For computation of capital gains arising on slump sale u/s 50B ... should go so that the maximum marginal rate of tax is ...

The AO, however, disallowed a portion of the interest expenditure under Rule 8D (2) (ii) of the Income Tax Rules, 1962, stating that the company had incurred interest expenses of Rs. 26,27,659. The AO ...

ITAT Ahmedabad held that CIT (A) erred in upholding addition made by AO without considering the additional evidence. Such failure to admit and evaluate the additional evidence constitutes a violation ...

If a taxpayer misses the deadline to file their income tax return by November 15, 2024, they still have the option to submit ...

Safaricom says it is engaging the Kenyan authorities to ensure that the reforms do not scale back efforts to digitise the ...

However, the Bill proposes to amend the Income Tax Act to provide for allowable deductions in the computation of taxable ...

These rates serve as the reference rates for foreign exchange required for ITR (Income Tax Return) purposes and are unfortunately not made readily available by RBI or SBI.

Indeed, the late great Albert Einstein once admitted that figuring out tax computation was beyond him.

National Treasury Cabinet Secretary John Mbadi has unveiled plans to introduce new tax measures and amendments days after the ...

PeopleImages / Getty Images The term “tax break” refers to a benefit offered by the government that reduces your total tax liability. Tax breaks are made possible by tax laws and typically ...

Do I always have to pay tax on my income? Tax-free allowances reduce the amount of tax you have to pay on income you receive. There are two types: Allowances – allow you to earn a certain amount of ...

How much tax will I pay? If you're a basic-rate taxpayer, what you pay in tax accounts for around a third of the money you earn. Types of tax deducted from your income, such as PAYE and National ...