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Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...
Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
Payment to parent company for copyrighted software on principle to principle basis cannot be treated royalty and TDS not applicable on payment to parent company not having PE in India.
Swastik Coal Corporation Pvt. Ltd. Vs Pr. CIT (ITAT Indore) The basis of exercising of revisionary jurisdiction u/s 263 of the Act as per Ld. Pr. CIT is that transfer pricing related issues were not examined by the A.O. since the transaction carried out by the assessee are covered under specific domestic transactions. The contention […]
Parnami Pump & Projects Pvt. Ltd. Vs DCIT (ITAT Delhi) Bogus Purchases Cannot Be Wholly Disallowed Without Disallowing Sales Only Gross Profit (GP) Rate Should Be Added as Undisclosed Income We find that the Assessing Officer had issued summons u/s.131 to the proprietor of the said entity from whom assessee has made purchases, but that […]
Author discusses Which Company eligible for claiming lower Income tax rate, Meaning of Manufacture or Production for section 115BAB, Anti Abuse Provisions under Section 15BAB, Related Party Transactions & Transfer Pricing with reference to Section 15BAB and Taxability at higher Income Tax rates.
Approval given by approving authority for reopening of assessment u/s 147 of the Income Tax Act, 1961 was without due application of mind and in mechanical manner – reassessment should be quashed.
Krishna, the eve of Makarsankranti where people celebrate it by flying different types of Kites. This year new Income Tax returns have been notified by CBDT. How shall the tax payers fly the new ITR?
In recent times, cases of additions of income by respective Income Tax Officers/Assessing Officers have increased substantially. Factor such as demonetization, increased reliance on information technology and availability of tremendous data available with the Income Tax Department have contributed in the growth of litigations between the assessees and the income tax department. APPEAL BEFORE COMMISSIONER […]
A gift is Money or House, Shares, Jewelry etc. that is received without any consideration, or simply an asset received without making a payment against it and is a capital asset for the Recipient. It can be in the form of cash, movable property or immovable property. (A capital asset typically refers to anything the individual owns for personal […]
This article focuses on Tax Deducted at source on payment of Rent on Residential property by an individual and HUF which is covered by Section 194-IB. Article also cover Tax deduction under Section 194I on rent by those in Business. Article further covers the comparison between TDS deduction section 194I and 194IB.
It is informed that for the purpose of carrying out Revenue Audit of the cases completed in e-proceeding mode, the facility to access ‘Closed Assessment Proceedings’ is now made available for AO Staff user in Income Tax Business Application w.e.f. 14/01/2020.
