 – is now just…
Search and Seizure of a godown cannot lead to penalty
By: AdminJune 28, 2024Categories: Important Pronouncements4 Min Read The Hon’ble Allahabad High Court in the case of M/s. Gopi Chand Batra Traders v. State of Uttar Pradesh [Writ Tax No.…
Futures and Options (F&O) transactions may attract higher tax rate
By: AdminJune 21, 2024Categories: Income Tax News|News4 Min Read The government is considering various options to discourage retail participation in the futures and options (F&O) segment. The proposed steps include…
Govt may hike exemption limit under new tax regime to Rs 5 lakh; relief unlikely for the rest
By: AdminJune 19, 2024Categories: Income Tax News|News4 Min Read The government is looking to give the country's impressive GDP growth a consumption boost to address weaker levels of spending by…
Budget 2024: Personal income tax rates likely to be slashed
By: AdminJune 18, 2024Categories: Income Tax News|News4 Min Read The government is reportedly considering reforms to the current income tax structure, particularly targeting lower income levels, to boost consumption, reported…
Income Tax returns show doubling of capital gains in AY23
By: AdminJune 18, 2024Categories: Income Tax News|News4 Min Read Income tax assessee’s have shown capital gain nearly double, during Assessment Year 2022-23 (AY23), as compared to AY22. Interestingly, Long Term…
Govt looks at income tax rate cut to boost demand, trigger private investment
By: AdminJune 18, 2024Categories: Income Tax News|News4 Min Read As the Indian economy grapples with the problem of flagging consumption, policymakers in the government are in favour of rationalising the…
Budget 2024: Income Tax relief for low earners on cards? Report claims govt mulling move to boost consumption
By: AdminJune 18, 2024Categories: Income Tax News|News4 Min Read The Centre is reportedly looking at rationalising the current income tax structure, especially for lower income levels, to boost consumption. Budget…