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Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
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 : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...
Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
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...
Income Tax Department Vs Sri D K Shivakumar (Karnataka High Court) The gist of the offence under section 276C(1) is the wilfull attempt to evade any tax, penalty or interest chargeable or imposable or under reports of the income. What is made punishable is “attempt to evade tax, penalty or interest” and not the “actual […]
Office Order No.93 of 2021 dtd.05.04.2021[Extension of ad-hoc appointment to the grade of ACIT] F. No. A-32013/5/2018-Ad.VI (Part-2) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. The 05th April. 2021. Office Order No. 93 of 2021 In continuation of CBDT’s Office Order No. 43 dated […]
Delhi High Court in CIT vs. Aero Traders Pvt. Ltd. has held that no penalty u/s.271(1)(c) of the Act can be imposed when income is determined on estimate basis.
Devender Kaur Vs ITO (ITAT Jaipur) In the instant case also, the AO has failed to conduct any enquiry and bring any material or fact to establish that the assessee has initially acquired the property in question at the time of Power of Attorney dated 3.1.2008 and subsequently sold the same vide sale deed dated 23.09.2009 […]
Vide Notification No. 31/2021-Income-tax Dated 5th April, 2021 CBDT notifies amendment in Rule 10DA which deals with Maintenance and furnishing of information and document by certain person under section 92D, Rule 10DB which deals with Furnishing of Report in respect of an International Group & Form No. 3CEAB which is Intimation by a designated constituent […]
Hello readers, Today I will discuss key changes in ITR Forms for A.Y 2021-22 in simplified form- ♦ Regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N Now what is Section 194N-TDS u/s 194N is required to be deducted if amount of cash withdrawn exceeds – Exceeds Rs […]
New financial year has begun and with this certain new income tax rules have come into effect. Let us discuss the changes applicable to individual tax payers related to Option to choose from Two tax regimes, Reduced period for filing the belated ITR or for revising your filed ITR, Inclusion of dividend income in ITR […]
Section 194C : Applicability Analysis Main Ingredient of Section 194 C are – (A). Any Person responsible for making payment, (B) Payment has to be made to resident, (C). Payment has to be for work, (D). Payment is in pursuance of a Contract with specified person (E). At the time of credit or payment which […]
Deduction of TDS and Taxability of the same; An Analysis of section 198 and 145 of Income tax 1961. As per basic understanding, the net income which is received by the assessee in hands shall be net of the gross income accrued and the tax deducted at source. There came some cases where assessee considered […]
Understanding the new provision of higher TDS rates for non-filers of Income Tax Return. Learn about the implications and rates.
