Income Tax

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ByTeam Editorial September 14, 2026September 14, 2026

SC on Section 148 Notices | Mere Disclosure May Not Save Taxpayer | Sanand Properties SC Ruling
ByTeam Editorial June 17, 2026June 17, 2026

Supreme Court on Reopening u/s 147/148: Sanand Properties Ruling and the Dilution of “Change of Opinion” Defence Landmark Ruling: Sanand Properties P. Ltd. vs JCIT — 2026 INSC 472 The Hon’ble Supreme Court in Sanand Properties P. Ltd. vs Joint Commissioner of Income Tax, Range 6 & Ors., Civil Appeal No. 9107 of 2012 with…

Read More SC on Section 148 Notices | Mere Disclosure May Not Save Taxpayer | Sanand Properties SC Ruling
Best tax Saving Investment scheme ELSSs, how to invest in ELSSs?
ByTeam Editorial June 10, 2022July 16, 2022

Tax saving mutual funds or Equity linked Saving Schemes (ELSS) help you to save income tax under section 80C of the Income Tax Acts. You can invest a maximum of Rs 1.5 Lakh in ELSSs and claim tax deductions on your investments every financial year. Are you Interested? Before procedding further, you should first familiarise…

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What is the deadline for completing investments that save taxes for FY 2022-23?
ByTeam Editorial January 28, 2023January 28, 2023

The deadline to complete your tax-saving exercise for the financial year 2022–2023 is March 31, 2023, so move quickly if you haven’t already. Keep in mind that if you don’t make the tax-saving investments and purchases, your tax liability will be higher than normal for the current financial year (2022–2023). Please be aware that beginning…

Read More What is the deadline for completing investments that save taxes for FY 2022-23?
TDS can be reduced up to 5% if cash withdrawn from these schemes including PPF
ByTeam Editorial March 30, 2021

If your account is in Post Office or you invest in post office schemes then this news is for you only. Now if you withdraw more money than the stipulated amount, then TDS can be deducted on it. This rule of withdrawing money applies to various deposit schemes ranging from PPF. These rules related to…

Read More TDS can be reduced up to 5% if cash withdrawn from these schemes including PPF
11 ways to save tax for employed people, it is important to know before filling ITR
ByTeam Editorial October 19, 2020

Saving tax is a big challenge in front of the salaried calss. Most people get involved in manipulating tax saving in the last days of filing tax returns. But with a little planning, you can save a large part of tax if you want, the government itself has given many ways for this, through which…

Read More 11 ways to save tax for employed people, it is important to know before filling ITR
New Form ITR-U for Taxpayers Filing Updated Tax Returns
ByTeam Editorial May 7, 2022October 29, 2022

India’s income tax (IT) department has notified a new form, ITR-U, for taxpayers filing their updated tax returns. The move seeks to reduce lengthy adjudication timelines and use of resources for improper tax filing and is based on the self-assessment of taxpayers. What is the new ITR form? In the new form, ITR-U, the taxpayer…

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