Many types of income in India are completely exempt from tax under the Income-tax Act, provided certain conditions are met.

Advance tax means paying your income tax in instalments during the financial year, instead of paying the entire amount while ...

The new legislation reorganizes provisions related to return processing, scrutiny assessments, and reassessment of escaped income. It simplifies drafting while largely retaining the existing ...

Residential status under Section 6 determines whether a taxpayer is liable for global income or only Indian-source income. The rules classify taxpayers as Resident, RNOR, or ...

According to CA Dr Suresh Surana, the Income-tax Act, 2025 (ITA 2025) aims to simplify compliance, rationalise procedures and align the tax framework with current economic realities. Several key ...

The department acknowledged the issue and apologised for the inconvenience caused to taxpayers. "The Department thanks ...

Returning NRIs must understand RNOR to ROR tax transition, Schedule FA disclosure, foreign income reporting, and FEMA rules to avoid costly mistakes in first Indian tax return.

Indians working abroad can claim Foreign Tax Credit (FTC) by filing Form 67. Draft rules propose renumbering it to Form 44, requiring CA certificates for companies and individuals with foreign tax ...

Income tax on pension is added to total income and taxed under slab rates. Payout structure, annuity income, and retirement planning affect post-retirement cash flow.

The tax and ITR (Income Tax Return) filing system in India is set to undergo a major transformation starting April 1, 2026. The over-60-year-old system is being replaced by the concept of a "Tax Year, ...

Jaipur: Disabled war veterans across India have condemned a Budget decision to impose income tax on War Disability Pension ...