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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 : 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 : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
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 : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : ITAT Pune remands appeal for reconsideration, citing leniency for a senior citizen taxpayer's advance tax shortfall. Case to be de...
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...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
ITAT considered two issues on this aspect. Firstly, whether PCIT rightly exercised its revisional jurisdiction and secondly whether order u/s 263 was passed on merits regarding to the net foreign exchange gain.
The Delhi High Court rejects the regularization plea of Kanchanjunga building employees, upholding the Industrial Tribunal’s decision on employer-employee relationship.
During the pendency of assessment proceedings assessee died and notice u/s. 142(1) dated 12.03.2022 has been issued to legal heir/representative of the assessee as per provisions u/s. 159.
Mechanical approval under Section 153D invalidates assessment orders, per ITAT Delhi in Kavita Jain vs DCIT. Analysis of procedural lapses and judicial precedents.
Madhya Pradesh High Court directs refund with interest to Birla Corporation Limited, ruling on delays in tax refunds and TRACES Portal issues.
Madhya Pradesh High Court reviews the reassessment notice issued under Section 148 of the Income Tax Act in the Susheel Kumar Shankarlal case.
Assessee could not have been subjected to additions in case of search/survey operations merely on basis of statement recorded under section 132(4) unless and until some corroborative evidence was found in support of such admission.
The company contended that the satisfaction note required to initiate the assessment under section 153C was recorded by AO only on January 18, 2021, making the search year AY 2021-22.
In response to the notice under Section 263, assessee argued that the issue had already been examined during reassessment proceedings and that the AO had taken a plausible legal view.
Learn how to claim tax deductions under Section 80CCD for NPS contributions. Explore limits for employees, self-employed, and employers, plus additional benefits.
