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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...
This is my 1st article and I covered very interesting topic ‘Old Vs New Tax regime‘ because after becoming Chartered accountant my relatives and friends ask which tax regime they should choose. Here we covered the following points – 1. Applicability 2. Tax Rate Structure 3. Exemptions & Deductions 4. Other Points 1. Applicability :- […]
Case Analysis on Cairn v. India: International Commercial Arbitration with special reference to United Kingdom-India Bilateral Investment Treaty Background On January 20th 2012, the Supreme Court of India gave its verdict in the Vodafone case. The case was regarding tax invasion in regards to capital gains in lieu of sale of shares. The court held […]
The Central Government introduced the Faceless Assessment Scheme to provide greater transparency, efficiency and accountability in Income Tax assessments. All provisions introduced under Faceless Assessment, under the Income Tax Act, 1961, are introduced to- (a) Eliminate the interface between the Assessing Officer and the assessee during the course of proceedings, to the extent that is […]
ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. (Supreme Court) Assessment order or an intimation u/s 143(1) of the Income tax Act , 1961 as it stood prior to amendment wef 1.4.1989 and thereafter and further amendments made . A broad analysis has been extracted from the judgement of the Hon’ble Supreme Court of India […]
Tax compliance season for Income Tax Return filing of A.Y. 2021-22 is on the way and thus, it is pertinent to note key amendments made in the Finance Act, 2021 which are applicable with effect from Assessment Year 2021-22. We have discussed some key amendments introduced in the Finance Act, 2021 in this article; which […]
Messrs Mehta Parikh & Co vs The Commissioner Of Income-Tax, Bombay (Supreme Court of India), Date Of Judgment: 10/05/1956, Equivalent citations: 1956 AIR 554, 1956 SCR 626 Bench: Natwarlal H. Bhagwati | Sudhi Ranjan Das (CJ) | T.L. Venkatarama Aiyyar Income-tax-Income from undisclosed sources-Assessment. Assessee’s explanation based on accounts supported by affidavits Accounts accepted as […]
The concept of TDS was introduced with an aim to collect tax from the very source of income. Currently there are 36 provisions in the Income Tax Act which require TDS deductions from various payments. There is a recent insertion of section 194Q vide Finance Act 2021. With introduction of Section 194P and 194Q, there […]
Cash Deposit Out of Cash Sales treated as Undisclosed Income Under Section 68 & 69A of Income Tax Act, 1961 On the night of 8th November 2016 the honorable Prime Minister of India announced that Rs. 500.00 and Rs. 1000.00 notes will no longer be legal tender. No fresh transaction could be done using these […]
The Tribunal has jurisdiction to examine a question of law which arises from the facts as found by the authorities below .and having a bearing on the tax liability of the assessee . Where the tribunal is only required to consider a question of law arising from the facts ,we fail to see why such […]
SECTION 115BAC – CONCESSIONAL TAX SLAB RATES APPLICABLE W.E.F. AY 2021-22 As per section 115BAC, individuals or HUFs have an option to pay tax in respect of their total income (other than income chargeable to tax at special rates under Chapter XII such as section 111A, 112, 112A, 115BB etc.) at the following concessional rates, […]
