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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
ITAT Mumbai held that transfer pricing adjustment on account of guarantee commission income is unsustainable in terms of India-Germany DTAA.
ITAT Delhi held that amount received from the supply of software and automated services are not taxable in India.
ITAT Chennai held that disallowed the claim of loss on account of written off inventory as the assessee failed to produce necessary evidence proving that such stock became obsolete and unusable.
ITAT Delhi held that as common area maintenance (CAM) charges are for maintenance of common area the same is covered by the provisions of section 194C of the Income Tax Act Accordingly TDS is deductible u/s 194C in case of CAM charges payment.
ITAT Raipur held that addition u/s 68 as unexplained cash credit unsustainable as AO has not rejected the books of accounts Accordingly it can be concluded that by accepting the books of accounts AO has also accepted the cash deposits to have been sourced out of duly disclosed source.
Section 54 gives relief to a taxpayer from the Capital gain arising on the sale of his residential house and from the sale proceeds he acquires another residential house.
In this Article CA Vivek Jalan discussed about the matter of Form 67 is directory and not mandatory to claim foreign tax credit
Clearing the understanding of term contracting states mentioned under DTAA between two countries with an interesting example. Learn what a contracting state is, and how it helps to avoid double taxation in two countries.
Payments towards professional and technical services may carry TDS provisions as covered under section 194J of the Income Tax Act. Learn what Professional Services, Fees for Technical Services, Royalty, and Non-compete Fees mean under Section 194J.
ITAT Chandigarh held that AO erred in applying the rate of tax as 30% under section 115BBE instead of amended rate of tax 60% Accordingly revisionary power under section 263 rightly applied as order passed was erroneous and prejudicial to the interest of revenue.
