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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...
Where assessee had furnished relevant evidences such as copies of bank statement, demat account, share purchase documents and share certificate., etc., to prove its bogus long-term capital gain on sale of shares and no adverse material had been brought on record by AO to disprove the claim of assessee, addition made under section 68 on account of unexplained credit could not be sustained.
Significant academic research has been conducted to establish factors that lead to voluntary tax compliance. A plain and pessimistic conclusion of some redoubtable research is that taxpayers have an inherent selfish motive to evade taxes;
A Tax break is a saving on a tax payer’s liability and provides savings to tax deductions and exemptions. Tax breaks are an essential component of any taxing statute. However, as a result of the tax breaks, a chunk of revenue otherwise available to the exchequer is lost.
The Royal proclamation on November 1, 1858 in grand Darbar held at Allahabad was a major event in modern Indian financial history. Lord Canning announced that the Queen had assumed the governance of India.
Unprecedented pace of changes happening in the field of Information and Communication Technology (ICT) offers both unfamiliar challenges as well as new vistas for effective tax administration. This article demonstrates as to how the GSTN offers huge possibility, as a real time collaborative tool, for TDS wing of ITD to have an effective compliance verification system without much additional cost or manpower.
A substantial volume of global trade comprises transactions between related enterprises within groups of multinational enterprises (MNEs). The transactions between such related or associated enterprises may take place under conditions different from those taking place between independent enterprises.
Addition under section 68 made by AO of the entire share capital and premium received during the year on the basis of negative observation about availability of funds with share applicant was unjustified as the share applicant was the sister concern of assessee, from whom similar share application with premium were received in the earlier year and the balance sheet of the share applicant showed ample source of funds.
The Tax Policy, which feels the pulse of the public and addresses their concerns while raising taxes for the Government is considered as the most progressive one. On the other hand, if it ignores the ground reality, it arouses adverse public sentiments.
The provisions of section 194H of the Income Tax Act, 1961 governs the TDS deductible on commission or brokerage income. The present article briefs the basic provisions of section 194H of the Income Tax Act; explains the meaning of commission / brokerage; provides TDS deduction rate and time of deduction of TDS and also provides the […]
1. Since 1 April, 2018, long-term capital gains (LTCG) made on redemption of equity mutual funds have been subject to 10% tax. 2. The tax is applicable on LTCG made by the investor over and above Rs 1 lakh a year. 3. However, the LTCG made till 31 January, 2018, have been grandfathered, so the […]
