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Income Tax : CBDT Notification 36/2025 requires sellers to collect TCS on luxury goods like watches, art over ₹10 lakh from April 22, 2025. L...
Income Tax : Your ITR refund for FY 2024-25 may be delayed due to pending tax issues. Learn why and how to handle notices from the Income Tax D...
Income Tax : Learn about the revised Section 44ADA, eligibility, new ₹75L threshold, benefits, and compliance rules for professionals under p...
Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...
Income Tax : Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F cla...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Bangalore rules Section 115JB (MAT) not applicable to Canara Bank (erstwhile Syndicate Bank), citing prior judicial precedent...
Income Tax : Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or ...
Income Tax : ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards capital contribution deleted since assessee furnished adeq...
Income Tax : The case of assessee was selected through compulsory manual Statutory notices u/s 143(2) was issued on 21.09.2017. Further, notice...
Income Tax : ITAT Ahmedabad held that addition under section 68 of the Income Tax Act unsustainable since revenue/ department failed to establi...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Income Tax : CBDT notifies HUDCO’s 10-Year Zero Coupon Bond worth ₹5,000 Cr under Section 2(48) of Income-tax Act for infrastructure projec...
Income Tax : CBDT approves KIMS Foundation, Hyderabad for scientific research under Section 35 of Income-tax Act, effective FY 2025–26 to AY ...
Commissioner of Income Tax (TDS) Vs Oil And Natural Gas Corporation Ltd. (Gujarat High Court) It is observed that the uniform given to an employee for using the same during his duty hours is presumed to be used for the purpose of employment only. When there was a circular of CBDT enabling the assessee for […]
CBDT notifies Canada, United Kingdom of Great Britain, Northern Ireland and United States of America under section 89A of the Income-tax Act, 1961 vide Notification No. 25/2022- Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 25/2022- Income Tax New Delhi, the 4th April, 2022 S.O. 1568(E).—In […]
CBDT notifies Income Tax Rule 21AAA. Taxation of income from retirement benefit account maintained in a notified country and FORM No. 10-EE vide Notification No. 24/2022-Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 4th April, 2022 Notification No. 24/2022-Income Tax G.S.R. 256(E).— In exercise of […]
Whether the shares which came to be registered in the names of Purchaser in statutory records of the Company did not represented transfer of shares by the Seller in terms of Sec. 2(47) of the I. T. Act.
The Mumbai Tribunal has allowed relief to BCCI and directed CIT to grant registration under Section 12A citing that BCCI is still promoting the game of cricket.
Mangala A.G. Vs Union of India (Kerala High Court) Territorial jurisdiction of a Court in case of WFH would be where the official place of work was located and not the place of residence Conclusion: When a person was permitted to work from home merely as a concession or a convenience, place from where the […]
With April 1, begins the New Financial Year, Time to Move on with, ‘Sweet n Sour’ Learnings from Rear. Can’t Stop My Pen from Reminiscing, Of All what has happened with Assessments Completion-Time Nearing.
ITAT Mumbai rules in Anjan Shivraju Prakash vs. ITO case. Dispute over long-term capital gain on sale of car parking spaces. Details on judgment and impact.
Mohit Singh L/H of Late Shri Balwant Singh Vs JCIT (ITAT Delhi) As pointed out on behalf of the assessee, an assessment under Section 143(3) r.w. Section 147 was completed in the instant case, wherein the Assessing Officer has not observed any repayment of loan in cash as alleged in the penalty order. On perusal […]
Udesh Sharma Vs ITO (ITAT Delhi) Admittedly in this case, the AO while recording reasons for selection of the case on the basis of AIR information observed that the Assessee has deposited cash of Rs. 44,00,500/- in his S.B. Account during the F.Y. 2008-09 and therefore issued a verification letter dated 30.10.2015 to the Assessee […]
