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Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
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 : 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 : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....
Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....
Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....
Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...
Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...
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...
n the era of technology and data analytics, Income Tax Department too empowered itself with one of the most enabling report which allowed itself to peep itself into the assessee’s deeper secrets by laying down the responsibility on Financial Institution like Banks, Mutual Funds, to submit AIR (Annual Information Report). In this article, what we will try to analyse in the forthcoming discussion that how this crucial guard of information available with the department against evasion slowly becoming an indiscriminate weapon in the hands of the officials for harassing the assesses and how the proceedings emanating from AIR should be dealt with.
Health care plans provide tax benefits. Premiums paid towards your health care policy are eligible for tax deductions under Section 80D of the Income Tax Act, 1961. If you are under 60 years of age, you may claim up to INR 25,000 tax benefits on health insurance premiums for yourself, your spouse, and dependent children, and an additional tax benefit of INR 25,000 for parents. If either of your parents is a senior citizen, you may claim up to INR 30,000 tax benefit.
This is the world of digitalization, with accessible internet, tech savvy citizens, and keeping in mind the perks of it, administrative departments in the country are on a pathway of digitalization. Physically operated administration practices are continuously being upgraded to computerized version to improve efficiency and resource utilization. Taxpayers are also on the same hand […]
आयकर कानून के तहत एक धारा 269SU बजट के दौरान लाई गई थी आइये सबसे पहले समझें कि क्या है यह धारा 269SU, यह धारा कब लाई गई थी और कब से यह लागू हुई है, किन व्यक्तियों पर लागू होगी और इसके अतिरिक्त इस धारा के प्रावधानों का पालन नहीं करने पर क्या पेनाल्टी लगेगी.
It is hereby notified for general information that the organization M/s Indian Institute of Technology (Indian School of Mines), Dhanbad (PAN:- AAAAI0686D) has been approved by the Central Government for the purpose of clause (ii)/(iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2019-2020 and onwards under the category of University, College or other Institution, subject to the following conditions, namely:-
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No.10 and Form No.9A for Assessment Year 2018-19 and subsequent years- Circular No. 3/2020-Income Tax Dated 3rd January, 2020.
Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10B for Assessment Year 2018-19 and subsequent years–Circular No. 2/2020-Income Tax Dated 3rd January, 2020. Circular No. 02/2020-Income Tax F.No.197/55/2018-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the 3 […]
Relaxation of time-Compounding of Offences under Direct Tax Laws (Income Tax)-One-time measure-Extension of Timeline- Circular No. 1/2020-Income Tax Dated 3rd January, 2020.
Please read carefully provisions of Section 269SU which related to Acceptance of payment through prescribed electronic modes, otherwise Rs. 5000/- per day penalty under Section 271DB shall be imposed on Every person, carrying on business his total sales, turnover or gross receipts, as the case may be, in business exceeds Rs.50 (fifty) crore rupees during the immediately […]
The concept of joint development agreement is common now a days because of its advantage of bringing together of both landlords and the developer. The landlord who has land with insufficient funds to develop such land can reap the benefit of current market price after the development. Always the price for developed property is greater […]
