With the deadline for filing Income Tax Returns (ITRs) fast approaching, the Income Tax Department has made it clear that there will be no further extension beyond July 31, 2026, for eligible taxpayers. The announcement comes amid growing speculation that the deadline might be extended due to the large number of pending filings. Officials have...
On Monday, Union Finance Minister Nirmala Sitharaman unveiled the updated New Income Tax Bill, 2025, which aims to replace the current Income Tax Act of 1961. This revised Bill was introduced after incorporating nearly all recommendations from the Select Committee. The Finance Minister presented the amended Bill following the suggestions made by the Select Committee,...