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Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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 : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Learn about capital gain tax exemptions on property under redevelopment, including eligibility under Section 54 and implications for sales and possession delays.
Introduction In International Taxation, the concept of “make available” is very important to be looked into. It helps in determining whether the concerned fee paid for the services which are rendered cross-border would be classified as royalties or fee for technical services and would attract the withholding tax. Understanding how “make available” works helps the […]
Summary: The Vivad Se Vishwas Scheme, 2024 has been introduced to expedite the resolution of tax disputes and reduce litigation, following the success of the first scheme launched in 2020. Despite resolving 1.46 lakh cases and recovering ₹0.54 trillion, in VsV 202, tax appeal pendency has risen again, with over 5.44 lakh cases pending before […]
Simplified summary of Direct Tax Vivad Se Vishwas Scheme 2024, covering its applicability, forms involved, and payment details for settling tax disputes.
Let’s talk about the tax benefits you can enjoy as an NRI in India and on Income earned outside India. Many NRIs don’t realize that the Indian tax system is pretty favorable, especially for those who mostly earn outside India.
Budget 2021 came up with the insertion of section 148A of the Income Tax Act. It is a welcome section from the point of view of taxpayers. In simple terms, section 148A acts as an opportunity granted to taxpayer to explain their case before issuance of notice for reopening of assessment by the tax authorities […]
Learn the key changes in income tax slabs for AY 2024-25 & 2025-26 under section 115BAC, including standard deductions and new tax rates.
ITAT Mumbai remands case on capital gain exemption for two adjoining flats under Section 54F, directing physical verification of flats by the Assessing Officer.
Madras High Court held that addition towards difference between purchase value and guideline value without awaiting report of valuation officer, as matter was referred to valuation officer, is clearly unsustainable.
Delhi High Court held that deduction of tax by Land Acquisition Collector is duly, however, the same was not reflected in Form 26AS. Thus, petitioner cannot be penalized for mere reason that Form 26AS suffered from a discrepancy.
