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Income Tax : The Income-tax Bill, 2025 has been tabled in Parliament on 13th February 2025, marking a significant step toward simplifying the l...
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 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 : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : ITAT Bangalore sets aside CIT(A) order in Section 54 exemption case due to lack of documents. The case is remanded for fresh revie...
Income Tax : ITAT Pune restores Mauli Nagari's tax case to CIT(A)-NFAC due to non-compliance issues. Read about penalties, unexplained cash dep...
Income Tax : ITAT Lucknow held that delay of 4 days erroneously calculated as delay of 551 days by CIT(A). Accordingly, directed CIT(A) to cons...
Income Tax : Explore the ITAT Jaipur decision in Mujmmeel Vs ACIT, examining Section 263 order invoking unexplained investments and its implica...
Income Tax : ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation d...
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...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
The ITAT Delhi held where a taxpayer engaged in rendering advertising and related services to its Associated Enterprises (AEs) is also acting as an intermediary between the AEs and the third party vendor to rent advertisement space from the vendor, costs recovered by the taxpayer from the AEs for such renting and then passed on to the vendors (pass-through costs) would not be value adding costs for the taxpayer and would, therefore, not be taken into account for computing net profit margin (Operating Profit / Total Cost) of the taxpayer for applying the Transactional Net Margin Method (TNMM).
In a move that is certain to invite charges of political witch-hunt, the income-tax department has opened investigations into 15 companies owned by rebel Congress MP Jagan Mohan Reddy, including Bharti Cements and Jagruti Publications, for allegedly evading tax.
The Supreme Court (SC) stated last week that courts should not dismiss petitions of revenue authorities only on the ground of delay, without going into the merits of the case. In this case, the Commissioner of Income Tax appealed to the SC against th
The Union Revenue Secretary, Mr Sunil Mitra, said here on Tuesday that domestic tax policy would gradually move towards treaty override and introduce measures against aggressive tax planning and tax avoidance. Addressing a FICCI function here, Mr Mitra sought greater responsibility from corporate sector including foreign companies on the issues of illicit fund outflow on account of mis-pricing and misuse of offshore financial centres (OFC).
Chennai, December 15: The ruling DMK in Tamil Nadu suffered a big jolt on Wednesday as CBI teams probing the spectrum scam raided 27 places associated with people and organisations closely identified with former Union communication minister A. Raja a
The government has requested the Supreme Court to waive its 1 per cent commission for letting it withdraw Rs 2,500 crore, which has been deposited in the court by telecom firm Vodafone International Holdings. Instead, it has requested the court to di
The Central Board of Direct Taxes has asked a committee to probe commercial transactions mentioned in some of the tapped conversations of corporate lobbyist Niira Radia. The committee headed by a Director-General in charge of Investigation, Delhi, will probe a transaction between Tata Realty and Infrastructure Ltd (TRIL), a Tata group firm, and real estate firm Unitech, in 2007, among others, finance ministry sources said.
Section 80-IA(4)(iii) of the Income-tax Act, 1961 – Deductions – Profits and gains from Industrial Infrastructure Undertakings, etc. – List of notified Industrial Parks from 16-9-2010 till date
The ITAT held that the payments for services rendered with regard to reassembling and recommissioning of machinery in India under the Indian Tax Laws (ITL) and the India-Italy Double Taxation Avoidance Agreement (DTAA), would be excluded from fees for technical services (FTS) under the DTAA since the same were in the nature of business profits.
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