Tag: Income tax act 1961
Posted in Economy
Record 7.8 crore ITRs filed for AY26-27 as August 31 deadline ends
New Delhi: A record of more than 7.8 crore Income Tax Returns (ITRs) were filed for Assessment Year (AY) 2026-27 as on August 31, according…
Posted in Economy
Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to know
The government’s one-time Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 will come into force on August 16, giving eligible taxpayers a limited window to…
Posted in Economy
India’s direct tax body notifies Cost Inflation Index for this fiscal year
India‘s direct tax body has notified the Cost Inflation Index (CII), a tool to measure the rise in cost due to inflation, for fiscal year…
Posted in Economy
Explainer: Simplified Income Tax Act, 2025, to come into force from April 1
Beginning April 1, the Income Tax Act, 2025, will come into force replacing the six-decade old tax law and the changes made in tax laws…