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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...
Prime Minister Narendra Modi has launched the platform for ‘Transparent Taxation – Honouring the Honest’ on 13/08/2020 via Video Conferencing. In the past 6 years, India has witnessed the evolution of a new governance model in tax administration. Govt have decreased – complexity, taxes, litigation, and increased – transparency, tax compliance, and trust on the […]
CBDT notifies 4195 Income-tax Authorities of Regional e-Assessment Centres to exercise the powers and functions of Assessing Officers concurrently, to facilitate the conduct of Faceless Assessment proceedings in respect of notified territorial areas vide Notification No. 65/2020, Dated: August 13, 2020. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes […]
CBDT notifies 34 Authorities for Faceless Assessment vide Notification No. 64/2020, Dated: August 13, 2020. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Notification No. 64/2020, Dated: August 13, 2020 S.O. 2756(E).-In pursuance of the powers conferred by sub-sections (1), (2) and (5) of section 120 of […]
CBDT notifies Headquarter & Jurisdiction of 128 Principal Commissioner/ Commissioner of Income-tax (PCIT/CIT) vide Notification No. 63/2020, Dated: August 13, 2020 and it also notified PCIT/CIT who will excercise Jurisdiction Union Territory of Jammu & Kashmir and the Union Territory of Ladakh. Government of India Ministry of Finance Department of Revenue Central Board of Direct […]
CBDT notifies revised Headquarters and jurisdictions of 56 Principal CITs & CCITs vide Notification No. 62/2020, Dated: August 13, 2020. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Notification No. 62/2020, Dated: August 13, 2020 S.O. 2754(E).-In exercise of the powers conferred by section 118 and sub-sections […]
Prime Minister’s Office Prime Minister Narendra Modi launches platform for ‘Transparent Taxation – Honouring the Honest’ Tax system aims to be Seamless, Painless, Faceless : PM Says the number of taxpayers is significantly low with only 1.5 Crore paying taxes in a country of 130 Crore people Prime Minister urges people to introspect and come […]
Relief Under section 90 if the country in which tax is paid has entered double taxation avoidance agreement with the Government of India. Relief Under section 91 if the country in which tax is paid has not entered into any agreement with the Government of India.
Sachin himself interestingly pleaded that he was an actor and not a professional cricketer in the case of Sachin R. Tendulkar v. Assistant Commissioner of Income Tax adjudged by the Income Tax Appellate Tribunal (ITAT).
The assessment shall be made as per the following procedure, namely:— (i) the National e-Assessment Centre shall serve a notice on the assessee under sub-section (2) of section 143, specifying the issues for selection of his case for assessment;
National e-assessment Centre shall assign the case selected for the purposes of e-assessment under this Scheme to a specific assessment unit in any one Regional e-assessment Centre through an automated allocation system;
