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Income Tax : Discover the highlights of the Form 3CD amendments effective April 1, 2025, including new clauses for cruise ships and MSMEs....
Income Tax : Mumbai ITAT rules co-ownership doesn’t imply tax liability. Sale proceeds taxed only for the beneficial owner, not co-owner in V...
Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Pune ruled that Section 68 applies only to amounts credited in the relevant year. Addition of ₹10L as unexplained cash cred...
Income Tax : Asha Viren Raj Vs ITO (ITAT Mumbai) The Asha Viren Raj Vs ITO (ITAT Mumbai) case revolves around the contentious issue of reassess...
Income Tax : Gauhati High Court held that addition merely on the basis of retracted statement without any other relied upon evidence/ material ...
Income Tax : ITAT Jaipur quashes addition of suppressed school fees for Pushpa Vidya Niketan, stating survey statements lack evidentiary value...
Income Tax : ITAT Mumbai rules that the 10% tolerance limit under Section 50C/56(2)(x) is curative and applies retrospectively, impacting prope...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
According to section 40A(3) of the Income Tax Act, if payment for any expenditure exceeding Rs.10,000 is made in cash in a day, then the expenditure will be disallowed under the Income Tax Act.
PVR Ltd Vs CIT (Delhi High Court) HC held that ITAT erred in law in holding that the difference between the price at which stock options were offered to employees of the appellant company under ESOP and ESPS and the prevailing market price of the stock on the date of grant of such options was […]
Shanu Events Vs State of U.P (Allahabad High Court) Perusal of the e-way bill reveals, the petitioner made an inadvertent error in applying for the e-way bill. After mentioning the place of shipment to ‘Kumbh Mela, Haridwar, Uttarakhand’, the words ‘Madhya Pradesh – 483501’ were filled up. The address having been thus wrongly filled up […]
Priya Vs ITO (Allahabad High Court) Heard Sri Rahul Agarwal, learned counsel for the petitioner and Sri Gaurav Mahajan, learned counsel for the respondent nos. 1 and 2/ Income Tax Department. This writ petition has been filed praying, inter alia, for the following relief:- “(i) Issue a writ, or direction in the nature of certiorari […]
ITAT held that the assessee has not wilfully delayed the filing of appeal and we find that there is no negligence on the part of the assessee, as the assessee has filed appeal manually in time.
CBDT notifies Haryana Electricity Regulatory Commission under Section 10(46) of income Tax Act, 1961 vide Notification No. 108/2022 – Income Tax | Dated: 5th September, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 108/2022 – Income Tax | Dated: 5th September, 2022 S.O. 4155(E).—In exercise of the powers […]
CBDT notifies ‘Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI )’ under Section 10(46) of income Tax Act, 1961 vide Notification No. 107/2022 – Income Tax | Dated: 5th September, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 107/2022 – Income Tax | […]
Assessee was not having any permanent establishment in India and was providing the service only from Singapore and therefore the provisions of Section 195 of the Act are not applicable.
Section 80JJAA of the Income Tax Act, 1961 is a deduction which an assessee can claim on the emoluments paid to new and incremental employees during the previous year.
Property tax in France is based on the rental value of the property and any addition to the property like permanent (not temporary) has to be declared before tax authorities within 90 days, since property tax is based on rental value, so any improvement will increase the rental value of property resulting in increased property tax.
