KMEW receives approval for tonnage tax scheme transition The approval is set for a 10-year duration, commencing from the Assessment Year (A.Y.) 2026-27.

Knowledge Marine & Engineering Works (KMEW) announced on December 23 that it has received formal approval from the Joint Commissioner of Income Tax, Mumbai, to transition to the Tonnage Tax Scheme under Section 115VP (3) of the Income Tax Act.

#KMEW #Shipping #ports #tax #IncomeTaxAct #Mumbai

Types of Income Tax return as per new Income Tax Bill 2025.

There are no such big changes Itr-1 to Itr-7 as applicable in the previous income tax Act 1961 as it is carried forward to the new Income Tax bill 2025.

#newincometaxbill #IncomeTaxBill2025 #incometaxact #incometaxreturn #dekhoaccountant

The new Income Tax Act 2025, adopted on August 21, 2025, takes effect April 1, 2026.

EZTax organized the act by chapters, sections, and schedules for easy searching.

more at eztax.in/income-tax-a...

#incometaxportal #EZTax #IncomeTaxAct

Govt notifies Income-tax Act 2025, law to come into effect from April 1, 2026 New Delhi, Aug 22 (SocialNews.XYZ) The government has officially notified the Income-tax Act, 2025, which consolidates and amends the existing income tax law, replacing the over six-decade-old Income Tax Act, 1961. The Act received the President’s assent on August 21, according to a gazette notification issued by the Ministry of Law and Justice. The new simplified Act, which will come into effect from April 1, 2026, does not impose any new tax rate and only simplifies the language, making it easier to understand the Income Tax laws.

Govt notifies Income-tax Act 2025, law to come into effect from April 1, 2026 #Govt #IncometaxAct #April #socialnewsxyz

Relaxation of Time Limit for Processing of valid returns of Income Tax Act 1961.

#ITRprocessing #incometaxact #incometaxreturn #ValidReturn #Klath05 #Klath24 #dekhoaccountant #Klathconsultancy #klathconsultancyprivatelimited

New simpler Income Tax Bill slashes volume of Income Tax Act, 1961 by half New Delhi, Feb 13 (SocialNews.XYZ) The Income-Tax Bill, 2025 tabled in Parliament on Thursday, marks a significant step toward simplifying the language and structure of the Income-tax Act, 1961 based on global best practices, according to a statement issued by the Finance Ministry. The review has led to a substantial reduction in the Act's volume, making it more streamlined and navigable.

New simpler Income Tax Bill slashes volume of Income Tax Act, 1961 by half #New #IncomeTax #IncomeTaxAct #socialnewsxyz

Govt creating new Income Tax Act for tech-driven taxpayers, scrapping convoluted older law New Delhi, Feb 3 (SocialNews.XYZ) After providing a big relief to the Indian middle class in the Union Budget 2025-26, the government is all set to present a new Income Tax Bill this week which would further simplify the entire tax system, bringing sweeping reforms. The current Income Tax Act was enforced in the country in 1961 and now, the new Income Tax Act is being made according to the needs of the 21st century to replace the existing law, according to sources close to the development.

Govt creating new Income Tax Act for tech-driven taxpayers, scrapping convoluted older law #Govt #IncomeTaxAct #socialnewsxyz

Sale deed cannot certify the agricultural nature of the land: Delhi HC - Yes Punjab News The Delhi High Court has said that a sale deed cannot certify the agricultural nature of the land since it is not a document issued by the revenue authorities or any government authority.

Sale deed cannot certify the agricultural nature of the land: Delhi HC yespunjab.com?p=58965

#DelhiHighCourt #SaleDeed #AgriculturalLand #CapitalGainsTax #IncomeTaxAct #Section263 #IncomeTaxAppellateTribunal #TehsildarCertificate #Taxation