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A defective return notice under Section 139(9) is issued when an income tax return (ITR) has errors, omissions, or incomplete details....

A Section 148 Notice is issued by the Income Tax Department when there is reason to believe that a taxpayer’s income has not been fully...

Section 245 of the Income Tax Act empowers the Income Tax Department to adjust a taxpayer’s refund against any pending or outstanding...

With the GST system in India constantly evolving, businesses are getting creative with trade discounts and marketing strategies to boost...

The Income Tax Department has established business codes that are used in ITR filing to identify the type of business or occupation of a...

Tax deductions at source (TDS) must be made on insurance commissions and life insurance premium payments, much as tax deductions at other...

A Section 143(2) scrutiny notice is issued when the Income Tax Department selects a filed ITR for detailed verification. It is a formal...

Starting a first job brings excitement and a new set of responsibilities, including understanding and managing taxes. For first-time...

Taxes are monetary fees that the government levies on individuals and organizations to raise money for public spending. Managing tax...

On August 22, 2025, the concept of the Income Tax Act, 2025 was formally introduced for the first time. Earlier, on August 11, Parliament...