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Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
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 : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....
Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....
Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....
Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...
Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
Notification No. 87/2021-Income Tax | Dated 04.08.2021 – Chief Justice of the High Court of Gujarat, hereby designates the following Court mentioned in column (2) of the Table below as the Special Court for the area specified in the column (3) of the said Table, for the purposes of section 84 of the Black Money […]
Vide Notification No. 86/2021-Income Tax | Dated: 4th August, 2021 CBDT notifies Tax Exemption to Real Estate Regulatory Authority, Himachal Pradesh, Shimla in respect of the specified income for Assessment Year 2020-2021 to 2024-2025. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 86/2021-Income Tax New Delhi, the 4th August, 2021 […]
Vide Notification No. 85/2021-Income Tax | Dated: 4th August, 2021 CBDT notifies Tax Exemption to ‘National Council of Science Museums’, Kolkata, an autonomous body established under the Ministry of Culture, Government of India, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD […]
Government released New ITR filing portal on 7th June, 2021 for improving efficiency of IT Portal, best user interface and better user services. However, since the day of its launch, portal is facing many problems/errors like unable to File ITR on New Portal, unable to do EVC (E-verify) of ITR, non launching of schema of […]
On August 2, 2021, the Hon’ble Supreme Court of India ordered for Cancellation of Registration of Batanagar education and Research Trust (Trust) on the ground of misuse of status conferred under section 12AA and 80G of the Income Tax Act, 1961. Fact of the Case:- At the time of conducting a survey on an entity […]
CBDT vide circular No. 15/2021 dated 03.08.2021 Extended time lines for electronic filing of various Forms under the Income-tax Act, 1961 in view of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms and considering the non-availability of the utility for e-filing of certain Forms. Forms for which dates been […]
Inflow Technologies Private Limited Vs ACIT (ITAT Bangalore) The assessee, as a part of share purchase agreement, during the business structuring had given a corporate guarantee to one of its group supplier CISCO for supplies made to its AE (Inflow Singapore). According to the assessee, it did not intend to get any remuneration for the […]
CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India) Supreme Court Orders Cancellation of Registration in Case of Misuse of Status Conferred under Section 12AA and 80G In this case donations were received by way of cheques out of which substantial money was ploughed back or returned to the donors in cash. […]
Three C Homes Pvt. Ltd. Vs. ACIT (Delhi High Court) Assistant Commissioner of Income Tax (Respondent) filed an application for modification/ recall of the order dated July 16, 2021 (Impugned Order), passed in W.P. (C) No. 5912/2021 dated July 16, 2021, directing Central Bureau of Investigation (CBI) to enquiry on doubtful Income Tax Department’s action […]
RKKR Foundation Vs National Faceless Assessment Centre Delhi (Delhi High Court) According to us, what has emerged clearly is that, a request for accommodation was made by the petitioner on 27.04.2021, wherein a reference was made to the CBDT circular dated 24.04.2021, whereby, the limitation for passing the assessment order had been extended till 30.06.2021. […]
