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Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
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Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...
Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
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...
Notification No. 80/2009 – Income Tax In exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue, number S.O. 3458, dated the 2nd September, 2006, and published in the Gazette of India, Part II, section
The Income Tax (I-T) Department has issued a fresh notice to realty major DLF even as it’s appeal against an additional tax liability imposed on it by the I-T Department is being heard. The demand for additional tax payment first came after the Institute of Chartered Accountants of India (ICAI), which sets auditing standards, revised its accounting norms during 2005-06.
Whether during the previous years relevant to assessment years 2008-09 and 2009-10, the applicant, in the stated facts and circumstances, had a Permanent Establishment in India under Article 5 of India-Switzerland Double Taxation Avoidance Agreement in relation to activity of charter of vessels for transporting cargoes from Indian ports to outside India ?
No doubt that the possession of three currency notes with the assessee has raised a presumption that the amount stated on those currency notes was paid by the assessee to the said Shri Shankar Lai. However, the same was a rebuttable presumption. The assessee has explained that these payments were made by the assessee subsequent to the date of survey
Admittedly, it is a case of sale of shares. In this regard, share purchase agreement was entered into on 27.1.2005 and final delivery of shares took place on 1/15.4.2005. In the share purchase agreement, detailed provisions were made restricting the vendors from exercising various rights in relation to shares. Revenues’ main contention is that on account of substantial extinguishment of rights in pursuance to share purchase agreement
Parties are heard arid their rival submissions considered. The following facts are not in dispute: a) the identity of the donor is not in doubt; b) gift is by a declaration deed; c) donor has given an affidavit affirming the making of the gift; d) there is a confirmation through post of gift per Demand Draft; e) affirmation of the assessee in examination on oath recorded by A.0 f) affirmation of the donor in examination on oath recorded;
Searches conducted by the Income Department are important means for unearthing black money. However, under the scheme before insertion of special procedure for assessment of search cases, valuable time is lost in trying to relate the undisclosed incomes to the different years. Tax evaders generally manage to divert the focus to procedural and legal issues and often invent new evidence to explain undisclosed income. By the time search r
Notification No. 81/2009 – Income Tax Direct Supply Contract – 24 Hawk Mk 132 AJT ac, Trg Aids, Fixed Spares, Flyaway packs, Supplementary Sparcs, Ferry of aircraft etc. Interim Flying Training of IAF pilots, training of a crew / maintenance crew and ferry of aircraft from UK to India, The total value of contract is £ 479,718,664. 00 (Air HQ/S 96963/1/1/Proj( AJT)/Direct Supply Contract dated 26 Mar 04];
To enable you to ascertain the extent of matching of your TDS / TCS claims in the Income Tax Return filed by you with the TDS / TCS reported by the tax Deductors /Collectors. In case the matching is 100%, you may be assured of accurate credit and quicker processing of the I-T Return.
Notification No. 79/2009 – Income Tax It is hereby notified for general information that the organization Vittal Mallya Scientific Research Foundation, Bangalore, has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2007-08 onwards
