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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 : 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 : ITAT Pune ruled on capital gains in Smt. Vimal Baburao Jadhav Vs ITO. The Tribunal held Section 50C inapplicable, recalculating LT...
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...
To, Hon’ble Chief Justice of India Supreme Court of India Subject: Bureaucracy in India – A Real Hurdle for Development of Country Respected Sir, “Minimum government, maximum governance” – is it fact or fantasy? Government has merged key ministries in an apparent attempt to bring in more synergy in governance and make decision making quicker […]
The central Board of Direct taxes has extended the date of obtaining and furnishing the Tax audit report to 30/11/2014 though the Date of filing of Income tax returns is still 30/09/2014 and it is very unfortunate situation troubling the whole trade and Industry which is a very big part of the total tax paying fraternity.
Some time back, often I use to hear about Globalisation during meetings and personal interviews that, how the World is becoming a smaller place, now I believe that it has indeed became so in the current scenario when it is difficult for any professional or a businessman to work only locally without having or soon to have some kind of business or professional international opportunity.
The Income Tax Act 1961(‘The Act’) as amended by Finance Act 2012 brought specified domestic related party transactions (SDT) within its fold with effect from FY 2012-13 vide section 93BA of the Act and admittedly as with any new legislation, there were very few early adopters. SDT provisions principally have impact in two ways, firstly […]
the FM may not have been able to appreciate the views of the tax payer who funds the country and listened only to the bureaucrats who continue to empower themselves with more weapons of extortion and threat. Hope that in the committee which would look at tax reforms, the professionals of
Representation made by ICAI – seeking extension of due date of filing return of income along with the date of furnishing audit report. – (18-09-2014) ICAI has, through, a representation dated 15.09.2014 brought to the attention of Chairman, CBDT the concerns of the taxpayers on account of non extension of due date of filing return […]
Learn the dos and donts of tax payment and challan correction mechanism. Find out the types of challans to be used for different tax payments and the mandatory details required for filling out a challan.
As per sub-section (1) of section 282, the notice is to be served on the person named therein either by post or as if it was a summons issued by Court under the Code of Civil Procedure, 1908 (V of 1908). The relevant provision for effecting of service by different modes are contained in rules 17, 19 and 20 of Order V of CPC. Rules 17, 19 and 20
Automatic Form 16 cum Income Tax Calculator for Salaried Person in excel format for Financial year 2014-15 / Assessment Year 2015-16. The Calculator calculates Automatically calculates your tax liability with surcharge and marginal relief (if any). Calculator have inbuilt capability to generates Your Form 16 alongwith Form 12BA. The Calculator further incorporated ₹ symbol at all the places where amounts are to be filled.
The Assessee was a significant shareholder in a company – The company sold building to shareholder on credit – Department treated it as ‘loan’ or ‘advance’ for invoking Section 2(22)(e). CIT(A) upheld the addition on the ground that since the unpaid purchase price has not been paid
