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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
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 : 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 : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
India, being one of the fastest growing e-commerce market, is expected to see a spurt in the coming years. Moreover, any such pandemic that requires us to stay indoors and avoid physical interactions, has increased the requirement of operators and businesses to use digital platforms to cater customers and serve them with the best possible […]
Due to the lack of statutory law and legislative framework governing transfer pricing, the taxability of AMP expenses has become a biggest controversy and dilemma, and it also offers no guidance in situations where an express agreement does not exist.
This article provides valuable tips and suggestions to assist all the taxpayers in saving their taxes that are to be paid for the financial year 2019-2020. This article is packed with real-life comprehensive illustrations which shall give all the readers thorough insights to lower their tax incidence and will also help them understand the tax provisions & implications in a finer way
वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने के लिए सीबीडीटी 20 जुलाई, 2020 से आयकर विभाग की नई पहल 20 जुलाई, 2020 से वित्त वर्ष 2018-19 के लिए स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने जा रही है। एक आधिकारिक प्रेस विज्ञप्ति में, सीबीडीटी ने कहा है कि सोमवार से […]
The issue under consideration is whether the AO is correct in disallowance of the deduction claim u/s 10AA by stating that the import of diamonds for re-export is not eligible for such deduction?
The issue under consideration is whether short of the jewellery found during search be treated as sold and capital gain attracted?
Data Transmission Services did not amount to royalty in terms of Article 12 of the Indo-Thai Double Taxation Avoidance Agreement.
Menace of fake-invoicing is a challenge that we face in the GST regime. All this requires that we identify risky players, both in the international and domestic trade, and subject their transactions to closer scrutiny while allowing licit transactions to be processed expeditiously.
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act, 1961. Payer:- All Assesses, except Individuals & HUF who are not subjected to Audit u/s. 44AB(a)&(b) during preceding Financial Year. Payee:- Resident Time of Deduction:- Credit or Payment, Whichever is earlier. Rate:- -Individual/HUF- 1% -Others-2% Threshold Limit:- 30,000 for […]
Introduction- LRS was brought in as a relief to all Indian Residents to remit money outside India. Intially brought in partial capital account convertibility by allowing specified capital account transactions up to the LRS limit. It is available to all Resident Individuals including minors. Up to USD 250,000 per financial year can be remitted every […]