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Income Tax : Overview of key income tax changes for non-residents, charitable trusts, and individuals, including SEP rules, fund management, an...
Income Tax : Budget 2025 focuses on economic growth, tax reforms, and infrastructure. Key changes include new tax rates, financial sector refor...
Income Tax : Explore tax benefits available for parents under the Income Tax Act, including education, health insurance, and deductions for med...
Income Tax : Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligib...
Income Tax : Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : DCIT Vs K Raheja IT Park (Hyderabad) Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai dismissed appeals filed by...
Income Tax : Delhi High Court sets aside ₹14.63 crore penalty on Property Plus Realtors, ruling the order was issued beyond the statutory lim...
Income Tax : Delhi High Court dismisses appeal in PCIT vs Thapar Homes Ltd, ruling penalty under Section 271E was time-barred under Section 275...
Income Tax : ITAT Bangalore ruled on the taxability of Transferable Development Rights (TDR) in the case of Smt. Sowmya Sathyan vs. ITO, clarif...
Income Tax : ITAT Pune ruled on capital gains in Smt. Vimal Baburao Jadhav Vs ITO. The Tribunal held Section 50C inapplicable, recalculating LT...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
ITAT Ahmedabad held that addition under section 68 towards cash credits not justified since evidences clearly demonstrates that cash deposits and credit entries are through agricultural income. Accordingly, addition deleted and appeal allowed.
Held that no opportunity was allowed to the assessee by the Ld. CIT(A) (NFAC) before passing this ex-parte order. Thus, the order passed by the CIT(A) is in gross violation to the principle of natural justice.
Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unexpected tax demands for taxpayers.
Delhi High Court rules RPM as the best method for ALP in Burberry India transactions. Rejects Revenue’s AMP-based objections, providing clarity on transfer pricing.
ICAI proposes tax reforms for simplification, litigation reduction, and compliance ease in Income-tax Act and Pre-Budget Memorandum 2025.
ITAT Surat held that addition under section 68 of the Income Tax Act deleted since appellant has satisfactorily explained the nature and source of the credit. Accordingly, appeal allowed and addition deleted.
ITAT Delhi held that the interest on compensation or on enhanced compensation cannot be considered as compensation and shall be chargeable to tax under the head income from other sources. Accordingly, appeal dismissed.
ITAT Mumbai held that reopening of assessment under section 148 of the Income Tax Act beyond 3 years liable to be quashed as escaped income is less than INR 50,00,000. Thus, notice issued u/s. 148 quashed.
Search action was carried out on residential premises of assessee. Several incriminating documents were found and seized. Assessee was issued with notice to file Income Tax Return and seeking details for seven assessment years within 5 days.
Understand TDS on partner payments under Sections 194T, 40(b), and 28(v). Learn limits, deductions, and taxability of salaries, commissions, and interest in partnership firms.
