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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...
The All India Cost & Management Accountants Association urges the Finance Minister to permanently extend the ITR filing due-date from July 31st to August 31st for better taxpayer convenience.
Explore the admissibility of House Rent Allowance (HRA) paid to parents or spouse under Section 10(13A) of the Income Tax Act. Analysis of judicial rulings and essential evidence for successful exemption claims.
ITAT Delhi held that presumption u/s. 132(4A) of the Income Tax Act is only against the person in whose possession the search material is found and not against any other person. Addition based on dumb documents without corroborative evidence is unsustainable in law.
ITAT Delhi held that the payments received by the assessee in view of architectural design services rendered to its clients in India are not chargeable to tax as FTS in terms of Article 12(4) of the India-Singapore DTAA.
ITAT Ahmedabad held that interest income earned by depositing surplus grants in a particular mode as per the directions of the State Government is also treated as part of the grants and hence it cannot be treated as income of the assessee.
Discover the benefits of Corporate NPS for tax planning, enabling multiple retirement avenues and a diversified superannuation portfolio. Learn how employers can provide this option to their employees.
Hurry! Only 3 days left to file your income tax return for FY 2022-2023. Avoid late fees. Learn about tax exemptions and deductions to reduce taxable income.
Learn about the ITAT Chennai verdict in Palaniappa Charitable Vs ITO where income from commercial activities carried out by the trust was not considered exempted from income tax.
The Patna High Court dismisses the appeal filed by the Income Tax Department against Indian Oil Corporation Ltd. The court deems four years as a reasonable time of limitation for an order under Section 201 of the Income Tax Act.
The Bombay High Court upheld the income tax deduction under Section 80IA(4)(iii) for an Industrial Park project. The court considered the approval granted by the Ministry of Commerce and Industry and rejected the AO’s disallowance based on an erroneous report.
