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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...
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Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...
Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...
Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....
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Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...
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...
PCIT has tried to super impose his view in exercise of powers u/s. 263 of Income Tax Act over one of possible view taken by Assessing Officer.
Provisions of section 28 of Income Tax Act, 1961 specify income chargeable to income tax under ‘Profits and gains of business or profession’.
Hc held that alternative remedy will not operate as an absolute bar for entertaining the writ petition as jurisdictional issue goes to the root of the matter. Therefore, we are of the view that appellant has made out a case for entertaining this appeal” and had also stayed the further re-assessment proceedings.
ITAT Hyderabad held that delay of 988 days in filing of the appeal cannot be condoned on the basis of vague reason.
Explore the amendments in Capital Gain exemptions under Section 54 & 54F in the Budget 2023, aiming to limit exemptions for high net worth individuals.
ITAT Bangalore held that the amount paid by Google India Private Limited (GIPL) to M/s. Google LLC (US) towards seconded employees doesn’t come under the purview of FTS (Fees for Technical Services) or FIS (Fees for Included Services) under the Income Tax Act or under DTAA.
ITAT Kolkata held that dismissal of assessment order passed under section 143(3) on erroneous reasoning that dispute was resolved via Vivad Se Vishwas Scheme. Fresh adjudication directed to decide all the appeals on merits.
ITAT Delhi held that TDS under section 194A of the Income Tax Act duly deductible on interest paid by subsidiary company to its holding company.
Bombay High Court held that in absence of any fresh tangible material and simply attempting to re-visit and reconsider the decision which was rendered in earlier regular assessment proceedings is nothing but a change of opinion and hence reopening unsustainable.
India’s Income Tax Act of 1961 governs the taxation of income in India. Income tax is levied on income earned by various kinds of entities ranging from individuals to companies.
