INCOME TAX RETURN

Income Tax Notice, Order without Signature Is Invalid, Rules Bombay HC

Allowing a petition filed by a taxpayer, the Bombay High Court ruled that an order passed based on unsigned notice is bad in law while setting aside the notice and order issued by the income tax (I-T) department.  In an order passed earlier this month, the division bench of Justice Dhiraj Singh Thakur and Justice …

Income Tax Notice, Order without Signature Is Invalid, Rules Bombay HC Read More »

Exemption-less income tax regime; see changes

Exemption-less income tax regime; see changes

Less than half a million taxpayers have opted for the new exemption-less income tax regime since its rollout, prompting a review to see if measures are needed in the budget to promote its adoption, people familiar with the matter said. About 75.2 million income tax returns have been filed in the current assessment year. “Response …

Exemption-less income tax regime; see changes Read More »