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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...
Annual Information Statement (AIS) – Receipts from transfer of immovable property AIS is the abbreviation form of ‘Annual Information Statement’ which is recently rolled out by the Income Tax Department. Along with ‘Annual Information Statement’, the department also came up with the ‘Taxpayers Information Summary’ i.e., TIS. Notably, if the information reflected in the ‘Annual […]
Abhimanyu Sharma Vs ITO (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) of the Act and therefore, the legal proposition laid down in aforesaid […]
An associate enterprise itself would not to be taken as a comparable since lacking the independent nature of an uncontrolled transaction in forming hallmark of Chapter X of the Act. We thus delete the impugned arms length price adjustment on receivables for this precise reason alone.
Tax Bar Association, Bhilwara has made a representation for extension of due dates of Income tax Returns (ITRs) And Tax Audit Report For A.Y. 2021-2022 and also highlighted various burning issues/Harship being faced by stakeholders for compliance in respect to furnishing Income Tax Return And Audit Report For A.Y. 2021-2022. Representation is been made to […]
Jai Enterprises Vs DCIT (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) of the Act. Further, the ld D/R has referred to the explanation […]
Star Facilities Management Limited VS ITO (ITAT Delhi) he only question to be decided in the grounds raised by the assessee is regarding the allowability of employees’ contribution to PF and ESI if deposited after the due date prescribed under the relevant Act, but, before the due date of filing of return of income u/s […]
Pachouli Wellness Clinic LLP Vs ITO (ITAT Delhi) It is not in dispute that the payments on account of PF/ ESI were made by the assessees after due date prescribed under the respective acts, but before due date of filing of return under the I.T. Act. The Ld. Sr. DR has also not contradicted the […]
Annual Information Statement (AIS) – Payment to non-resident sportsmen or sports association under section 115BBA The new Annual Information Statement comprises 50 different information categories. The present article deals with one such information category, namely, ‘Payment to non-resident sportsmen or sports association u/s 115BBA’. Understanding relevant taxing provision covered under section 115BBA and TDS provision […]
पिछले दिनों वित्त मंत्री द्वारा बजट पूर्व सुझावों हेतु कई बड़े व्यापारिक, उद्योगिक एवं अर्थशास्त्रियों के साथ मीटिंग और विचार विमर्श किया गया जिसमें कुछ मुख्य सुझाव जो सामने आए: 1. आम टैक्सपेयर्स के लिये इनकम टैक्स स्लैब को तर्कसंगत करने का सुझाव दिया गया. 2. रिसर्च एंड डेवलपमेंट के लिये ज्यादा बजट का आवंटन […]
Since the issue of benchmarking the international transaction is required to be examined qua both the segments i.e. CSDS and ITES separately and independently for factual analysis of taxpayer’s TP study, the case is remanded back to ld. TPO who shall determine the ALP of international transactions of both the segments independently afresh after providing an opportunity of being heard to the parties.
