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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...
Annuity payable by ASPs to NRIs and OCIs will be taxed at source, at rates applicable as per the DTAA (Double Taxation Avoidance Agreements) of the country where the annuitant resides.
H.S. Ramchandra Rao Vs CIT (Supreme Court) Amount received by assessee for relinquishing secretaryship of educational society cannot be treated as a capital receipt. The substance of the admission is that the appellant was holding the post of Secretary of the Institution [Paramahamsa Foundation (R) Trust] until 1996 but he left the institution after new […]
CBDT authorizes CIT, to admit belated applications in Form 9A and Form No. 10 in respect of AY 2017-18 where such Form No. 9A and Form No.10 are filed after expiry of time allowed under relevant provisions of the Act.
There are issues that are still to be resolved in respect of interplay between income tax and IBC. One such issue that may arise in the future is taxation of the company acquired under the resolution process under section 56 i.e Income under Other Sources.
This paper will argue that the introduction of Equalisation Levy was unwarranted, unnecessary and in some ways excessive considering the advancements made in the taxation regime. The 1st part of the paper will analyse what Equalisation Levy is, the 2nd part will get into the criticisms of such taxation, the 3rd part will explain the alternatives which fully cover digital transactions, which will be followed by the conclusion.
1. Introduction Around the world, the momentous advancements in technology, increased digitalisation and the unprecedented flow of information is causing the tax administrations across nations, to re-think and re-examine their conventional and traditional modes of administration to stay effective and non-obsolete and to engage in digital transformation through the introduction of new technologies and analytical […]
CIT Vs Bhagwan Shree Laxmi Narain (Delhi High Court) Conducting of samagams and spiritual discourses are part of religious activities and religious activity in the context of the Hindu religion need not be confined to the activities incidental to a place of worship only, like a temple. It is not in dispute that the activities […]
Ashok G. Chauhan Vs Asst. CIT (ITAT Mumbai) In the present case, admittedly the flat at Goa was not fully and wholly owned by the assessee as the same was initially owned co-jointly in the name of assessee and his wife. Admittedly, it is nobody’s case that wife was benami of the assessee. Therefore, the […]
Extension of date of Direct Tax payment in respect of third installment of advance tax for FY 2019-20 Considering the large-scale disruption of Internet Services in the North Eastern States-Assam, Tripura, Arunachal Pradesh, Meghalaya, Nagaland, Manipur and Mizoram, the Central Board of Direct Taxes, in exercise of powers conferred under clause (a) of sub-section (2) […]
Bombay HC held that in case, the deductor has failed to upheld the correct details in form 26AS the benefit should be given to the assesssee on the basis of evidence produced before the Department.
