The Tribunal ruled that VAT collected but not credited to the profit and loss account cannot be treated as taxable income. Once substantially paid to the government, such liability cannot be added ...

The case examined whether interest beyond Section 24 limits could be claimed when loan funds were temporarily used elsewhere. The Tribunal ruled that authorities must verify real deployment of funds ...

The definition of affordable housing has not changed since 2017, even as prices have surged. Rajnikant Mishra, founder and ...

Finance Minister Nirmala Sitharaman’s 2025 revamp of the new tax regime has reshaped personal taxation, delivering savings of ...

If an individual is earning about Rs 25 lakh and has deductions and exemptions of around Rs 8.5 lakh or more, the person ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

The IRS has issued new guidance on bonus depreciation, which was made permanent under the One Big Beautiful Bill Act. Here’s ...

Despite recent simplification, it remains unclear whether Budget 2026 will introduce further income tax changes ...

Discover the complete checklist of key documents required as income tax proof to make your ITR process smooth and hassle‑free.

The new tax regime, introduced to simplify compliance, removes most exemptions and deductions. However, it is not entirely ...

The current situation demands increasing the exemption limit for savings accounts from Rs 10,000 to Rs 20,000 and for senior ...

Under the new tax regime, home loan interest can be claimed only against rental income after the 30 percent standard ...