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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...
The advisory explains various processes and functionality for backend handling of refund claims by CBIC officers in the Refund module in the system. It is suggested that the proper officer in your zone may be sensitized to go through the advisory and appropriately handle the refund applications being filed online w.e.f. 26.09.2019.
U/s 280A(1) of IT Act 1961, Central Government, in consultation with the Chief Justice of the Karnataka High Court designates Special Court in the State of Karnataka vide Notification No. 79/2019-Income Tax dated 11th October, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (INVESTIGATION DIVISION-V) Notification No. 79/2019-Income Tax New Delhi, […]
PCIT Vs Pukhraj S. Jain (Bombay High Court) It is well settled through series of judgements that merely because a debt has not been repaid for over three years, would not automatically imply cessation of liability. Exhaustion of period of limitation may prevent filing of recovery proceedings in a Court of law, nevertheless it cannot […]
Shri Ram Mohan Rawat Vs ITO (ITAT Jaipur) Reasons recorded by the AO for formation of belief that income assessable to tax has escaped assessment are based on two counts. One, the assessee has made bogus purchases and the second, that the purchases are not verifiable as the as the assessee has not filed the […]
Office Order No. 223 of 2019- The following transfer/postings of the officers in the grade of Assistant Commissioner/ Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
The issue under consideration is whether AO can issue notice under section 148 for re-assessment without issuing notice u/s 143(2)?
Appointments Committee of the Cabinet (ACC) has approved Empanelment of the following officers for promotion to the grade of Commissioner of Income Tax (CIT) in the Indian Revenue Service (Income Tax) in Level 14 of the Pay Matrix (Rs.144200-218200/-) for the panel years 2017-18 and 2018, w.e.f. the date of assumption of the charge of the post and until further orders
CBDT amends Rule 10CB relating to interest income computation for secondary adjustments (Notification No. 76/2019/ F.No.370142/12/2017-TPL) Introduction The Finance Act, 2017 inserted Section 92CE in the Income-tax Act, 1961 (the Act) w.e.f. 1 April, 2018 to provide for secondary adjustment, where, as a result of primary adjustment to the transfer price, there is an increase […]
E-Assessment Scheme 2019 Finance Minister’s Budget Speech 2019 The Hon’ble FM, in her Budget Speech on 5th July 2019 announced: √ Faceless assessment in electronic mode √ With no human interface √ To be launched in 2019 in a phased manner √ Notices to be issued electronically by a Central cell √ Cases to be […]
What is happening today? Today, under the mandate of the G20, the OECD Inclusive Framework has just presented a new stage of the BEPS 2.0 initiative, to address the challenges of taxing multinational corporations in the digital era. Previous attempts at tax reform have only tried to plug the holes in our international tax system […]
