BUSINESS

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BUSINESS

Indexation Relief: Finance Minister Nirmala Sitharaman Announces Relaxation of Real Estate Indexation Rules

Indexation Relief: Finance Minister Nirmala Sitharaman addressed Parliament on Wednesday, announcing significant changes to the real estate indexation rules, providing flexibility and potential tax relief for property owners. This move aims to alleviate the tax burden and offer more options for calculating long-term capital gains (LTCG) tax on property sales.
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IT Dept launches 'Jhatpat Processing' for filing income tax returns
BUSINESS

Income Tax Department Warns Against Fraudulent ITR Claims as Filing Deadline Approaches

Income Tax: Today, 31st July, marks the final day for filing Income Tax Returns (ITRs) for individuals whose income is not subject to audit. This deadline encompasses all employed individuals. With nearly 6 crore ITRs filed before the deadline, the Income Tax Department has issued a stern warning against dishonest practices some taxpayers may resort to in an attempt to save on taxes.
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