Income Tax: The Union Budget 2026 introduces amendments to the Income Tax Act that simplify compliance for taxpayers. Here is a list of crucial changes for Indian taxpayers.

The ITAT Ahmedabad cancelled the penalty under Section 271(1)(c) after setting aside the assessment for fresh adjudication, holding that penalty based on the original order cannot survive once the ...

The ITAT Indore held that penalty under Section 272A(1)(d) cannot survive where the assessment is completed under Section 143(3) after considering the taxpayer’s delayed submissions, as such ...

Jaipur, The disabled war veterans of Indian defence forces in Rajasthan have urged the Centre to reconsider the decision to withdraw income tax exemption on pensions they received for injuries ...

New Income Tax Rules, 1962, mandate banks to gather extensive details on account holders and controlling individuals. This includes self-certification status, joint account specifics, and the nature ...