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Income Tax : CBDT Notification 36/2025 requires sellers to collect TCS on luxury goods like watches, art over ₹10 lakh from April 22, 2025. L...
Income Tax : Your ITR refund for FY 2024-25 may be delayed due to pending tax issues. Learn why and how to handle notices from the Income Tax D...
Income Tax : Learn about the revised Section 44ADA, eligibility, new ₹75L threshold, benefits, and compliance rules for professionals under p...
Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...
Income Tax : Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F cla...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Bangalore rules Section 115JB (MAT) not applicable to Canara Bank (erstwhile Syndicate Bank), citing prior judicial precedent...
Income Tax : Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or ...
Income Tax : ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards capital contribution deleted since assessee furnished adeq...
Income Tax : The case of assessee was selected through compulsory manual Statutory notices u/s 143(2) was issued on 21.09.2017. Further, notice...
Income Tax : ITAT Ahmedabad held that addition under section 68 of the Income Tax Act unsustainable since revenue/ department failed to establi...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Income Tax : CBDT notifies HUDCO’s 10-Year Zero Coupon Bond worth ₹5,000 Cr under Section 2(48) of Income-tax Act for infrastructure projec...
Income Tax : CBDT approves KIMS Foundation, Hyderabad for scientific research under Section 35 of Income-tax Act, effective FY 2025–26 to AY ...
ITAT Mumbai held that addition under section 68 of the Income Tax Act on the basis of mis-reporting of insurance company is unsustainable in law.
Missed the ITR deadline No worries! Learn how to file your Income Tax Return for the last three years using ITR U form. Follow step-by-step instructions, gather documents, and avoid penalties.
Cost Inflation Index (CII) is an index used in India to measure the rate of inflation in the economy. It is used to adjust the purchase price of an asset, such as property or gold, for inflation when calculating capital gains tax.
Whether Duty drawback and DEPB received as an incentive for exports can be said to be derived from the business of industrial undertaking and thus eligible for the benefits of Section 80-IB of Income-tax Act, 1961?
Explore the impact of the Finance Act, 2023 on non-resident and not ordinarily resident individuals in India. Changes in tax deductions, deemed income, presumptive taxation, TDS rates, and more explained.
Generally, it is seen in the Tax Treaties and Model Tax Conventions that, the Article 5 Clause 7 provides for that an entity which is resident of contracting state who is controlled by another entity who is resident of other contracting state will not be considered as PE in other contracting state.
ITAT Cochin held that as assessee dutifully declared interest income of deceased wife’s deposit in his return, assessee is duly eligible to get credit of his deceased wife’s TDS.
Mansarovar Commercial Pvt. Ltd. Vs CIT (Supreme Court of India) Sub- What is the meaning of management and control for the purpose of determining residency of a company? Whether simply registered office of a company can be the criterion ? The Supreme Court in this case was considering interesting question as to taxability of alleged […]
Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham Vs CIT (Kerala High Court) Disposing an IT Appeal in M/s. Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham Vs. the Commissioner of Income Tax (I.T.A. NO.120 of 2019 dated: 14.03.2023) it is held by the Hon’ble High Court of Kerala that, a return filed by a […]
As of April 1, 2023, India has doubled tax rates for non-residents on Fees for Technical Services (FTS) and Royalty to 20%. Explore the impact, mandatory filings, and potential defenses against these changes.
