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Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
The Rajasthan High Court, Jaipur in the matter of, Abhay Singla v. Union of India, has recently issued notice in a public interest litigation challenging the constitutionality of Section 194N of the Income Tax Act, 1961.
Ratan Lal Patel Vs Dr. Hari Singh Gour Vishwavidyalaya (Supreme Court of India) It can be seen that the impugned order allowing the review application is a cryptic, non-reasoned and non-speaking order as Nothing has been mentioned and/or observed as to what was that error apparent on the face of the record which called for […]
Ems Projects Pvt. Ltd. Vs Commissioner Of CGST (Gujarat High Court) It is not in dispute that one year period has elapsed since GST Electronic credit ledger came to be blocked. Rule 86A of Central Goods and Services Tax Rules, 2017 empowers the authority to block the electronic credit ledger if the authority has reason […]
Appeal by Anantpur Kalpana against CIT(A) order on demonetized notes. Cash deposits treated as unexplained credits. Learn about double taxation issues
Neelam Hospital Vs ITO (ITAT Chandigarh) Admittedly and undisputedly, the assessee had filed the appeal before the NFAC beyond the period of limitation and there was a delay of 252 days in filing the appeal. However, it is also undisputed that the NFAC did not adjudicate the appeal of the assessee on merits but dismissed […]
Delhi High Court ruling on Budweiser trademark infringement. Defendants restrained from using recycled Budweiser bottles for BLACK FORT and POWER COOL beers.
Learned PCIT has exceeded her jurisdiction in examining issues other than the issues which is subject matter of limited scrutiny assessment proceedings before the Assessing Officer.
Corporate restructuring is an action taken by the corporate entity to modify its capital structure or its operations significantly. Generally, corporate restructuring happens when a corporate entity is experiencing significant problems and is in financial jeopardy.
There are many changes in the tax rules effective 1st April 2022, Out of which I am going to discuss are New tax rules on EPF Interest, Taxation of Virtual Digital Assets, Filing of Updated IT Return and Tax relief on Covid-19 treatment expenses and compensation. 1. New tax rules on EPF Interest: Effective April 1, […]
Gondia Beedi Leaves Contractors Association Vs Union of India (Bombay High Court) It is admitted that the re-sale of Tendu leaves, as it is without any process, after purchase from the Forest Department would amount to trading which does not qualify for exemption under sub-section (1A) of Section 206C of the Income Tax Act. It […]
