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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...
Simplified and Latest version of Basic Concepts of Income Tax (Including amendments up to 26/9/2019). The Topics included are Income-tax: Basic concepts; Residential status and tax incidence; Exempted incomes; Agricultural income; Computation of taxable income under various heads; Deductions from Gross total income; Assessment of Individuals; Clubbing of incomes I. CONCEPTS OF INCOME TAX. A. […]
1) Go to the Income Tax department’s e-filing website and click on “Notice/Order Issued by ITD” button on the left side or visit the following link- https://www1.incometaxindiaefiling.gov.in/e-FilingGS/Services/AUTHNoticeLink.html?lang=eng 2. You can search any income tax notice online by any of two methods below at above link- 1. With Document Number 2. With PAN, Assessment year, Notice […]
Central Board of Direct Taxes hereby directs that the Income-tax Authority of Regional e-Assessment Centres (read as ReAC) specified in column (2) of the Schedule below, having their headquarters at the places mentioned in column (3) of the said Schedule, shall exercise the powers and functions of the Assessing Officer
The issue under consideration is whether Non-furnishing of reasons recorded for reopening of assessment made the entire assessment u/s 147 invalid in law?
Shri Kailash Chand Soni Vs ACIT (ITAT Jaipur) The issue under consideration is whether the addition on account of disallowance of interest expenses which are in accordance the provisions of section 57(iii) of the Income Tax Act, 1961 is justified in law? In the present case, the assessee has taken unsecured loans from various parties […]
Representations have been received from the stakeholders seeking clarification on following issues relating to exercise of option under section 115BAA: (a) Allowability of brought forward loss on account of additional depreciation; and (b) Allowability of brought forward MAT credit.
The term ‘Royalty’ defines the income received by the innovator against the usage of the patented innovation. The individual receiving such income can claim deduction under section 80RRB if they satisfy all the requisite conditions. The present article explains all the provisions attached with deduction available under section 80RRB of the Income Tax Act. Eligibility […]
Understand the implications of the new tax sections, 115BAA and 115BAB. Learn about the restrictions on availing benefits and incentives for companies.
Since AO had purported to assume the jurisdiction for reopening of assessment, without having first disposed of assessees objections to the reasons by passing a speaking order, therefore, failure to follow the procedure renders the assumption of jurisdiction by AO ultra vires in law.
All communication from Income Tax Department must have a computer generated DIN w.e.f. Oct 01, 2019 With effect from October 01, 2019, any communication from Income Tax Department without a computer-generated DIN i.e. Documentation Identification Number, be it a notice, letter, order & summon or any other correspondence,would be treated as invalid & shall be non […]
