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Income Tax : The new Income Tax Bill consolidates provisions for non-profits, covering registration, taxation, compliance, and capital gains ru...
Income Tax : The Income-Tax Bill 2025 simplifies house property income taxation, reducing complexity while maintaining key provisions for bette...
Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Explore why Cost Accountants (CMAs) should be included in the definition of "Accountant" under the Income Tax Bill 2025 for a comp...
Income Tax : Understand the New Tax Regime 2025 with updated slabs, deductions, and exemptions. Learn how to save tax and choose the best regim...
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 : Karnataka High Court dismisses Revenue’s appeal in PCIT Vs Ennoble Construction, ruling on transport creditors' tax liability ...
Income Tax : Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and ...
Income Tax : Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA ...
Income Tax : Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and h...
Income Tax : Delhi High Court held that Freight Logistic Support Service provided by appellant are not in the nature of Fee for Technical Servi...
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 ...
Under the DTC Bill, the annual deduction has been raised to Rs. 1.5 lakh. From the bill It appears that investments in PPF, PF, NPS, pure life insurance policies, savings schemes as notified by the government are eligible for this deduction under EEE category.
While senior citizens will continue to enjoy greater tax exemption, women tax payers will lose their special status under the proposed Direct Taxes Code. The Bill proposes to raise the tax exemption limit for senior citizens above 65 years to Rs 2.5 lakh per annum from Rs 2.4 lakh at present.
The proposed Direct Taxes Code (DTC), which will replace the archaic Income Tax Act, is bulkier than the existing law, as the new legislation also seeks to substitute the current Wealth Tax Act. While the proposed DTC has 319 sections and 22 schedules, there are 298 sections and 14 schedules in the existing act.
With a view to avoiding a dispute in respect of assessment of income-tax liability in the case of a non-resident (and also specified categories of residents), a Scheme of Advance Ruling was incorporated in Chapter XIX-B of the Income-tax Act. The Authority for Advance Rulings ( AAR ) pronounces rulings on the applications of the non-resident/residents submitted in the prescribed form following prescribed procedure and such rulings are binding both on the applicant and the income-tax department.
Government of Jammu & Kashmir is levying tax of Rs.2000.00 per day on All India Tourist Vehicles. The vehicles carrying passengers/pilgrims for Mata Vaishno Devi are however being charged the tax of Rs.2000.00 for a period of 3 days. Similarly, vehicles carrying passengers/pilgrims for Amarnath Yatra are being charged tax of Rs.2000.00 for a period of seven days.
Levying of capitation fee is against the national policy as well as rulings of the Apex Court. A legislative proposal namely ‘The Prohibition of Unfair Practices in Technical Educational Institutions, Medical Educational Institutions and Universities Bill, 2010 has been circulated in Parliament.
A protocol amending the existing Double Taxation Avoidance Agreement was signed here today between Republic of India and Swiss Federal Council. The Signing ceremony was held at the Ministry of Finance, North Block, New Delhi. The protocol was signed for the Republic of India by Shri Pranab Mukherjee, Finance Minister while the Swiss Federal Council Foreign Minister, Ms. Micheline Calmy-Rey signed for the other side.
The Supreme Court has declared that an application for settlement of an income tax case cannot be revised and the settlement commission has to go by the original application and annexure filed in the prescribed form. Revision of annexure tantamount to revision of application and cannot be allowed under the scheme of settlement in Chapter XIX-A of the Income Tax Act,
The government will lose over Rs 53,000 crore (Rs 530 billion) in tax revenue on account of the increase in exemption limits and tweaking of slabs in the Direct Taxes Code Bill, which will come into effect from April 1, 2012, a year behind the previous deadline.
a candidate desirous to seek verification of marks in any subject(s) of June, 2010 examination result is required to submit an application written on a plain paper in his/her own handwriting, mentioning his/her (i) Name; (ii) Student Registration Number; (iii) Stage of Examination and Roll No.; (iv) Name(s) of Subject(s) in which Verification of Marks is sought; (v) Complete Postal Address with Pin Code; and (vi) details of payment made, to Sr. Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201 309. Specimen of application form is also displayed at link http://www.icsi.edu/portals/0/announce_vom.doc for ready reference.
