Government of India Ministry of Finance (Department of Revenue Central Board of Indirect Taxes & Customs North Block, New ...

The income tax rates for the assessment years (AY) 2025-26 and 2026-27 remain unchanged across categories. Under Section 115BAC, default rates for individuals and Hindu Undivided Families (HUF) ...

Under the provisions of section 87A of the Act, an assessee, being an individual resident in India, having total income not exceeding Rs 5 lakh, is provided a rebate of 100 per cent of the amount of ...

These amendments aim to eliminate ambiguity and ensure uniformity in calculating the limitation period for tax proceedings. Most of the changes will take effect from April 1, 2025, while some ...

2. It is proposed that TDS rate under section 194LBC of the Act be reduced from 25% and 30% to 10% as this sector is sufficiently organized and regulated. 3. This amendment will take effect from the ...

Budget outlines measures to boost investment and employment, particularly focusing on the International Financial Services Centre (IFSC). Key provisions include extending tax incentives for IFSC units ...

Section 194-I of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, shall deduct income-tax ...

Section 194BB of the Act requires that any person, being a bookmaker or a person to whom a license has been granted by the Government under any law for the time being in force for horse racing in any ...

Section 194H of the Act requires that any person, not being an individual or a Hindu undivided family, who is responsible for paying, to a resident, any income by way of commission (not being ...

The Finance Bill 2025 proposes amendments to Sections 132 and 132B of the Income-tax Act to streamline search and seizure procedures. Currently, under Section 132(8), approval for retaining seized ...

Section 194B of the Act requires that any person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle or card game and other game of any sort or from ...

The Finance Minister introduced the Finance Bill, 2025 in Lok Sabha today, 1 st February 2025. Changes in Customs, Central Excise and rates have been proposed through the Finance Bill, 2025. To ...