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Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
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 : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
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...
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...
ACIT Vs Calchennai Mobile Worx P. Ltd (ITAT Chennai) As per asset purchase agreement between the assessee and the purchaser, agreed consideration for transfer of business/asset is Rs 5.76 crores. In fact, the buyer has confirmed having paid entire agreed consideration for transfer of business. The assessee claims that it has received a sum of […]
Evaluate the reasonableness of Notices issued under section 148 of Income Tax Act, as amended in the Finance Act 2021. Get to know the time limits for issuing a Reassessment Notice.
Section 80-IAC of Income Tax Act, 1961 provides a tax incentive to domestic companies for promoting investments in startups and other eligible businesses.
Discover why the procedure for paying taxes has become so complex and how it can be resolved in the near future with e-payment hitches.
SC ruling on Whether settled Indian citizens in Sikkim before it became an Indian State w.e.f 26-04-1975 are eligible for exemption u/s 10(26AAA) of Income-tax Act,1961
Whether special road tax charged by State of Himachal Pradesh for motor vehicles violating rules is in the nature of penalty and thus against competence of State under Constitution of India?
ACIT Vs Shree Ami Office Owner’s Association (ITAT Ahmedabad) The issue for consideration is the year of taxability of the property. We observe that in the instant case, both the registered sale deed as well as the possession of the property was transferred in the subsequent financial year i.e. financial year 2007-08. The complete payment […]
Revenue is under obligation to give suitable credit for such deduction either in the year in which the corresponding income has been declared or in the year in which TDS credit has been received in the Treasury
ITAT Hyderabad held that prior to 01.10.2014 it was essential for the Assessing Officer to reject the books of accounts of the assessee before referring the matter to the Valuation Officer for determining different entries and the expenditure incurred by the assessee.
Assessee should not be non-suited for the default committed by the revenue in nor preferring the appeal within the period of limitation
