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Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...
Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
In the case of Tata Consultancy Services Ltd. vs DCIT, the Bombay High Court examines the requirement of tangible material for reopening an assessment. This analysis explores the claim of deduction on payment made to settle a class action suit and the court’s decision
Read the full text of the judgment/order of the Bombay High Court in the case of Oerlikon Balzers Coating India Pvt. Ltd. vs Union of India. The court strikes down a condition in DTVSV, benefiting the assessee.
Ministry of Finance Important changes w.r.t Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS) No change in rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs. 7 lakh per individual per annum Government gives more time for implementation […]
No change in rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs. 7 lakh per individual per annum. Government gives more time for implementation of revised TCS rates and for inclusion of credit card payments in LRS. Increased TCS rates to apply from 1st October, 2023
Understanding the provisions and implications associated with income under the head ‘Salaries’ is crucial for both taxpayers and tax authorities. It enables individuals to effectively comply with their tax obligations while ensuring a fair and equitable assessment of taxable income.
Dive into the concept of presumptive taxation in India and explore its benefits for small businesses. Learn about the provisions of Section 44AD, 44ADA, and 44AE, and their applicability. Understand the advantages of opting for presumptive taxation and its impact on tax audits and bookkeeping requirements.
Dividend taxation can lead to double taxation, as the profits are already taxed at the company level. This article explores the concept of dividend taxation under the Income Tax Act of India and compares it with global practices. It raises questions about the need for exemptions and discusses the potential impact on investments and economic growth.
ITAT Delhi held that the receipts from centralised service income are not taxable as Fees for Technical Services (FTS)/ Fees for included Services (FIS) under Article 12(4)(a) of India-USA DTAA.
ITAT Mumbai’s decision in case of DCIT vs KEC International Limited, where a 0.6% arm’s length rate was established for corporate guarantee fees, influencing future transfer pricing adjustments.
Explore landmark ruling in Citibank N.A Vs S.K. Ojha case by Bombay High Court, confirming that post-Kar Vivad Samadhan Scheme determination, the Assessing Officer lacks jurisdiction to reopen tax assessments under Section 143 of Income Tax Act. Unearth key insights from this case setting a precedent for businesses under KVSS.
