The Finance Ministry announced a remarkable growth in India’s net direct tax collection, reaching Rs 8,65,117 crore as of September 16. This includes CIT amounting to Rs 4,16,217 crore and…

Revised Valuation Norms for Rent-Free Accommodations Benefit Employees Employees receiving rent-free accommodation from their employers are in for some good news as the income tax department has made significant revisions…

Introduction Businesses can now claim input tax credit (ITC) on items such as gold coins and white goods, which are procured for distribution to dealers as part of promotional schemes.…

Ensure the Verification of Your Income Tax Return (ITR) to Prevent Rejection The Income Tax Department has issued a strong reminder to all income tax return (ITR) filers: make sure…

Income Tax Refund: Reasons and Solutions for Delayed ITR Refunds If you haven’t received your Income Tax Refund (ITR), there could be several reasons for the delay. It’s important to…