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Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
Income Tax : ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Discover highlights of India’s Union Budget 2024-25: low inflation, ₹2 lakh crore for youth schemes, 109 crop varieties, and extensive tax reforms by Finance Minister Nirmala Sitharaman.
Union Finance Minister outlines tax reforms in Budget 2024-2025, including Income-tax Act review, digitalization of tax services, and Vivad se Vishwas Scheme for dispute resolution.
Explore the Union Budget 2024-25 highlights by Finance Minister Nirmala Sitharaman: ‘Angel tax’ abolished, corporate tax for foreign companies reduced to 35%. Simplified rules for FDI, climate finance taxonomy
Discover the Ministry of Finance’s latest tax changes: ₹75,000 standard deduction, enhanced pension benefits. Potential savings of ₹17,500/year for salaried employees.
Finance Minister Nirmala Sitharaman introduced the Finance Bill 2024 and the Final Budget for the fiscal year 2024-25 in the Lok Sabha on July 23, 2024. This budget, which marks her seventh consecutive presentation, outlines the government’s financial strategy and priorities for the upcoming year. The budget aims to stimulate economic growth, ensure fiscal discipline, […]
The Madras High Court ruled in Satluj Credit & Holdings Pvt Ltd Vs ITO that discrepancies between reasons in notices u/s 148A(b) and orders u/s 148A(d) invalidate the notice’s purpose.
ITAT Delhi held that approval granted u/s. 153D of the Income Tax Act by the superior authority in mechanical manner has no legal sanctity in the eyes of law. Thus, assessment order in consequence to such inexplicable approval lacks legality.
Detailed analysis of Calcutta HC’s judgment in Anup Kumar Agarwal vs Union of India, addressing issues under Sections 148A and 151A of the Income Tax Act, 1961.
Discover why taxpayers are urging for an extension of July 31 ITR filing deadline in 2024. Learn about ITR forms, filing steps, common issues, and push for an extended filing period.
Explore key corporate tax proposals for Union Budget 2024-25: lower tax rates, new incentives, and rationalized TDS to boost growth and investment in India.
