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Income Tax : Overview of key income tax changes for non-residents, charitable trusts, and individuals, including SEP rules, fund management, an...
Income Tax : Budget 2025 focuses on economic growth, tax reforms, and infrastructure. Key changes include new tax rates, financial sector refor...
Income Tax : Explore tax benefits available for parents under the Income Tax Act, including education, health insurance, and deductions for med...
Income Tax : Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligib...
Income Tax : Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
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 : Delhi HC dismisses revenue's appeal, affirming that cash sales during demonetization, accounted for and taxed, cannot be treated a...
Income Tax : DCIT Vs K Raheja IT Park (Hyderabad) Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai dismissed appeals filed by...
Income Tax : Delhi High Court sets aside ₹14.63 crore penalty on Property Plus Realtors, ruling the order was issued beyond the statutory lim...
Income Tax : Delhi High Court dismisses appeal in PCIT vs Thapar Homes Ltd, ruling penalty under Section 271E was time-barred under Section 275...
Income Tax : ITAT Bangalore ruled on the taxability of Transferable Development Rights (TDR) in the case of Smt. Sowmya Sathyan vs. ITO, clarif...
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...
Now Electronic Verification Code (EVC) can be generated by pre-validating your bank account on the e-Filing website. Punjab National Bank is the first bank to launch this facility which will facilitate its customers, who may not have a net-banking account, to e-verify their return. Other banks are expected to launch this facility.
Stay updated on the revised TDS/TCS compliance and rates effective from 01.06.2016. Understand the comprehensive analysis and comparative study for accurate tax deductions.
Where assessee was earning booking charges for facilitating transport of goods and was merely a conduit in passing the freight to the truck owners, who were actually plying trucks, disallowance under section 40(a)(ia) was not justified because freight payment was not even claimed by assessee as an expense in its profit and loss account.
Any person paying to a non resident, not being a company or foreign company, shall deduct income tax. Payment made outside India is subject to TDS except in payment of Salary or Dividend. This explanation is derived from Section 195(1) of Income tax act which reads as.
In exercise of the powers conferred by sub-rule (4) of Rule 1OVA of the Income Tax Rules, 1962.read with section 9A of the Income-tax Act ,1961 (43of 1961), the Central Board of Direct Taxes here by notifies the following Committee for the purposes of the said sub-rule
While there are impediments in obtaining information relating to undisclosed assets stashed away abroad, pursuant to various initiatives taken by the Government, the flow of information has improved leading to better enforcement action. The Government has taken several measures to effectively deal with the issue of black money.
In exercise of the powers conferred by sub-rule (4) of Rule 10VA of the Income-Tax Rules; 1962, read with section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby notifies the following Committee for the purposes of the said sub-rule:‑
Central Board of Direct Taxes (CBDT) constituted MAT- Ind AS Committee to suggest framework for computation of book profit for purposes of levy of Minimum Alternate Tax (MAT) under Section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies in the year of adoption and thereafter.
As per the reports received by us Finance bill 2016 is passed by Lok Sabha today . Finance bill 2016 was having 128 clauses proposing amendment to Income Tax Act, 1961. Finance bill 2016 was presented in Lok Sabha by Finance Minister Arun Jaitley on 29th February 2016. Bill passed by Lok Sabha has 47 […]
Income Tax Rules 29B is related to Application for certificate authorising receipt of interest and other sums without deduction of tax under sub-section (1) of section 195. In this rule one of the condition for issue of certificate was that person applying for the certificate has not been subjected to penalty under clause (iii) of sub-section (1) of section 271.
