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Income Tax : Understand the updated TDS rates for FY 2025-26 (AY 2026-27). Comprehensive chart covering salary, interest, dividends, rent, and ...
Income Tax : Budget 2025 revises income tax slabs, making ₹4,00,000 tax-free. New rates range up to 30% for income above ₹24,00,000. Key de...
Income Tax : Income tax bill, 2025 aims to replace Income Tax Act, 1961, simplifying tax laws. Questions arise about its impact on revenue, lit...
Income Tax : Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens....
Income Tax : CIT International Tax- 1 Vs Expeditors International of Washington INC (Delhi High Court); ITA 202/2022; Dated: 13/02/2025 In a si...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
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 : Bombay HC rules in CIT vs. Nitish Chordia that agricultural land distance must be measured by road, not aerial view, impacting cap...
Income Tax : ITAT Surat rules that for capital gains tax on agricultural land, municipal limits are determined by notification in force at the...
Income Tax : ITAT remands case regarding taxability of interest income earned before business commencement, citing need for fresh adjudication ...
Income Tax : Bombay High Court rules reassessment proceedings against Alok Industries invalid post-resolution plan approval under IBC, citing S...
Income Tax : ITAT Jaipur dismisses Bansi Lal's appeal, upholding additions for unexplained bank deposits and interest income. Tribunal cites l...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
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...
Clause (4) of Sec. 54 clearly mention that the amount of net consideration which is not appropriated by the assessee towards the construction of the new asset before the date of furnishing the return of income u/s. 139, shall be deposited by him before furnishing such return (such deposit being made in any case not later than the due date applicable in the case of the assessee for furnishing the return of income under sub section (1) of Sec. 139).
After hearing both the parties, it appears that the A.O. has passed the assessment order under Section 143(3) of the Act, after examining the entire material. The issue relating to the cash credit was also examined by the Tribunal
he exemption u/s 54 was not allowed as what was transferred is a residential unit with 8ft x 8 ft dimensions and holding that such structure cannot be treated as building. However, exemption u/s 54F was allowed to the extent of amount spent within six months from the date of transfer of the asset.
Notification No. 6-Income Tax The President is pleased to accept the technical resignation of Shri Rahul P.R., (100DJ), Asst. DIT (prosecutions), Kochi from Indian Revenue Service with effect from 20.12.2013.
The CBDT has vide Order No. 69 of 2014 dated 16.05.2014 ordered the postings of 47 officers of the grade of Commissioner/ Director of Income-tax.These officers were earlier promoted vide order no. 32 of 2014 dated 20th February, 2014. Download Order No. 69 of 2014 dated 16.05.2014
ITAT Delhi ruling in Divya Devi vs. ACIT: Jewellery rebate as per CBDT’s Instruction No. 1916. Download full text of the order. Date: 16-05-2014.
Notification No. 26/2014-Income Tax CBDT has revised PAN Application form 49A and 49AA wef from 16.05.2014 vide its notification no. 26/2014 , Dated- 16-5-2014. Revised Form 49A and 49AA provides option to get printed Mothers Name on PAN card. So those applying for New PAN card or for revised PAN card have the option to get printed on their PAN card printed the name of his/her mother.
2. The statutory function under section 264 of the Act performed by the CIT is required to be reported by the CIT and also appraised by the supervisory Officers. Therefore, it has been decided to issue the following guidelines to be complied forthwith in respect of orders passed under section 264 of the Act:- a) The CIT shall prepare a brief of the orders passed under section 264 of the Act and report the same to the Principal Chief Commissioner of Income Tax/ Chief Commissioner of Income Tax (CCIT) in the monthly DO letter along with a copy of such order.
Correct Factual Position and the Circumstances that led to the Government’s Proposal to Withdraw from the Conciliation Measures Initiated Earlier with Vodafone International Holdings B.V.(Vodafone)
Forum Chaired by Dr. Parthasarathi Shome for Exchange of Views Between Industry Groups and Government on Tax Related Issues Identifies 29 Issues in Direct Taxes and 47 Issues in Indirect Taxes that Merited Removal of the Obstacles and Issue of Clarifications or Amendment of Procedures. The Finance Minister Shri P. Chidambaram, in his Press Statement […]
