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Electoral bonds scrapped: What about status of benefits assured to taxpayers?

Electoral bonds issued by individuals or entities were eligible for tax exemptions under Section 80GG and Section 80GGB of the Income Tax Act, 1961 ....

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New TCS rule from next month: Three tips to reduce Tax Collected at Source on your foreign trip

New TCS rule from 1 October 2023: TCS on foreign remittances under LRS raised to 20% from 5% in Union Budget 2023. Effective from October 1, 2023 ....

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Advance tax second instalment payment due date: Know the penalty for missing the deadline

Last day to pay second installment of advance tax for FY 2023-2024. Penalty interest for late payment applies ....

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How the revamped income tax website will benefit taxpayers — explained

The revamped income tax website provides enhanced taxpayer services and a user-friendly interface with new features and modules ....

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Moonlighting: Why income tax department is sending notices to these taxpayers

The income tax department sends notices to individuals who earned extra money through moonlighting but failed to mention it on their tax returns. Moonlighting income can complicate tax calculations and taxpayers may have to pay additional taxes and interest ....

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