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Income Tax : Explore the Principal Purpose Test (PPT) in international tax law, its impact on treaty benefits, legal uncertainty, and potential...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Income tax updates effective 1st April 2025 include higher TDS thresholds, extended startup benefits, increased rebates, and simpl...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find ...
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 : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : Madras High Court held that post settlement of disputed under Chapter XIX-A of the Income Tax Act, the continuance of the proceedi...
Income Tax : ITAT Mumbai held that change of method of accounting from mercantile to cash system for recording interest income on loan due to f...
Income Tax : ITAT Pune directs CPC, Bangalore to allow foreign tax credit despite late filing of Form 67, ruling it as a procedural requirement...
Income Tax : Summit Aviation Private Limited obtained financial assistance from respondent no.3, Punjab National Bank, for the purchase of heli...
Income Tax : ITAT Ahmedabad dismisses appeals by GE Power India ex-staff, backing PCIT's order for fresh assessment due to wrongly claimed tax ...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
ITAT Chennai held that donations paid by conversion of loans into donations comes under the nature of donations paid in cash and hence entitled for deduction under section 80G of the Income Tax Act.
ITAT Mumbai held that addition on account of difference in stock as per books and valuation report merely on the basis of statement recorded during survey without credible evidence is unsustainable in law.
ITAT Chennai held that profit or loss derived from sale of land held as stock-in-trade is assessable under the head income from business or profession and not under capital gains.
ITAT Delhi held that social security contribution doesnt constitute income from salary in the hands of expatriate employees. Hence disallowance u/s 40(ia) for non-deduction of TDS on the same is unsustainable in law.
ITAT Pune held that interest paid on customs duty is allowable as deduction under section 43B of the Income Tax Act 1961.
Revenue Department had neither sought any new information nor made a reference to new material on record. Held that, a change in opinion that does not satisfy the jurisdictional foundation under Section 147 of the IT Act.
Non-Resident Indians (NRIs) always scout for options to invest their foreign exchange earnings. Regulations and taxation have made purchasing or selling immovable property in India easier. Learn about the rules and implications of NRI investments in real estate.
Learn all about Section 9B and 45(4) of the Income Tax Act, 1961. Budget 2021 has changed tax rules for firms during dissolution and reconstitution. Get all info here
High-Risk CRIUNRU PAN Case and High-Risk CRIUNRU Non-PAN Cases – Dissemination of Cases on the ‘Verification’ module of Insight portal (RMS Cycle-2)
Dissemination of Cases on ‘Verification’ module of Insight portal for Assessment, Investigation and TDS wings as per Risk Management Strategy (Cycle-2) of CBDT
