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For Section 44AD, the revised limit for opting Income Tax Presumptive Taxation Scheme from Assessment Year 2024-25 is Rs. 3 crore.

All About New Limits of Income Tax Presumptive Taxation Scheme For Section 44AD

Donations to political parties through electoral bonds in FY24 would still be able to claim benefits of 100% tax deduction while filing their returns before July 31.

Tax Relief on Electoral Bond Donations remains intact in FY 24

Individuals who have received substantial TDS deductions over their tax liability under IT Act can now seek relief, according to a recent TRACES Portal update.

Income Tax Department enables lower/nil TDS Application New Facility against Excessive TDS Deductions on TRACES Portal

The Income Tax Department sent notices to a number of taxpayers who donated to registered political parties that are not recognized by the Election Commission.

Income Tax Notice issued to Salaried Taxpayers for Donations to Political Parties

IT Department has discovered suspected transactions totalling over Rs.25,000 cr exposing more than 60 intermediate entities and hundreds of bank accounts in alleged Benami trades in the insurance industry.

Investigation on Suspected Rs.25,000 Crore Benami Transactions in Insurance Sector: IT Dept.

The Indian government may postpone Section 43B(h) of Income Tax Act 2013, which was revised to ensure prompt payment for micro and small businesses.

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All About New Limits of Income Tax Presumptive Taxation Scheme For Section 44AD

Tax Relief on Electoral Bond Donations remains intact in FY 24

Income Tax Department enables lower/nil TDS Application New Facility against Excessive TDS Deductions on TRACES Portal

Income Tax Notice issued to Salaried Taxpayers for Donations to Political Parties

Investigation on Suspected Rs.25,000 Crore Benami Transactions in Insurance Sector: IT Dept.

Indian Govt. considering Postponement of Section 43B(h) amid Industry Demands