Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR utility should not prevent taxpayers from making valid claims, particularly rebate under Section 87A of Income Tax Act.
Get the latest GSTN advisories on e-way bills, ITC rectification, HSN codes, GSTR-2B, waiver schemes, and CBIC’s caution on fake summons. Stay updated on GST changes.
Bombay High Court rules that profit estimation in bogus purchases does not raise a substantial question of law, dismissing the Income Tax Department’s appeal.
Co-browsing helps taxpayers file ITR, change settings, and navigate the tax portal with real-time help from agents. Secure, free, and easy to use.
Contributory infringement is best understood as an indirect form of liability. Unlike direct infringement—which requires a party to have engaged in the infringing act itself—contributory infringement holds a party accountable for knowingly providing a component, service, or instrumentality that facilitates another’s infringement.
IFSCA’s consultation paper explores the regulation of tokenization for real-world assets, including securities, payments, and commodities in GIFT IFSC.
IFSCA seeks public feedback on securitization requirements for overseas insurers providing coverage to entities regulated in GIFT IFSC.
IFSCA updates Aircraft Lease Framework, modifying rules for transactions with Indian residents. New guidelines for asset acquisition by Lessors in IFSCs.
ITAT Hyderabad held that resorting to estimation of profit in case of best judgement assessment without rejection of books of accounts is unjustifiable. Accordingly, matter set aside to the file of the lower authorities for reconsideration of the issue.
This article provides an in-depth analysis of India’s tax brackets, key deductions, and recent amendments to income tax laws, helping individuals make informed financial decisions.
