Income Tax Act 1961

The bench comprising Justices BV Nagarathna and Satish Chandra Sharma, delivered divergent opinions on the legal interpretation of Sections 144C and 153 of the Income Tax Act, 1961.

New Income-Tax bill to provide clearer definition of online games

The Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or telecom device.

FM Nirmala Sitharaman chairs meeting to review Income Tax Act

During the Union Budget 2024-25 that was presented on July 23, Sitharaman announced the review of the decades-old law and simplify it

Haven't filed your ITR yet? Here's what happens if you miss the deadline today

The ITR filing deadline has been extended twice, first from the usual July 31, 2021, to September 30, and then eventually, to December 31

Budget 2021: How relevant is Income Tax Act, 1961 today?

Finance Minister Nirmala Sitharaman will present the Union Budget 2021 on February 1.

MNCs can lease out assets to group entities: DIPP clarifies

"Facility sharing agreements between group companies through leasing/sub-leasing arrangements for the larger interest of business will not be treated as 'real estate business' within the provisions of the Consolidated FDI policy circular of 2015," it said.

Must know tax saving options for retail investors

It is that part of the year wherein the rush for investment in tax savings schemes is at its peak. With only a few days to close the financial year 31 March 2011, the retail investor class is keen to offload their earnings into savings instruments which would be investment oriented as well as assist them in saving taxes to a certain extent.