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Income Tax : The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowan...
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
Income Tax : The new law replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms...
Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : Paragraph 27AA of the Employees' Provident Fund (EPF) Scheme could not be automatically imposed on establishments exempted under S...
Income Tax : The case examined whether reassessment approval beyond three years was issued by the competent authority. The court held that appr...
Income Tax : The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds earmarked for asset ac...
Income Tax : The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond three years. It...
Income Tax : The court examined whether interest on FDRs could be taxed as other income. It held that where funds are linked to a project, the ...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Capital gain is considered as the gain/profit on sale of property which is arrived at by deducting the Purchase Price from its Sale Price and the tax is to be paid on that gain which is termed as Capital Gain tax. There are two types of gains that arise on Sale/transfer of property and those are Short term Capital Gain (STCG) and Long term Capital Gain (LTCG).
The Indian government remains married to promoting entrepreneurship and profitable development through duty impulses for startups and Micro, Small, and Medium Enterprises (MSMEs). The Union Budget 2025 presents a number of new incentives to palliate fiscal pressures and encourage business growth. This composition discusses the new tax incentives and benefits for startups and MSMEs in […]
Delhi High Court examines Nokia Network OY’s Permanent Establishment (PE) status in India, addressing taxation on software revenue, interest income & vendor financing.
CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, impacting Forms 10IH, 64A-F, for streamlined reporting.
Learn how to smartly allocate your tax savings in 2025—repay loans, invest in mutual funds, boost spending, or explore business opportunities.
A PAN (Permanent Account Number) is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India to individuals and entities. It serves as a means of identifying taxpayers in the country. The Income Tax Department of India introduced the PAN (Permanent Account Number) card system to track financial transactions and ensure proper taxation.
Understand USA corporate tax in 2024, including tax rates, filing deadlines, estimated payments, EINs, and penalties. Stay compliant with updated IRS guidelines.
Telangana HC clarified that capital gains tax applies only when ownership or possession is transferred along with consideration.
Explore what’s taxable and non-taxable in salary, including allowances, perquisites and deductions. Learn key components and tax exemptions under Income Tax Act.
ITAT Lucknow quashed assessments in Shri Navin Jain vs. DCIT, citing mechanical approval under Section 153D. Read key details and legal findings.
