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Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
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 : 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 : 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 : 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 : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
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 : 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...
ITAT Delhi held that once a matter has been considered and decided by the ld.CIT(A), the very same issue cannot be the subject matter of consideration at all by PCIT in the revision proceedings either on substantive basis or on protective basis. Accordingly, revision order quashed.
Explore the tax implications of Employee Stock Option Plans (ESOP), Employee Stock Purchase Plans (ESPP), and Restricted Stock Units (RSU) received from Indian or foreign companies under the Income Tax Act, 1961. Understand the treatment, valuation, and disclosure requirements for unlisted shares in the context of taxation. Stay informed to ensure accurate filing of income tax returns and compliance with regulatory obligations.
ITAT Indore held that excess stock was not kept separately and was part of business stock cannot be treated as deemed income u/s 69 or 69B of the Income Tax Act. Accordingly, provisions of section 115BBE of the Income Tax Act are not applicable on the surrendered income on account of excess stock found during the course of search.
ITAT Mumbai held that tax authorities cannot assessee share premium amount under section 68 of the Income Tax Act. Accordingly, addition made u/s 68 is liable to be deleted.
Delhi High Court dismisses the Income Tax Departments appeal against Meera Gupta for Assessment Years 2009-10, 2011-12 & 2013-14, affirming SC ruling.
Delhi HC sets aside reassessment order against Riya Gangwani for AY 2019-20, passed without considering the replies. Liberty given to AO for a fresh order.
Delhi HC quashed an Income Tax notice issued on the mistaken belief of property ownership in Mansi Garg & Ors Vs CIT directing correction.
Income, expenditure, and tax payment history of BCCI over last five years. Understand BCCI’s financial data, income tax payments, and details about its status as one of the richest sports bodies in world.
Explore the adjustments made to Tax Collection at Source (TCS) rates for overseas tour packages and funds remitted Outside India. Learn about the changes in TCS rates, their implementation timeline, and the list of businesses where TCS is collected under the Income Tax Act, 1961.
Indian Government’s recent data on corporate tax collection for the last five years and the revenue forgone due to the reduction of corporate tax. Learn about the impact of reducing the Corporate Surcharge and the government’s calculations regarding the revenue loss.
