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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...
Explore the ITAT Bangalore ruling in ACIT vs. Davangere District Central Co-operative Bank Ltd regarding the deletion of interest addition on non-performing assets (NPA).
Explore the ITAT Ahmedabad decision in Texmat Agencies Pvt. Ltd. vs. ITO regarding the upheld penalty for the assessee bogus short-term capital loss claim.
Explore the details of the ITAT Chennai decision in Indian Overseas Bank vs. JCIT, quashing the reassessment on interest income and addressing the deduction under section 80M.
Dive into Smt. Rani appeal against the addition of Rs. 611,000 as unexplained cash deposit. Detailed analysis of the ITAT Amritsar order and its implications.
The Finance Act, 2022 had inserted a new section 194R to the Income Tax Act, 1961 providing for deduction of tax at source (TDS) @ 10% on the benefit or perquisite paid to a resident businessman or professional arising from its business or profession, and the provision of this section is applicable from 1st July, 2022.
ITAT held that if the amounts advanced are for business transactions between the parties, such payment would not fall within the deeming dividend under Section 2(22)(e) of the Act.
Explore the ITAT Chennai resolution in the SDS Ramcides Crop Science case regarding the disallowed depreciation claim. Learn how the tribunal rectified the misinterpretation and allowed the rightful depreciation.
Explore the ITAT Visakhapatnam’s resolution in the case of Smt. Sabhapathi Padmasree vs. ITO regarding deemed dividends. Learn how collateral security provided by the assessee impacted the tax treatment of loans and advances under section 2(22)(e).
Explore the ITAT Chennai resolution in the case of Shri Krishnapandian Balaji vs. DCIT regarding unexplained cash deposits during demonetization. Learn how the assessee justified the source as rental income.
Explore the ITAT Mumbai decision in Swati Jignesh Jain vs. ITO regarding the imposition of penalty u/s. 271(1)(b). Learn how the AO deemed condonation of the assessee absence influenced the verdict.
