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Income Tax : Union Budget 2025-26 offers tax relief for individuals, senior citizens, and small businesses while simplifying compliance and pro...
Income Tax : Know how rebate under Section 87A and short-term capital gains u/s 111A apply under the new tax regime for FY 2024-25, with exampl...
Income Tax : As the new financial year begins, individual taxpayers must take note of several important amendments in the Income Tax Act that c...
Income Tax : Understand Form 29B and 29C under Sections 115JB & 115JC for MAT and AMT audits. Know applicability, filing, and compliance requir...
Income Tax : Understand tax benefits under Sections 80GGB & 80GGC for political donations, eligibility rules, compliance needs, and recent lega...
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 Ahmedabad overturns CIT(E)'s rejection of Indian Red Cross's 80G approval, citing ignored submissions and directs fresh adjud...
Income Tax : ITAT Raipur quashes Sec 147 reassessment in ITO Vs Bishambhar Dayal Agrawal. Held reopening based on change of opinion, not new ma...
Income Tax : The petitioner contends that the 1st respondent lacked jurisdiction to issue notice, as the 1st respondent is not the Assessing Of...
Income Tax : ITAT Pune held that satisfaction note is required to be recorded u/s.153C for each assessment year, thus, recording of consolidate...
Income Tax : ITAT Jaipur held that addition towards undisclosed income rightly sustained since assessee failed to explain the incriminating mat...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
ITAT Mumbai held that addition merely on the basis of seized paper which is neither signed nor dated, without any corroborative evidence, is untenable in law.
ITAT Delhi held that the centralised services fee received by the assessee cannot be treated as FTS under Article 12 of the India-Singapore tax treaty, hence not taxable in India.
Sidhi Vinayak Enterprises Vs State of Jharkhand (Jharkhand high court) It appears that pursuant to the search conducted by the respondents in the premises of the petitioner-company under Section 67 of the JGST Act two summary of show cause notice in Form DRC-01 were issued, one for the period from 01.07.2017 to 13.8.2018 and another […]
Section 80G of Income Tax Act 1961 allows individuals and organizations to claim deduction on donation to certain specified fund or trusts registered under section 80G.
Section 12AA of the Act deals with the provisions that are applicable to the registration of a trust or institution under the Act.
Delve into the comparison between the old and new income tax regimes in India. Explore the impact on deductions, exemptions, and overall tax liability.
Explore Budget 2023 amendments to Charitable Trust & Institutions provisions. Understand changes in corpus handling, loan repayments, and registration processes effective from April 1, 2023.
ITAT Ahmedabad held that the disallowances made under section 14A read with rule 8D cannot be the subject matter of disallowances while determining the net profit u/s 115JB of the Income Tax Act.
Understand the differences between old and new income tax regime and decide which taxation scheme suits you best with our guide. Old Vs New Income Tax Regime – Which is beneficial to me
Higher rate of tax was prescribed in section 115BBE through an amendment made vide Taxation Laws (Second Amendment) Act, 2016 and the said amendment received assent of the President of India on 15.12.2016 and therefore the amendment shall apply prospectively w.e.f. 15.12.2016 and not retrospectively.
