ITR filing: The Income Tax Department has provided a significant update by allowing taxpayers who qualify for the section 87A tax rebate for the financial year 2023-24 to claim it now. In a notification issued on December 31, 2024, the tax department stated that eligible taxpayers will soon be able to submit a revised or … Read more
The Bombay High Court has instructed the Central Board of Direct Taxes (CBDT) to issue a notification extending the deadline for revised and belated Income Tax Return (ITR) filings until January 15, 2025. This extension applies only to taxpayers eligible for claiming the section 87A tax rebate. This is in response to a Public Interest … Read more
The petitioner submitted that the Reserve Bank of India cannot withdraw from circulation or discontinue banknotes and only the Central Government is vested with such powers. File | Photo Credit: PTI The Reserve Bank of India (RBI) cannot withdraw from circulation or discontinue banknotes and only the Central Government is vested with such powers, the … Read more
The Gujarat High Court on Sunday initiated a suo motu PIL over the coronavirus situation in the state, observing that media reports on the pandemic indicate that the state was heading towards a “health emergency of sorts”. Through an oral order, Chief Justice Vikram Nath directed the high court registry to register a fresh suo … Read more