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Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
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 : ITAT Bangalore remands case concerning cash deposits during demonetization, directing the AO to re-assess the addition u/s 69A aft...
Income Tax : ITAT Delhi dismisses Revenue's appeal in ACIT vs Hindukush Construction Pvt. Ltd. (AY 2016-17) due to low tax effect under CBDT Ci...
Income Tax : ITAT Mumbai allows Hotel Deepak's appeal, holding that a survey statement u/s 133A can't be the sole basis for income addition wh...
Income Tax : In the matter aforementioned ITAT deleted addition made on account of Client Code Modification after observing that assessee utili...
Income Tax : ITAT Mumbai rules that a Section 143(1) adjustment becomes infructuous once a regular assessment under Section 143(3) is complete...
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...
ITAT Delhi quashes Section 271(1)(b) penalty against Charu Modi Bhartia, citing lack of evidence on alleged foreign bank account ownership with HSBC Geneva.
For property owners seeking to commercialize their land, Joint Development Agreements (JDA) are one of the most sought out options. These agreements have their own set of concerns, particularly regarding taxation of capital gains. This essay aims to present an analysis concerning capital gains tax with respect to Joint Development Agreements. 1. Exemption Under Section […]
Learn how to claim a TDS refund for a missed ITR filing. Follow steps to include missed income in current returns and claim TDS credits without hassle.
Summary: Section 194T, introduced by the Finance (No.2) Act 2024, mandates a 10% tax deduction at source (TDS) on payments like salary, remuneration, bonus, commission, or interest exceeding ₹20,000 annually made by firms to their partners. The TDS applies at the earlier of crediting the sum to the partner’s account or making the payment. Firms […]
Learn how Indian taxpayers can claim Foreign Tax Credit to avoid double taxation on overseas income. Steps, eligibility, and documentation requirements explained.
Learn about the income tax exemption on sumptuary allowance for judges and its treatment for other judicial officers under Indian tax law.
Assessee being a real estate developer, allotted 10060 equity shares as per the fair market value (FMV) computed in accordance with Sec.56(2)(viib) read with Rule 11U / 11UA.
Karnataka High Court held that proceedings initiated against deceased person are null and void and the same cannot be continued against his/her legal representative. Accordingly, order of Single Judge not interfered.
ITAT Mumbai held that addition towards bogus purchases unwarranted as GP rate on sale of alleged bogus purchases is more than the GP rate of other purchases. Accordingly, appeal allowed the addition deleted.
Kerala High Court held that revisionary proceedings by PCIT u/s. 263 rightly exercised since claim of provision for bad and doubtful debts was assumed by assessing officer to be correct without adequate enquiry. Accordingly, appeal dismissed.
