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NUDGE Campaign: The Government of India has launched a data-driven “NUDGE” campaign for the Assessment Year 2025-26 to encourage taxpayers to voluntarily review their deduction and exemption claims. This initiative uses risk analytics to identify claims that appear potentially ineligible. According to a release from the Central Board of Direct Taxes, the campaign enables taxpayers…
New Delhi: The Income Tax Department will notify new income‑tax return (ITR) forms and related rules under the streamlined Income Tax Act, 2025, by January, and the updated regulations be effective from April 1, 2026. The updated regulations will mark the transition from the nearly six-decade old Income Tax Act of 1961, multiple reports cited…
The Centre is preparing to introduce a new set of income-tax return (ITR) forms under the overhauled Income Tax Act, 2025. The Central Board of Direct Taxes aims to notify these forms by January 2026 so they can come into force from April 1. The shift marks a major break from the 1961 tax law…
GST New Rule From July 2025: The Goods and Services Tax Network (GSTN) has announced significant changes effective from the July 2025 tax period. Going forward, the monthly GST payment form GSTR-3B will become non-editable after filing. Additionally, taxpayers will no longer be allowed to file any GST returns beyond three years from their original…
Last Updated:November 23, 2024, 5:53 PM IST For a Rs 10 lakh income, the new tax regime saves Rs 25,900 in taxes. However, the old regime benefits more if deductions are maximised Taxpayers should make the right choice based on their income, expenses and investment plans. (Representative/Shutterstock) In the budget for the financial year 2024-25,…