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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 Kolkata held that interest subsidy received under the amended Rajasthan Investment Promotion Scheme, 2003 is capital receipt and hence the same is not chargeable to tax.
Arm’s Length Price of a transaction can be referred to as such price at which the business profits can be maximized commensurating with the functions performed, assets utilized and risk assumed in such transaction including the fundamental criterion of allocating business income/profits in different tax jurisdictions.
Understand TCS on Sale of Goods (Section 206C(1H)) with FAQs. Learn about rates, applicability, and key clarifications. Stay informed on Income Tax Act changes for better compliance.
Explore new income tax payment options Internet Banking, Debit Card, Pay at Bank Counter, RTGS, and Payment Gateway. No transaction charges for certain modes. Check available banks and make secure online payments hassle-free.
Gujarat High Court held that it is satisfied that provisional attachment is hindering the continuation of business of the petitioner, hence continuation of provisional attachment not necessary as the interest of revenue can be safeguarded by furnishing of a bank guarantee.
Understand the implications of unexplained investments and expenditures under sections 69 to 69C of the Income Tax Act, 1961, with a focus on the 84% tax rate. Ensure meticulous documentation to avoid deemed income and penalties.
Explore the nuances of Section 54 of the Income Tax Act, 1961, including amendments from the Finance Act, 2019. Learn how the provision allows claiming deductions for investing in residential houses, with insights into recent rulings clarifying the eligibility criteria.
Utilisation of capital gains within time specified would entitle assessee to claim deduction under section 54, notwithstanding fact that new asset was registered beyond period specified under section 54, which according to assessee was beyond her control and was to be liberally construed.
The Honble Supreme Court held that in the event of Slum Sale, the appellant would not be liable for any tax obligations before the date on which Agreement was executed as the appellant was neither a dealer nor a manufacturer before the date of execution of Agreement.
The Honble Supreme Court while decreasing the awarded compensation under Land Acquisition Act, held that the compensation determined on the basis of the Notification 5 years later, cannot be a yardstick for determining the compensation for the land which is acquired five years before and therefore, the claimants shall not be entitled to the same compensation as awarded with respect to the lands acquired after 5 years from the date of acquisition.
