Good news is on the horizon for businesses and taxpayers in India. The Central Board of Indirect Taxes and Customs (CBIC) is working on a plan to make GST return filing simpler while also reducing unnecessary tax disputes. By introducing a monetary threshold for issuing demand notices, CBIC aims to bring relief to businesses that […]
Optional Tax Regime U/s. 115BAC: Exemptions & Deductions Not Allowed
Introduction Have you ever felt confused by the endless list of exemptions and deductions in your income tax return? You’re not alone. For decades, India’s tax system has relied on a maze of tax-saving options—from 80C investments to HRA claims—that often left taxpayers puzzled. To simplify this, the government introduced Income Tax Section 115BAC, popularly […]