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Income Tax : In this article author analyses main changes made in Finance Bill 2025 as passed by Lok Sabha, along with it’s analysis....
Income Tax : Discover the highlights of the Form 3CD amendments effective April 1, 2025, including new clauses for cruise ships and MSMEs....
Income Tax : Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in V...
Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
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 : ITAT Mumbai sends Anjuman E Farogh E Islam Trust's appeal back to CIT(A) for fresh hearing, citing insufficient opportunity to pr...
Income Tax : ITAT Delhi orders deletion of ₹26.35 lakh addition on cash deposits during demonetization but upholds ₹7.52 lakh addition for ...
Income Tax : Orissa HC upholds faceless assessment, ruling that notice sequence under Sections 142(1) & 143(2) is immaterial. Petition dismisse...
Income Tax : ITAT Raipur rules that rejection of 80G registration for Bhagwan Mahaveer Jain Relief Trust without a show-cause notice violates n...
Income Tax : No Section 56(2)(x) addition for reduction in agreement value due to increase in Goods and Services Tax (GST) rates effective from...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
ITAT Pune held that expenditure incurred on repairs and renovation of the asset is revenue expenditure as no new asset has been created.
Income Tax Department carries out survey operations in Delhi & Mumbai A survey action under section 133A of the Income- tax Act, 1961 (the Act) was carried out at the business premises of group entities of a prominent international Media Company at Delhi and Mumbai. The group is engaged in the business of development of […]
Amendment in Budget 2023 of Income Tax Act Section 43B aims to strengthen working capital for small businesses. Benefits & implications of changes in deductions for delayed payments.
HC held that, pay roll related services outsourced to foreign company would be treated as business income earned by foreign company and not a technical service therefore, would not be liable for TDS
If there is no valid service of notice under section 148, the reassessment proceedings are null and void. service of notice under section 148 is a condition precedent for making reassessment or re-computation under section 147 of the Act.
Analyze Section 9A of the Income Tax Act, 1961. Understand the activities that do not constitute business connection in India & its impact on foreign parties. Learn how the Section provides relief to non-residents who derive income in India and avoiding double taxation.
The Income Tax Act 1961 is the legal framework governing taxation related matters in India. According to section 9 of the Income Tax Act, any income received by a taxpayer, either in cash or in kind, that is deemed to accrue or arise in India shall be liable to tax.
ITAT Bangalore held that donation to veda pathashalas, veda pundits, medical assistance etc demonstrates the charitable activities carried on by the Trust. Accordingly, registration u/s 12A as charitable trust and approval u/s 80G granted.
ITAT Mumbai held that initiated revision jurisdiction under section 263 of the Income Tax Act on mere conjectures, suspicions and surmises, is not permissible in law.
Rajendra Bana Vs ITO (Rajasthan High Court) Shri Vedant Agarwal, learned counsel representing the petitioner drew the Court’s attention to the order dated 11.10.2022 passed by Division Bench of this Court at Jaipur in D.B. Civil Writ Petition No.14794/2022 and urged that the impugned notice whereby, the re-assessment proceedings have been opened against the petitioner, […]
