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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 : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
Unravel Pravinchandra A Shah Vs Union of India case where a notice issued under Section 148 of Income Tax Act to a deceased person was ruled invalid by Gujarat HC
Explore the case Dariyav Singh Vs ITO. Understand why the Assessing Officer was deemed unfit to rectify the Principal CIT’s mistake in form 5 under VSVS Scheme.
Read about the recent Madras High Court ruling that denies Input Tax Credit (ITC) if tax hasn’t been paid to the government. Analysis and implications for businesses dealing with suppliers with cancelled GST registrations.
Learn about the Young Professional Scheme introduced by the Income Tax Department to enhance departmental representation in ITAT for tax litigations. Find details and deployment regions.
In present facts of the case, it was held that the services rendered were in the nature of advisory services as per the terms of the agreement, therefore these services cannot be the part of Fees for Technical Services (FTS) under Article 13 of India – UK DTAA.
Article aims to shed light on penalties, deadlines, and implications of late Income Tax Return filing, urging taxpayers to fulfill their obligations promptly to avoid unnecessary financial burdens.
The Income Tax Department records a new milestone with over 6.77 crore ITRs filed for AY 2023-24 by July 31, 2023, showing a 16.1% YoY growth.
In present facts of the case, the Hon’ble Tribunal while deducting the additions made by Ld. AO for repair and maintenance, it was observed that if the replacement is of a baby part only, then the same cannot be considered to be a capital expenditure.
In present facts of the case, the Hon’ble High Court granted refund to the petitioner along with Interest from year 1988 for the cash which was seized without any corroboration and the said cash was also duly reflected in Income Tax Returns.
If a person is eligible to obtain an Aadhar Card, it is mandatory to link it with the PAN card. Although, NRIs are not required to obtain an Aadhar and accordingly, not required to link their PAN with Aadhar, but the Income Tax Department has mandated that NRIs have to update the income tax portal on their residential status as ‘Non Residents’.
