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Income Tax : Kedar Jagdish Mankar Vs ACIT (ITAT Pune) Adv. Sachin P. Kumar successfully represented his client in Foreign Tax Credit dispute be...
Income Tax : Union Budget 2025 overlooked critical tax compliance issues, including TDS on partners’ salary, delays in appeals, marginal reli...
Income Tax : The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation ...
Income Tax : Learn how to achieve tax-free rental income of ₹20,00,000 by leveraging deductions under Section 24 of the Income Tax Act, 1961,...
Income Tax : Request tax order implementation with Income Tax e-Filing portal’s new feature. Raise Request for Order Giving Effect online to ...
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 Mumbai invalidates reassessment in Ramlal G Suthar vs. ITO due to improper approval under Section 151(ii) of the Income-tax A...
Income Tax : Bombay High Court quashes reassessment notices issued to a non-existent entity post-merger in City Corporation Ltd vs ACIT, citing...
Income Tax : Bombay High Court addresses Hiralal Malu’s plea for the return of seized jewelry, highlighting disputes between the tax departme...
Income Tax : ITAT Mumbai ruled on TVF Fund Ltd’s appeal regarding tax loss set-off under DTAA. Key issues include carry-forward losses, taxab...
Income Tax : Orissa HC examines TDS prosecution in D.N. Homes case, focusing on COVID-19 delays and reasonable cause under Section 278AA of the...
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...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
NRI taxation under the Indian Income Tax Act, of 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians.
Release of Direct Tax Statistics The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated upto […]
Discover insights into Section 148A of the Income Tax Act, 1961, addressing notices for non-furnishing of income tax return, report, or statement. Stay informed about the legal implications, penalties, and important case laws. Source: Finance Act 2021, Legal Analysis.
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
Unlock the secrets of filing Income Tax Returns for the last 3 years. Understand Section 139 of the Income Tax Act, 1961. Explore the opportunity provided by Section 139 (8A) to file pending ITRs. Know the limitations and exclusions. Get answers to FAQs about filing updated tax returns. Stay informed to avoid penalties and financial consequences. Source: Income Tax Act, 1961.
Explore the case law of ITO vs. Shri R.K. Gupta (ITAT Delhi) regarding filing returns in response to notice under section 148. Understand the importance of proper compliance with the notice for reassessment.
Explore the intricacies of the United Kingdoms tax system, vital for education, jobs, and immigration. Learn about income tax, capital gains tax, private residence relief, marriage allowance, and more. Stay informed about tax rates, bands, and business-related tax in the UK. Source: UK Government Website, Tax Regulations, G-20 Taxation Updates.
ITAT Delhi held that no part of the RPC fee is liable to be disallowed in terms of clause (i) of s. 40(a) because the second proviso clause (i) of Section 40(a) being curative and declaratory in nature has to be given retrospective effect.
ITAT Pune held that addition on account of cash deposits unsustainable as reasonable and plausible explanation given by the assessee.
ITAT Delhi held that addition of rental income as undisclosed merely because tenant as wrongly deducted TDS u/s. 194J is unsustainable as landlord cannot be blamed for wrong deduction of TDS.
