A significant overhaul of India’s tax system is underway with the proposed Income Tax Bill, 2025. The Select Committee tasked with reviewing the bill has submitted its report to the Lok Sabha, recommending 285 changes to simplify the legislation and make it more taxpayer-friendly. This report was presented to the Lok Sabha on Monday, July … Read more
The Lok Sabha Select Committee has submitted its report on the Income Tax Bill, 2025, proposing several significant changes to streamline and clarify India’s direct tax laws. The report, presented to the House on Monday, July 21, 2025, outlines key recommendations to simplify the tax code, ensure consistency with existing legislation, and enhance ease of … Read more
Lok Sabha Select Committee Presents Report on New Income Tax Bill New Delhi, India – The Select Committee of the Lok Sabha today, Monday, July 21, 2025, submitted its much-anticipated report on the Income Tax Bill, 2025, to the House. BJP leader Baijayant Panda, who chairs the 31-member panel, handed over the report to the … Read more
Delhi Post Offices Temporarily Closed for Digital Upgrade Today Many post offices across Delhi are shut today, Monday, July 21, 2025, as the Department of Posts rolls out a major digital upgrade to its computer system, “Application for Post Office Transactions 2.0.” This essential downtime will help the postal network handle services faster and more … Read more
Understanding how capital gains tax applies to your mutual fund investments is crucial, especially when filing your Income Tax Return (ITR) for FY2024-25. Many taxpayers find this area confusing due to the different types of funds and holding periods. Let’s break down what you need to know. Key Changes for FY2024-25 The Union Budget 2024 … Read more
The tax filing season for Financial Year 2024-25 (Assessment Year 2025-26) is underway, and with over a crore returns already submitted, it’s crucial to pick the right Income Tax Return (ITR) form. While ITR-1 and ITR-4 utilities are currently active for e-filing, ITR-2 and ITR-3 are expected to be enabled soon. Good news for taxpayers: … Read more
ITR Filing FY2024-25: Don’t Miss These Crucial Details on Investment Income The tax filing season for FY2024-25 (Assessment Year 2025-26) is underway, and with the deadline extended to September 15, 2025, for non-audited taxpayers, you have a bit more time to get things right. But don’t let that lull you into a false sense of … Read more