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Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
Stay informed about the Supreme Court of Indias recent decision unsettling the settled legal position on the mandatory or directory nature of submission requirements (Form 10B, Form 9, Form 10CCB, etc.) for claiming tax exemptions or deductions. Explore the impact of PCIT Vs Wipro Limiteds judgment, highlighting the need for strict compliance with exemption provisions. Learn about the principles of statutory interpretation and the evolving stance on filing audit reports for availing tax benefits.
Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information).
Explore the nuances of TDS under Section 194R and Section 194S of the Income Tax Act, 1961, introduced by the Finance Bill 2022. Uncover the implications and requirements for businesses and individuals, covering aspects such as deduction rates, applicable entities, and specific scenarios like benefits, perquisites, and virtual digital asset transfers. Stay informed about the proposed changes and potential challenges.
Abdul Majeed Vs ITO (Rajasthan High Court) High Court held that while passing an order under Section 148A of the Act, the authority is required to reach satisfaction to not only that income chargeable to tax has escaped assessment, but in case where three years have elapsed from the end of the relevant assessment year, […]
FTS does not include consideration `which would become income of the recipient chargeable under the head Salaries’.
Dive into the complexities of Income Tax Act seizures of gold jewelry and bullions in India. Explore the significance of gold, the authority granted under Section 132, and the relief available to taxpayers through CBDT circulars and judicial pronouncements. Stay informed about the regulations and procedures to navigate tax implications.
CBDT authorises the DGIT, Directors of Income-tax, Additional Directors of Income-tax, Joint Directors of Income-tax, Deputy Directors of Income-tax, Assistant Directors of Income-tax, Income Tax Officers and Inspectors of Income-tax working in the Directorate of Income-tax (Intelligence and Criminal Investigation) as Prescribed Authority for the purposes of e-Verification Scheme, 2021 Ministry of Finance (Department of […]
Understand the tax implications of selling shares, mutual funds, or bonds. Learn about capital gains tax and cost of acquisition for different types of securities.
Understand the tax implications of IPO listings. Learn how the taxability of newly listed shares is determined based on their holding period.
Understanding Section 194R of the Income Tax Act 1961. Is it double taxation or an entry for fringe benefit tax? Find out the implications for businesses.
