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Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Delhi High Court held that addition of value of shares granted under the Employees Stock Purchase Scheme as perquisite in terms of section 17(2)(iiia) of the Income Tax Act unsustainable in law.
ITAT Jaipur rules in favor of Hitkari Vidyalaya Sahkari Shiksha Samiti Ltd, allowing 80P deduction on interest income from cooperative banks for AY 2017-18 & 2020-21.
Delhi High Court held that that no notice under section 148 of the Income Tax Act shall be issued if four years “but not more than six years” have elapsed from the end of the relevant assessment year.
Learn how to use 26AS text to Excel conversion tool. Tested in Excel 2019, 2021, and Office 365. Follow simple steps to convert and manage TDS/TCS data efficiently.
The Madras High Court ruled that the 2016 amendment to Section 50C of the Income Tax Act applies retrospectively, impacting capital gains assessment for earlier years.
Faceless assessments in FY 23-24 raised Rs 43 trillion in tax arrears, sparking concern over the impact on India’s tax ecosystem and small businesses.
The Central Action Plan 2024-2025 by CBDT aims to optimize India’s direct tax system, focusing on revenue, litigation, taxpayer services, and efficient administration.
The Finance Act, (2), 2024 has made certain changes relating to levy of income tax on consideration received on buy-back of shares resulting significant impact on income tax liability to shareholders. This change impacts all future buy back proposals. Corporates houses are evaluating different strategies to minimise the tax impact. Legal experts challenges taxing buy […]
Bombay High Court imposed a cost on JAO and CCIT of Mumbai for not following judgement Hexaware case and Order them to deposit 25000 each as personal Cost with National Association for the Blind
Bombay High Court rules that CIT(A) cannot dismiss appeals for non-prosecution. Tribunal’s decision to restore appeal upheld.
