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Income Tax : Overview of Finance Act 2025 changes: capital assets, fund manager relocation, search case assessments, and more. ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : DPIIT's Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance eas...
Income Tax : Analysis of Form 3CD amendments effective April 1, 2025. Understand the impact on tax audits, MSME reporting, and cross-border com...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
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 : Bombay High Court quashes income tax notices to Srimani Basu due to improper service from address discrepancy, grants fresh hearin...
Income Tax : ITAT Ahmedabad overturns 12A and 80G renewal rejections, citing lack of examination by CIT(E) and violation of natural justice....
Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
Income Tax : Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ di...
Income Tax : The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the P...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Section 263 cannot be invoked to correct each and every type of mistake or error committed by the AO; it is only when an order is erroneous as also prejudicial to Revenue’s interest, that the provision will be attracted.
Income of the charitable trust is exempt u/s 11 of Income Tax Act if the same has been registered u/s 12AA. However, Income of the educational institution who has not registered u/s 12AA of the shall exempt u/s 10(23C) of the Act on fulfilment of certain conditions.
Held that addition made merely on the basis of statement by one of the partners and without finding any incriminating material is untenable in law.
ITAT Indore Upheld the Action of Revenue in holding LTCG earned from sale of shares of Turbotech Engineering Ltd. (TEL) as Bogus, The Hon. Tribunal followed the decision of Hon. Calcutta High Court rendered in case of PCIT vs. Swati Bajaj ITA No. 06/2022 Dated 14.06.2022
Get answers to FAQs on Section 115BAB of Income Tax Act, 1961. Learn about tax implications for new manufacturing domestic companies.
New Rule 17AA for books of accounts and other documents to be kept and maintained by Trusts and other various Institutions.
Allahabad HC quashed Income Tax reassessment Order notices for violating principle of natural justice & imposed Rs. 50 Lakh cost on Officers
Held that deduction under Section 80IA of the Income Tax Act is to be allowed unit wise without deducting incurred loss by the other unit of eligible business and allowed the appeal of assessee.
Section 10(23FE) – CBDT notifies ‘INQ Holding LLC’ as sovereign wealth fund vide Notification No. 95/2022-Income Tax | Dated: 16th August, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 95/2022-Income Tax | Dated: 16th August, 2022 S.O. 3828(E).—In exercise of powers conferred by sub-clause (vi) of clause […]
Held that principle of lifting the corporate veil was invoked without giving an opportunity of being heard violates the principles of nature justice and hence untenable
