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Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
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 : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
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 : 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...
National e-Assessment Centre, Delhi Room No. 401, 2nd Floor, E-Ramp, Jawaharlal Nehru Stadium, Delhi-110003. email:delhi.pccit.neac@incometax.gov.in Phone No: 24367003; Mobile no & WhatsApp: 9773924660 F. No. Pr.CCIT(NeAC)/2019-20/61 Dated: 24.12.2019 Subject:- Extension of time limit for filing of response to notices issued under section 142(1) of the Income-tax Act, 1961 under E-assessment Scheme-2019. With a view to […]
Article explain What Is Section 194N of Income Tax Act, 1961, Who Will Deduct TDS Under Section 194N, Importance Of TDS Under Section 194N, Rate of TDS Under Section 194N and Threshold limit, From which date Section 194N and Section 194N applies to cash withdrawal by whom. What Is Section 194N? Section 194N is applicable […]
Now a days Income Tax Return (ITR) filing is very important and necessary for every assessee in the rapidly changing economic scenario. But I have come across the fact that with the increasing needs of filing ITR , “THE MYTHS ABOUT FILING ITR ARE ALSO INCREASING DAY BY DAY”. These Myths include Myths Like I […]
Section 194M: TDS @ 5% on payment to Resident Contractors & Professionals by an Individual / HUF [applicable w.e.f. 01.09.2019] A New Section 194M is inserted in The Income Tax Act, 1961 [“The Act”] vide Finance Act, 2019 to provide for levy of TDS at the rate of 5% on the sum paid or credited in a […]
Understand the taxation of dividends in the income tax act. Learn about the distribution tax, exemptions, and implications for shareholders.
Note on Retrospective Operation Of Benami Transactions (Prohibition) Act, 1988: Section 1(3) provides that ‘the provisions of section 3, 5 and 8 shall come into force at once (5th September 1988) and the remaining provision of this Act shall be deemed to leave come into force on the 19th day of May,1988. The decision of […]
Ganpati Dealcom Pvt. Ltd. Vs Union of India & Anr. (Calcutta High Court) By an amendment an existing Act is supplemented by new provisions adding to or subtracting from it. It is usual that parts of the existing Act are retained. Say for example, there is a provision in the existing Act for penalty in […]
The question that arises for consideration is where there is no new material brought on record by the Assessing subsequent to completion of original proceedings u/s 143(3) and where the matter was duly examined during the original assessment proceedings, whether the Assessing officer can still acquire jurisdiction by exercising powers u/s 147 of the Act.
1. WHAT IS TAXED? Under the Income Tax Act what is taxed under the head ‘Income from house Property’ is the inherent capacity of the property to earn income called the Annual Value of the property. This is taxed in the hands of the owner of the property. 2. COMPUTATION OF ANNUAL VALUE This is […]
INTEREST PAYABLE & RECEIVABLE BY THE TAXPAYER Do you know? The Income-tax Act requires that Income tax returns be filed in time, Advance tax and regular tax are paid correctly within the time prescribed. In case the assessee fails to do so, interest is chargeable under various provisions and there is no tax benefit on […]
