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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...
Accordingly, the interest on deposits would qualify for deduction under the said section. Appellant Cooperative society is entitled for deduction u/s 80P as claimed in the return.
ITAT Ahmedabad deletes penalty on Shree Gunatit Jyot Mahila Trust for a bona fide error in deduction claim on building construction expenses.
ITAT Ahmedabad dismisses P. Praful & Co.’s appeal for repeated non-appearance over 33 hearings, citing lack of cooperation and relevant documentation.
Tax calculation under Section 115BBE is a rectifiable error under Section 154, not Section 263, as it’s not derived from an Assessment order
ITAT Ahmedabad orders deletion of Rs. 34.3 lakh addition under Section 68, citing deposits from known sources. Case remanded for further verification.
Patna High Court rules that an Assessing Officer cannot summarily reject Section 197 applications based on pending tax demands. Orders set aside for reconsideration.
Calcutta High Court allows appeal against ITAT ex-parte order, requiring Klenzer Trading to pay Rs. 1 Lac to Bar Association as a condition for rehearing.
Calcutta HC upholds ITAT’s decision allowing 80G(5)(iii) registration after six months of activity commencement, dismissing revenue’s appeal.
Learn how to validate bank accounts for income tax refunds for AY 2024-25. Ensure a smooth refund process by following these essential steps.
Relevant provisions of Indian Income Tax Act that non-residents must comply with when setting up a business in India, and residents dealing with non-residents.
