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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...
Petitioner states that impugned order and consequential notices of demand and penalty raising a demand of income tax amounting to Rs. 48 crores are in complete contravention of the order passed by NCLT
Learn about Section-194R and the deduction of tax on benefits or perquisites in respect of business or profession. Understand the provisions, applicability, and key issues related to this section.
Corrigendum Notification No. 77/2022-Income Tax, Dated: 01.06.2022 to amend Notification No. 73/2022- Income Tax | Dated: 30th June, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 1st July, 2022 Notification No. 77/2022-Income Tax G.S.R. 505(E).––In the notification of the Government of India, Ministry of Finance, Department of Revenue […]
Understanding the significance of gifting in Canada: explore the benefits and income tax implications of charitable donations.
Dive into the ITAT Delhi judgment on ACIT vs. Voith Paper Fabrics, addressing the treatment of technical know-how fees as revenue or capital expenditure.
Explore Mahaveer Prasad Agarwal vs. DCIT case at ITAT Jaipur, analyzing discretionary penalties under sections 271AAB and 271 of the Income Tax Act.
Understanding the implementation of Section 194R TDS on benefit or perquisite. Learn about the legal provisions and tax rates effective from July 2022.
In a significant decision, ITAT Jaipur, in Suman Solanki vs DCIT case, rules that timely deposited PF/ESI contributions before return filing are admissible deductions. Explore the detailed analysis.
New TDS Provisions (Section 194R and section 194S of Income-tax Act, 1961) are applicable from 01.07.2022.and inserted vide Finance Act 2022.
Held that as the assessee is in windmill’s power generation business, additional depreciation available for windmill u/s 32(1)(iia).
