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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...
The billions of rupees stuck in courts and rising tax litigation have invited the attention of finance minister Pranab Mukherjee as he pushes through a major reform in the country’s tax regime.
It will soon be easier to get specific details of Indians having unaccounted wealth in secret Swiss bank accounts. The Union Cabinet is likely to clear on Thursday, the amended Double Taxation Avoidance Agreement (DTAA) with Switzerland, official sources told to reporters.
The finance minister has set up two panels, one each for direct and indirect taxes, to draw up a road map to reduce rising litigation, asking them to submit a report within a month.
Highlights of E- Filing Season Assessment Year 2010-11/ Financial Year 2009-2010 (up to 04/08/2010). Please see updated “Quick Statistics” for E-Filing of Income Tax Returns upto 4th August 2010.
Net direct tax collections during first four months of the present fiscal (up to July 2010) stood at Rs.85,647 crore, up from Rs.73,990 crore in the same period last fiscal, registering a growth of 15.75 percent. Growth in Corporate Income Tax was 20.95 percent (Rs.51,627 crore as against Rs.42,685 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 8.51 percent (Rs.33,940 crore as against Rs.31,279 crore).
Vodafone’s senior counsel, Harish Salve, today began arguments on behalf of the company on its plea against the income tax department in the Hutchison case. The arguments could continue for some weeks. The company had moved court on a showcause notice from the I-T Department, quantifying a tax liability of Rs 12,000 crore (Rs 120 billion), which could include a penalty, on account of Vodafone not deducting tax from the payment made to Hutchison for acquiring the latter’s stake in an Indian telecom venture.
India and Argentina have initiated a co-operative agreement to provide mutual assistance in customs operations and are to start negotiations regarding a Tax Information Exchange Agreement (“TIEA”).
A computer software when put into a media and sold, it becomes goods like any other audio cassette or painting on canvass or book. The amount paid by the assessee towards purchase of IXOS-eCON for R/3 50 users cannot be treated as payment of royalty taxable in India under Article 12 of DTAA between India and Singapore. Therefore, the assessee, in our opinion, is not liable to deduct tax at source.
Notification No. 68 /2010-Income Tax In exercise of the powers conferred by clause (c) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “Archery Association of India”, New Delhi, as the association, for the purposes of said clause for the assessment years 2010-11 to 2012-2013.
Bombay High Court on Wednesday began hearing on Vodafone’s plea challenging income-tax department’s tax claim of $2 billion on the telecos’ buyout of Hutchison’s stake in Hutchison-Essar in 2007 for $11 billion.
