No Refund If ITR is Filed After the Due Date No Refund If ITR is Filed After the Due Date The introduction of the Income Tax Bill 2025 in the Lok Sabha raised concerns among taxpayers about whether they would be eligible for a refund if they filed their Income Tax Return (ITR) after the … Read more
Understanding the Tax Year Understanding the Tax Year Taxation laws define the tax year as a crucial period for assessing and computing income tax. For individuals, businesses, and professionals, understanding the concept of the tax year is essential for proper tax planning, compliance, and financial reporting. This article explains the meaning of the tax year, … Read more
New vs. Old Regime Slabs & Tax Calculator for FY25 & FY26 Income Tax Bill 2025: New vs. Old Regime Slabs & Tax Calculator for FY25 & FY26 New vs. Old Regime Slabs & Tax Calculator for FY25 & FY26 The Income Tax Bill 2025 has been introduced in Parliament with the objective of simplifying … Read more
New Income Tax Bill New Income Tax Bill Finance Minister Nirmala Sitharaman introduced the New Income Tax Bill, 2025 in the Lok Sabha on February 13, aiming to simplify the existing Income Tax Act, 1961. If passed, the new law will come into effect from April 1, 2026. One of the key reforms proposed in … Read more
Property and Co-Owned Property Will Be Taxed Property and Co-Owned Property Will Be Taxed The Income Tax Bill 2025, recently introduced in the Lok Sabha by Union Finance Minister Nirmala Sitharaman, aims to simplify and streamline taxation laws. Spanning 620 pages, the bill is nearly 50% shorter than the existing Income Tax Act. Among the … Read more
