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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...
Limitation period for issuance of scrutiny notice under section 143(2) on filing of defective returns was to be considered from the date of filing of the original return as upon removing of defects, the return would relate back to the date of filing of the original return thus, the notice under section 143(2) was issued beyond the period of limitation and could not be sustained.
The section 44AD of the Income Tax Act contains special provisions for computing profits and gains of a business on presumptive basis. It is applicable in respect of eligible business / (es) carried by an eligible assessee.
Organising your business in the form of Private Limited Company has got its own advantages such as Limited Liability of the owners, Perpetual existence, Better Image and credibility among stakeholders, separate legal entity and improved Borrowing Capacity and so on. A company enjoys better avenues for borrowing of funds. It can issue debentures, secured as […]
The article attempts to revisit the SC latest verdict on address updation in PAN Card which is must without which the assessee cannot claim that he was not served with notice issued to him under the Income Tax Act. In PCIT Vs IVen Interactive Limited, the Supreme Court’s judgement dt. 18.10.2019 says that mere mentioning […]
person working in software industry cannot be termed as ‘Wages’. In our view there is no distinction sought to be made in the provisions of Sec.80JJAA of the Act
RDS Project Limited Vs ACIT (Delhi High Court) One is known by the company one keeps. Sh. Tarun Goyal has been established to be engaged in the business of providing accommodation entries. He is the promoter of about 90 companies from the same set of addresses as aforesaid. Amongst the companies promoted by him are […]
Income Tax Department conducted search operation on a group based in Delhi in connection with tax evasion and money laundering. The group is engaged in various e-governance projects and financial services. It has presence across several cities in India and also in Dubai.
Naveen Kumar Kaparthy Vs ITO (ITAT Hyderabad) In the instant case, when the books of account are not maintained, the AO did not initiate any proceedings for not maintaining the books of account. The AO obviously satisfied that the books of account were not maintained for good and sufficient reasons. When the AO accepted the […]
The issue under consideration is whether the denial of assessee’s application u/s 264 on the ground that assessee not having filed revised return within prescribed time is justified in law?
Agreement between the Government of the Republic of India and the Government of the Kingdom of Morocco for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes MINISTRY OF FINANCE (Department of Revenue) Notification No. 84/2019-Income Tax New Delhi, the 22nd October, 2019 S.O. 3789(E).—Whereas, the Protocol amending the […]
