The older tax regime offers considerable flexibility for taxpayers by enabling them to leverage available claims of exemptions and deductions fully.

Income Tax Audit Report Under Section 115JB Form 29B computing book profits for companies under Minimum Alternate Tax – MAT.

ITAT Surat held that interest paid in respect of business profit attributable to section 80P (2) of the Income Tax Act is allowable. Accordingly, AO directed to consider direct nexus of interest paid ...