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Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
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...
Explore the need for digital taxation in India and the challenges brought by technological digitization and e-commerce.
Solitare World Pvt. Ltd Vs ACIT (ITAT Delhi) Loose paper found during search on standalone could not be used as a basis for making the addition without the company of any other supportive material and evidence. Facts- A search and survey operation u/s 132/133A was carried out on 15.10.2013 in SRM group of eases by […]
DCIT Vs Hyderabad Educational Institutions Pvt. Ltd (ITAT Hyderabad) The tuition fee is received in the last quarter of a financial year, however, the corresponding service is rendered by the assessee in the next quarter which falls in a different financial year. Accordingly, held that income accrues only when the right accrued by rendering of […]
S. Ashokan Vs DCIT (ITAT Chennai) Addition towards cash payments u/s 40A(3) unsustainable in absence of any incriminating materials found during search – claim of assessee abruptly rejected that cash found during search pertains to earlier AY. Facts- The first issue in assessee appeal is validity of assessment order passed by the AO u/s.143(3) r.w.s.153A. […]
XINDIA Steels Ltd. Vs ACIT (ITAT Bangalore) CSR expenditure, for the benefit of public towards education expenses to the schools/villages surrounding the factory of children of the villages where the factory of the assessee is situated, is business expenditure allowable as deduction u/s 37 Facts- The assessee filed return of income declaring Rs.45,62,36,080 as per […]
Sanjaykumar Gangaram Patel Vs ITO (ITAT Ahmedabad) Return not filed, however, cash deposit was found in AIR. Accordingly, AO issued notice u/s 148. Addition on cash deposited in bank account, opened with the assessee’s wife, is sustainable. Facts- The assessee is an individual. For AY 2006-2007, assessee has not filed a ROI. Annual Information Return […]
ACIT Vs Bajrang Bahadur Singh (ITAT Varanasi) Manipulation and falsifying records by making wrong entries to bring itself out of clutches of provisions of section 40A(3) is unsustainable in law. Cash expenditure above threshold limit u/s 40A(3) disallowed Facts- The assessee filed its ROI declaring total income of Rs.64,87,970/-, on 29.09.2012. The assessment was completed […]
Understand the cash transaction restrictions on charitable trusts under income tax. Learn about the different types of donations and their implications.
Understand the income tax provisions for cash transactions in the agriculture sector. Learn how farmers can protect their interests in sales and auctions.
Understanding Section 194N TDS provisions on cash transactions. Learn who is responsible to deduct tax and who is the payee.
