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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
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 : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
Income Tax : ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Read the analysis of SPI Global US vs ACIT (ITAT Delhi) case where sub-contracting charges taxability under India-USA DTAA was contested. Learn about the make available clause and the final decision.
Learn about the judgment of the Jammu & Kashmir and Ladakh High Court in the case of PCIT vs J&K Bank Ltd., where the court ruled that a bank is not obligated to deduct TDS from the interest paid to Jammu Development Authority on fixed deposits
Learn about the Gujarat High Court’s decision in Anokhi Realty Private Limited vs ITO, where it quashed an income tax reassessment notice issued to a non-existent entity. Analysis of amalgamation’s impact on tax assessment.
Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents.
In an effort to enhance tax compliance and streamline reporting processes, the Income Tax Department recently sent out an SMS to individuals, addressing concerns related to certain transactions reported in Form 60/61 for the fiscal year 2021-22. The message has sparked queries and curiosity among taxpayers. In response, the Income Tax Department has issued a […]
In Pawan Kumar Agarwal vs CIT case, ITAT Kolkata rules that concessional tax rate under section 115E is not applicable when money is deposited in Indian rupees, not foreign exchange.
ITAT clarifies: Section 80G recognition needs Trust’s 12AB registration. Unregistered trusts ineligible for 80G recognition.
ITAT held that entries in the books of accounts do not dictate tax treatment. As long as expenses were allowable under relevant sections of Income Tax Act, appellant was entitled to claim them.
Analysis of the ITAT Delhi order in Radial International vs DCIT case. ITAT directs AO to re-examine PF payment disallowance due to holiday on the due date.
Analysis of ITAT Ahmedabad’s decision in Mansha Textiles vs ITO case. ITAT allows interest deduction u/s 24(b) when income is receivable and approved.
