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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
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 : 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 Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
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 : 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...
ITAT Delhi held that assessment order passed in the name of non-existent entity is equivalent to passing an order in the name of dead person, hence, is invalid.
CBDT vide notification No. 07/2022 dated 18.01.2022, notified e-advance rulings Scheme, 2022, which is applicable with effect from 18-01-2022. The scheme provides for faceless scheme in case of Advance Ruling.
TDS/Non TDS/Other Challans can now be paid through Bank of Baroda, HDFC Bank, Punjab & Sind Bank, State Bank of India, or the income tax portal. Learn how to pay Direct Taxes Challan here.
Smt. Sonal Kumari Vs ITO (ITAT Chennai) The only issue in this appeal of assessee is as regards to the order of CIT(A) confirming the action of AO in adding the cash deposited during demonetization period in assessee’s savings bank account maintained with Punjab National Bank between 15.11.2016 to 05.12.2016 amounting to Rs.7.68 lakhs. The […]
MSEDCL is a State under Article 12 of Constitution and cash payments made to its franchise/agent is covered under Rule 6DD(b). Therefore, disallowance under Section 40A(3) is not justified.
ITAT Bangalore held that addition of Special Economic Zone books profits while computing books profits under section 115JB of the Income Tax Act is unsustainable in law in terms of Special Bench of Delhi Tribunal decision in the case of ACIT vs. Vireet Investment (P) Ltd.
It is evident that the assessee had received cash amounts, but deposited in its Bank A/c which is in violation of the provisions contained in Section 269SS. But like any other penalty, the operation of Section 271D with reference to the violation of the provisions contained in Section 269SS also is not automatic.
Want to know the expectations of taxpayers in the upcoming budget? Learn what Bhartiya Janta Party and Finance Minister Smt. Nirmala Sitaraman have in store with the keyphrase ‘Expectations of Tax Payers In Budget – 2023’
Calcutta High Court held that compensation duly assessed taking the annual income after statutory deduction in terms of Income Tax Return.
Supreme Court held that persons other than searched persons shall be liable to pay the interest on late filing of the return under Section 158BC even in absence of a notice under Section 158BC of the Income Tax Act.
