Tag: income tax act
E-filing portal to facilitate compliance under both tax laws during transition: I-T Dept
New Delhi: The Income Tax department on Monday said its e-filing portal will facilitate compliance under the old and Income Tax Acts, and all assessments,…
New I-T Act framework notified; taxpayer relief with stricter compliance from April 1
New Delhi: The Central Board of Direct Taxes on Friday notified the rules to operationalise the new simplified Income Tax Act, with a mix of…
Government tightens tax framework for foreign digital entities
New Delhi: India has proposed to tighten the tax and reporting framework for the digital entities by sharpening the definition of significant economic presence (SEP),…
I-T return forms, rules under simplified Income Tax Act, 2025 to be released by January 2026
New Delhi: The government will release income tax return forms and rules under the simplified Income Tax Act, 2025, by January 2026, giving taxpayers time…
NITI Aayog bats for reforms in I-T Act with focus on decriminalisation
New Delhi: The NITI Aayog has proposed a series of reforms in the Income Tax Act, 2025 including decriminalisation of 12 minor infractions, removal of…
Govt allows physical forms for UPS, sets September 30 deadline
New Delhi: Government employees unable to submit requests for the Unified Pension Scheme (UPS) online due to technical glitches can file a physical form with…
Govt urges employees to opt for UPS before September 30, allows physical submission of opt in request
The Finance Ministry on Thursday asked government employees to opt for shifting to the Unified Pension Scheme (UPS) well before the September 30 deadline and…
Budget 2025 could start implementing Direct tax code by cutting tax rates, removing exemptions, lay out road map
There is a buzz going around that Finance Minister Nirmala Sitharaman is likely to introduce a new income tax bill in the budget session of…