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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...
ITAT Pune held that exemption under section 54F of the Income Tax Act entirely allowed as entire amount re-invested by the assessee and name of the son taken only as a proforma purchaser.
Madras High Court held that lease rent received from letting out property in industrial park is chargeable to tax under the head ‘Income from Business’ and not under the head ‘Income from house property’.
ITAT Delhi held that the onus is always on the assessee to substantiate with evidence to the satisfaction of the AO regarding the identity and credit worthiness of the loan creditor and genuineness of the transaction. Matter restored to verify transaction for addition u/s. 68.
Delhi High Court clarifies taxability of profits attributed to a Permanent Establishment (PE) under the India-UAE DTAA, even when global losses are incurred.
Tata Sons challenges incorrect interest calculation on refunds under Section 244A. ITAT Mumbai directs reassessment of refund and interest for AY 1993-94.
ITAT Bangalore held that confirmation not containing PAN cannot be reason for addition as the confirmations were available with the AO and if he had any doubt regarding he could have again verified with the creditors. Addition in respect of creditors deleted.
ITAT Bangalore held that filing of form 10B is only directory and the same is not mandatory. Hence denial of exemption under section 11 of the Income Tax Act for delay in filing of form 10B unjustified.
Summary of the Direct Tax Vivad Se Vishwas Rules, 2024. Notification outlines tax dispute resolution, declarant obligations, and MAT credit reduction.
Learn about the block assessment scheme in income tax, its key features, and how it impacts search and seizure cases under the Finance Act (No.2), 2024.
ITAT Bangalore held that delay in filing of an appeal due to election code of conduct and ill health of staff is sufficient cause and accordingly condonation of 25 days in filing of an appeal granted.
