Learn about property tax in India, its purpose, calculation, exemptions, and how to pay online or offline. Understand key factors affecting tax rates.
Section 44ADA of Income Tax Act, 1961 offers a presumptive taxation scheme for professionals, simplifying tax compliance by allowing them to declare 50% of their gross receipts as income without maintaining detailed books of accounts.
Kerala High Court held that cash seized from the premises of the appellants cannot be retained by either the State GST Department or the Income Tax Department unless the respective proceedings initiated by them are finalized.
Bar Council of India supports govt’s decision to revise Advocates (Amendment) Bill, 2025, ensuring fair consultation and safeguarding legal profession’s autonomy.
Compare tax on ₹12 lakh income in FY 2024-25 and FY 2025-26. See new tax slabs, rebates, and savings introduced in Budget 2025 for individual taxpayers.
Section 115BBE imposes a high tax rate on unexplained income to prevent tax evasion. Learn about tax rates, penalties, and compliance strategies.
Budget 2025 introduces new income tax amendments, including changes in tax slabs, TDS limits, and rebates under sections 115BAC and 87A.
Joint Commissioner (Intelligence & Enforcement) Vs Lakshmi Mobile Accessories (Kerala High Court) Kerala High Court addressed the issue of consolidated show-cause notices under the CGST Act in the case Joint Commissioner (Intelligence & Enforcement) vs. Lakshmi Mobile Accessories. The case revolved around a notice issued to the respondent, covering six financial years (2017-18 to 2023-24), […]
M.M. Patel Charitable Trust Vs PCIT (Central) (ITAT Pune) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Pune has overturned the order of the Principal Commissioner of Income Tax (PCIT), which had canceled the registration of M.M. Patel Public Charitable Trust under Sections 12A and 12AB of the Income Tax Act, 1961. The […]
ITAT, by going through established precedents, held that AO had not recorded any dissatisfaction with assessee’s voluntary disallowance, nor had he provided any basis for invoking Rule 8D
