Taxes

The Children Education Allowance (CEA) is a monetary benefit that the central government offers it employees on a monthly basis to cover the school education costs of up to two children in a family.

As the July 31 filing deadline approaches, here are some of the notable changes you may encounter when submitting your tax returns this year.

To claim benefits under Section 80GGC, taxpayers must now clearly mention the political party involved and submit its PAN information.

Inherited or gifted shares are not taxed immediately, but tax applies when they are sold. If the person does not know the acquisition details, there is a threshold date to determine the gains.

Taxpayers will continue to file their ITR for FY26 under the current rules. The new IT Act 2025, effective April 1, will apply to returns filed in June 2027.

Oracle has about 30,000 employees in India, which includes about 12,000 people who have been affected by the recent layoffs.

The chatbot will be available round-the-clock and aims to reduce dependency on tax officials by offering instant, automated support.

Taxpayers with inactive PANs are facing real consequences: blocked tax refunds, higher TDS deductions and restrictions on financial transactions.

Everything you need to know about the 10 major financial updates that can significantly affect your wallet from Apr. 1, 2026.

With the March 31 deadline fast approaching, taxpayers must complete a range of income tax and GST submissions. 

Timely compliance not only helps avoid the burden of double taxation but also ensures that eligible relief is not forfeited.

Form 130 serves as proof that tax has been deducted from salary income and deposited with the government.

The proposed amendments aim to expand the powers of the tax department to reopen assessment cases based on orders passed by courts and appellate tribunals.

Under the Income Tax Act, 2025, some of the exemptions and deductions under the old tax regime have become more attractive.

The change marks a shift in how tax rules are structured and presented, while keeping the core system largely the same.

These rules support the new Income‑tax Act, 2025, which comes into force for the financial year 2026‑27.

The I-T Rules 2026 are under the provisions of the Income-Tax Act, 2025. The notification has been issued in exercise of the powers conferred under section 533 of the Act.

Among the proposed changes are broader HRA exemptions for cities such as Bengaluru and Hyderabad, which may help reduce overall tax liability.

This accessibility to reliable data acts as a foundation to simplify tax processes in India.

Advance tax is designed to distribute the tax burden evenly and ensure a regular flow of revenue to the government.