ITAT Mumbai: Valid 12AA registration bars AO from denying Sec 11 exemption by re-examining charitable objectives. Key ruling explained.
ITAT Pune remands Nirmal Foundation’s 12A registration case, imposing ₹2,500 cost for non-compliance. Case sent back to CIT(E) for final opportunity.
Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were invalid. The allegations were based on retracted statements and lacked concrete evidence. The Tribunal quashed the cancellation and restored the trust’s registration.
CBDT Circular No. 03/2025-Income Tax on Salary TDS : New Rates, Exemptions, and Compliance for 2024-25 Summary: The CBDT has introduced significant updates to income tax deductions on salaries under Section 192 for FY 2024-25. Key changes include revised surcharge rates under the old tax regime, updated tax slabs for the new regime, and expanded […]
The new Income Tax Bill consolidates provisions for non-profits, covering registration, taxation, compliance, and capital gains rules. Key changes take effect from 2026.
Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and challenges during implementation.
Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and efficiency in tax compliance.
Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, and revenue interests.
The Finance Bill 2025 proposes multi-year ALP determination to reduce compliance burdens in transfer pricing. Learn about its framework and proposed changes.
Learn about Form 12BAA, introduced for employers to credit TCS for employees, ensuring accurate TDS calculation and easing tax compliance.
