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Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
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 : 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 Mumbai held that interest income earned by the assessee on account of surplus funds placed in FD is eligible for deduction under section 10AA of the Income Tax Act.
A perpetual bond, also known as a ‘consol bond’ or ‘perp’. It is a fixed income security with no maturity date. This type of bond is often considered a type of equity, rather than debt. Perpetual bond cash flows are, therefore, those of a perpetuity.
income tax filing experience in India. Learn about the significance of accurate records, compliance with tax laws, and maximizing benefits. Streamline your tax filing process, avoid penalties, and support your claims with proper documentation.
Understanding who needs accounts audited under Section 44AB of the Income Tax Act, 1961. Explore the criteria for businesses and professionals, recent amendments, and exemptions. Get insights into the obligations, audit thresholds, and implications of non-compliance. Stay informed about changes in audit requirements for different entities.
Explore the taxation of LLP profits and partners withdrawals, addressing concerns about double taxation. Learn how LLPs are taxed as separate entities, paying tax on profits at the entity level. Discover that partners can withdraw profits without facing double taxation, as the LLPs tax payment covers the individual taxation of partners share of income. Gain insights into the taxation framework, allowing informed decisions on managing LLP profits and withdrawals.
Filing income tax returns is a vital responsibility for every taxpayer in India. It ensures compliance with tax laws and contributes to nations development
Capital gains tax is an essential aspect of taxation in India, applicable when you sell certain assets and make a profit. However, there are several legitimate strategies you can employ to save on capital gains tax
Delhi High Court held that case can duly be transferred from Jurisdictional Assessing Officer to Central Circle by way of passing order under section 127 of the Income Tax Act.
ITAT, held that if assessee voluntarily declares income during a survey and later includes it in their regular income tax return, no penalty under Section 271(1)(c) can be imposed.
ITAT Pune allows vehicle expenses for cars used by director employees as business expenses in the case of M/s. Pushpak Steel Industries Pvt. Ltd. The decision emphasizes that personal use by directors doesn’t classify as non-business use, citing relevant precedents. Gain insights into the case, the issues addressed, and the ITAT’s rationale. Stay informed on tax matters.
