GST Reform 2025: A Major Tax Overhaul on the Horizon India is considering a significant restructuring of its Goods and Services Tax (GST) system, aiming to simplify the current four-slab structure into just two main rates: 5% and 18%. If approved by the GST Council, this would be the most substantial change to the tax … Read more
It seems you want me to rewrite the provided text about the ITR-6 utility and related tax filing issues. Here is a rewritten version that is clear, direct, and easy to read. Tax Filing Crunch: New ITR-6 Utility Adds to Woes The Income Tax Department has finally released the ITR-6 utility for companies, but the … Read more
General Instructions for Returns until A.Y. 2020-21 General Instructions for Returns from A.Y. 2021-22 onwards Windows OS Architecture: ia32, x36 Windows 7 or later are supported (ia64, x64 systems binaries will run on ia32) Please note, the ARM version of windows is not supported. Note: Hardware: Intel pentium processor or later that’s SSE2 capable or AMD … Read more
The Income Tax (No. 2) Bill, 2025, passed by the Lok Sabha, is set to overhaul the existing tax system for individuals and families in India. Spearheaded by Union Finance Minister Nirmala Sitharaman, this new legislation will replace the Income Tax Act, 1961, and come into effect on April 1, 2026. The key highlight is … Read more
Tax Relief for Salaried Employees: ₹75,000 Standard Deduction is Now Official The government has officially cleared up confusion for salaried employees by legally cementing the ₹75,000 standard deduction under the new tax regime. This move, which follows an announcement in the Union Budget 2024, makes the benefit a permanent part of the tax law. The … Read more
A delayed income tax refund can be frustrating, but understanding the common reasons behind the holdup can help you take the right steps. Often, the delay is due to a few key issues with the information submitted in your return. Mismatched or Incorrect Information One of the most frequent causes of delay is a discrepancy … Read more
The new Income Tax Bill, slated to take effect from April 1, 2026, aims to modernize and simplify India’s tax system. This new legislation introduces several key changes for taxpayers, from filing deadlines to pension and property taxation. Here are the eight crucial updates every ITR filer should be aware of: 1. No Penalty for … Read more
ITR Filing Deadline 2025: With just over a month remaining until the September 15 deadline, the debate over a further extension is heating up. The Income Tax Department has already pushed the due date for non-audit taxpayers (like individuals and HUFs) for the financial year 2024-25 from the usual July 31 to September 15, 2025. … Read more
Major Tax Relief for Salaried Individuals: Standard Deduction Reinstated and Rebate Enhanced The government has passed the Taxation Laws (Amendment) Bill, 2025, which corrects a previous drafting error and aligns tax provisions with the announcements made in Budget 2025. This amendment provides significant tax relief for salaried individuals under the new tax regime for the … Read more
Major Tax Changes for Salaried Employees: What You Need to Know The government has introduced significant changes to India’s income tax structure, bringing clarity to deductions and tax slabs. Here’s a breakdown of the key updates affecting salaried individuals, as confirmed by the Finance Minister and now part of the new legislation. Standard Deduction Increased … Read more
