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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...
The government of India has extended the deadline for submitting the Annual Income Tax Return (ITR) for Fiscal Year 2020-21 for India citizens from the previous period of September 30, 2021 to December 31, 2021. The extension applies to those whose accounts do not require an audit and who usually file a tax return. income […]
Learn about the tax treatment of converting self-acquired property to joint family property under the IT Act. Understand the implications and obligations.
Article discusses Provisions applicable in respect of Life insurance health insurance premium, Provision for deductions for home loan, Different holding periods for qualifying as long term capital asset and for indexation and Provisions of capital gains on listed shares. There are certain provisions under the income tax laws which generally go unnoticed and have huge […]
The Calcutta High court in this case was considering the writ petition where the petitioner contended that the assessment was made in disregard of the violation of natural justice as the password for the Video Conferencing was not provided and relevant evidence was produced.
National Building Construction Corporation Ltd. Vs Add. CIT (ITAT Delhi) In the instant case before us also, the expenses have been incurred on the direction of the relevant Ministry / Government of India. Further, neither the Assessing Officer nor the learned DR has rebutted the contention of the assessee that expenses have been incurred for […]
HEC India LLP Vs Commissioner of GST and Central Excise Audit-II (Madras High Court) GST Authority needs to communicate reasons for blocking ITC of the taxpayer Hon’ble Madras High Court has held that the GST Authority necessarily needs to communicate reasons to the taxpayer if the taxpayer’s Input Tax Credit (ITC) is blocked. In the […]
Bajrang Tea Manufacturing Company Private Limited Vs Union of India (Calcutta High Court) I am of the view that a very short issue, according to me, involved in these writ petition is as to whether before passing the aforesaid impugned assessment orders, the objections/representations made by the petitioners against the initiation of impugned proceedings under […]
Haresh C Sheth Vs ITO (ITAT Mumbai) There were justifiable reasons for the assessee in not filing the TRC in the course of the assessment proceedings. But then, we cannot also remain oblivious of the fact that the A.O had declined to apply the special rate of tax as per the DTAA, for the reason, […]
Ikea Services India Pvt. Ltd. Vs ACIT (ITAT Delhi) The TPO has not accepted the decision of the Hon’ble Jurisdictional High Court of Delhi in the case of Li & Fund [supra] solely on the ground that an appeal has been recommended before the Hon’ble Apex Court. In our considered view, when the operation of […]
TV Today Network Ltd. Vs Addl. CIT(A) (ITAT Delhi) Hon’ble Apex Court in case of Exide Industries (Supra) held that the claim with regard to leave encashment has to be allowed on cash basis i.e. actual payment basis and not on accrual basis. It is pertinent to note that the payments with regards to the […]
