The government's Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS), 2026 came into effect on 16 August and allows eligible taxpayers to declare undisclosed foreign assets and seek immunity from penalty and…
The August 31 deadline for filing income tax returns (ITR) for non-audit cases is approaching. Livemint reports that freelancers must treat their income as business or professional income under the Income-tax Act.…
Professional tax is a state-level direct tax deducted from the salary of eligible employees by employers, or paid directly by self-employed individuals. Under Article 276 of the Constitution, the maximum amount per…
Over 6.5 crore income tax returns (ITRs) have been filed for the assessment year 2026-27 as of August 20, according to the Income Tax Department. The figure includes more than 2 crore…
Income tax officials, acting on police intelligence, seized Rs 10.3 crore in cash in two operations across Bengaluru and Tamil Nadu. The first seizure of Rs 9 crore came from a car…
Taxpayers can claim both House Rent Allowance (HRA) exemption and home loan interest deduction simultaneously if certain conditions are met, according to tax expert Siddharth Maurya. The benefits are available only under…
Indian citizens aged 60 and above can access a range of financial benefits by obtaining a senior citizen card from their state government. The card serves as proof of age and identity…
The Income Tax Appellate Tribunal (ITAT), Amritsar Bench, has deleted a Rs 2.33 crore addition made against Bhupendra Flour Mills Pvt Ltd for cash deposited during the 2016 demonetisation period. The company…
The number of income-tax return filers has risen 24% from 6.96 crore in 2021-22 to 8.67 crore in 2025-26, according to Minister of State for Finance Pankaj Chaudhary's written reply in the…
Taxpayers with business or professional income exceeding Rs 1 crore in FY 2025-26 must file Schedule AL along with their income tax return (ITR) before the August 31 deadline. The disclosure of…
Ashin Xavier: interesting
IO Repro: Repro test v4 after fix 2 Oct. Safe to trash.
IO Repro: Repro test v3 after fix 2 Oct. Safe to trash.
IO Repro: Repro test after fix 2 Oct. Safe to trash.