Clipped from: https://www.businesstoday.in/personal-finance/tax/story/as-mf-investor-are-my-gains-excluded-from-the-section-87a-rebate-calculation-under-new-tax-regime-in-fy2025-26-474519-2025-05-02 Section 87A offers a rebate to resident individuals with total incomes below a specified threshold. This rebate is subtracted from the income tax
Category: Five Star
*****New I-T return form eases disclosure burden for middle-income professionals – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/new-i-t-return-form-eases-disclosure-burden-formiddle-income-professionals-3830679/ CBDT notifies ITR-3 for AY 2025-26, easing disclosure for middle-income professionals. Key changes include higher asset threshold, split capital gains reporting, simplified deductions,
*****ITR Filing 2025: What taxpayers must know about sections 80C, 80D, 24B and more – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-filing-2025-what-taxpayers-must-know-about-sections-80c-80d-24b-and-more-3830112/?ref=hometop_hp As taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that
*****Tax filing schedule: July 31 is the last date to file ITR for FY 2024-25 for non-audit taxpayers – Tax filing schedule: July 31 is the last date to file ITR for FY 2024 25 for non audit taxpayers BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-filing-schedule-july-31-is-the-last-date-to-file-itr-for-fy-2024-25-for-non-audit-taxpayers-474346-2025-05-01 The deadline for filing Income Tax Returns for the financial year 2024-25 in India is set for 31st July 2025, with varying deadlines
*****YouTube paid ₹21,000 crore to Indian creators over the last three years | Entertainment News – Business Standard
Clipped from: https://www.business-standard.com/entertainment/youtube-paid-21-000-crore-to-indian-creators-over-the-last-three-years-125050100859_1.html Indian content is also finding a growing audience overseas. According to the company, videos produced in India generated 4,500 crore hours of watch
*****Life insurance covers death caused by terrorist attacks, with riders | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/life-insurance-covers-death-caused-by-terrorist-attacks-with-riders-125043001703_1.html Everyone with financial dependants should purchase life insurance. Individuals residing in sensitive or high-risk areas should make it a priority to buy this
*****Tax Reassessment Invalidated Due to Procedural Defect in Notice Service Under Section 148 Proceedings
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87893 ITAT adjudicated a tax reassessment case involving procedural … April 30, 2025 Case Laws Income Tax AT ITAT adjudicated
*****Tax Assessment Notices Invalidated Limitation Period Expired Tribunal Order Beyond Statutory Timeframe Renders Notices Null and Void
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87895 HC upheld the petition, declaring assessment notices for AY … April 30, 2025 Case Laws Income Tax HC HC
*****Tax Reassessment Order Upheld Procedural Defects Cured Jurisdictional Challenge Rejected Appellate Remedies Available
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87899 HC dismissed writ petitions challenging tax reassessment order. … April 30, 2025 Case Laws Income Tax HC HC dismissed
*****Assessment of Deceased Person Under Income Tax Act, 1961
lipped from: https://taxguru.in/income-tax/assessment-deceased-person-income-tax-act-1961.html Chartered Accountants, Advocates, or Tax Practitioners normally advise their clients to prepare a WILL and clarify which assets will be given to whom.
*****No More Nil TDS Certificates Under New Tax Bill 2025: Impact on Indians and NRIs Explained
Clipped from: https://www.taxscan.in/no-more-nil-tds-certificates-under-new-tax-bill-2025-impact-on-indians-and-nris-explained/510176/ The proposed Income Tax Bill 2025 has removes the option to obtain a Nil TDS certificate for all the taxpayers, including Indian residents
*****Income Tax Assessments Must Rely on Cogent Evidence, Not Assumptions: Delhi HC
Clipped from: https://taxguru.in/income-tax/income-tax-assessments-rely-cogent-evidence-assumptions-delhi-hc.html Rohit Gandhi Vs ITO (Delhi High Court) Delhi High Court held that the Income Tax Assessments must be based on cogent evidence rather
*****GST on apartment maintenance: A tax firm clears the air on ₹7,500 rule confusion – GST on apartment maintenance: A tax firm clears the air on ₹7,500 rule confusion BusinessToday
https://www.businesstoday.in/personal-finance/tax/story/gst-on-apartment-maintenance-a-tax-firm-clears-the-air-on-rs7500-rule-confusion-472415-2025-04-17 Clipped from: https://www.businesstoday.in/personal-finance/tax/story/gst-on-apartment-maintenance-a-tax-firm-clears-the-air-on-rs7500-rule-confusion-472415-2025-04-17 The biggest misconception? That if monthly maintenance exceeds ₹7,500 per flat, the entire amount is subject to 18% GST. This belief is
*****Did ICICI Bank outperform HDFC Bank in the March 2025 quarter? – Stock Insights News | The Financial Express
Clipped from: https://www.financialexpress.com/market/stock-insights/did-icici-bank-outperform-hdfc-bank-in-the-march-2025-quarter/3815067/?ref=stockinsights_hp ICICI Bank outperformed HDFC Bank in Q4 FY25 with higher profit growth, better NIM, and stronger credit growth. While both hit 52-week highs,
*****Section 263 Revision Unjustified as Assessment Not Erroneous or Prejudicial to Revenue
lipped from: https://taxguru.in/income-tax/revision-u-s-263-justified-assessment-order-erroneous-prejudicial-interest-revenue.html Chandrakant Vallabhbhai Koladia Vs PCIT (ITAT Ahmedabad) ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable
*****ITAT Delhi quashes reassessment order as Section 148 notice sent to wrong email ID
Clipped from: https://taxguru.in/income-tax/itat-delhi-quashes-reassessment-order-section-148-notice-wrong-email-id.html Nitin Jain Vs ACIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), Delhi, has allowed the appeal of Nitin Jain, quashing the reassessment order
*****Delhi HC Quashes Faceless Tax Assessment for Denying Personal Hearing
Clipped from: https://taxguru.in/income-tax/delhi-hc-quashes-faceless-tax-assessment-denying-personal-hearing.html Sanjay Aggarwal Vs National Faceless Assessment Centre (Delhi High Court) Delhi High Court has set aside an assessment order issued by the National
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