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Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
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 : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....
Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....
Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....
Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...
Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
गुजरात हाईकोर्ट की फटकार के बाद आयकर विभाग की निर्णायक संस्था सीबीडीटी ने एफिडेविट सबमिट कर आश्वासन दिया कि करदाता की जो भी पोर्टल संबंधित समस्या है, उसका तुरंत निराकरण किया जावेगा. इस हेतु सीबीडीटी ने सरकार की तरफ से ईमेल आईडी भी कोर्ट के सामने रखे, जिस पर करदाता शिकायत कर सकता है और […]
Oracle Financial Services Software Limited Vs DCIT (Bombay High Court) Existence of the reason to believe that income chargeable to tax has escaped assessment is a jurisdictional condition for invoking the power under section 147 of the Act, 1961, both within and beyond a period of four years from the end of relevant assessment year. […]
Hindustan Petroleum Corporation Ltd. Vs Union of India (Bombay High Court) The Respondents filed Central Excise Writ Petition No. 60 of 2018 against the Petitioner and was pending before this Court. On 27/12/2019, the Petitioner opted for settling the said SVLDR scheme by filing necessary SVLDRS-1 declaration. The said application however was rejected on the […]
We hold that there is no question of treating the amount withdrawn by the assessee as partner from the partnership firm namely M/s SKA Enterprises in the nature of loan and advance and treat it as deemed dividend under section 2(22)(e) of the Income Tax Act. None of the ingredients of section 2(22)(e) stand satisfied in the instant case.
Office Order pursuant to CBDT Order No. 304 of 2021 dated 08.11.2021- In pursuance to the above and in exercise of the powers conferred by Explanation to sub-section (1) of section 120 of the Income-tax Act, 1961 as also section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), it is hereby ordered that the officers referred to in column (3) of the table hereunder, in the grade of Commissioners of Income-tax shall exercise the powers and perform the functions of the Income-tax Authority
EFFECTIVE TAX PLANNING TOOLS FOR LAST MINUTE RESORT FROM CAPITAL GAIN TAXES The financial year is coming to a close. Are you worried about the capital gain taxes on the income generated from Stock Market/Mutual Funds in the Bull Run? If so, it is important to plan your long-term capital gains in equities as they […]
The Supreme Court on Thursday said the daughters of a male Hindu dying without a will would be entitled to inherit self-acquired and other properties obtained in the partition by the father.
The Income-tax department requires companies to submit a statement of Specified Financial Transactions (SFT). SFT reporting is mandatory for certain reporting entities from Finance Act 2014 by introducing section 285BA followed by additions made in Finance Act 2020 through notification no. 16/2021, dated 12-03-2021. This article focuses on SFT reporting which is applicable to the companies and documents require for reporting such transactions.
Vide Notification No. 10/2022 – Income Tax | Dated: 21st January, 2022 CBDT notifies Tax Exemption to National Skill Development Corporation, a body constituted by Central Government, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 10/2022-Income […]
PCIT (Central) Vs Agson Global Pvt. Ltd. (Delhi High Court) 1. Dismissing a bunch of appeals against deletion of addition u/s 68 towards Share capital/ share premium, bogus purchases and deposit in bank account, the Hon’ble Delhi High Court vide judgment delivered on 19.01.2022 (yesterday) has held that where the ITAT decided the matter based […]
