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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...
As on 31.05.2021, assessment orders under section 10(3)/10(4) of the Black Money Act, 2015 have been passed in 166 cases, wherein demand of 8,216 crore has been raised. Undisclosed income of 8,465 crore (approx.) has been brought to tax and penalty of Rs. 1,294 crore has been levied in HSBC cases.
Standard Operating Procedure (SOP) for handling writ petitions where assessment is made under the Faceless Assessment Scheme 2019 (FAS’ 19)/section 144B of the IT Act, 1961(the Act) and or penalty is passed under Faceless Penalty Scheme, 2021, where NaFAC/CBDT is one of the respondents
Loan to Corporate Person free of interest to be as classified Financial Debt in Section 5(8) of IBC and therefore, a Financial Creditor was competent to initiate the Corporate Resolution Process under Section 7 of the IBC.
Office Order No. 185 of 2021 In supersession of all earlier orders, the following transfer/postings of the officers in the grade of Chief Commissioners of Income Tax/Director Generals of Income Tax. are hereby ordered with immediate effect and until further orders:
Tripura Cricket Association Vs ACIT (Calcutta High Court) The case of the petitioner in short is that the petitioner is the governing body for cricket of the Tripura State and it is affiliated to the Board of Control of India (BCCI) and it is the case of the petitioner that it was enjoying exemption under […]
When there was no valid return available before AO as assessee neither filed original return under section 139(1) nor filed any return in response to the notice issued under section 148 within the prior limit of 30 days as stated in the notice under section 148, there is no requirement of issuance of notice under section 143(2).
Vodafone India Services Limited Vs ACIT (ITAT Mumbai) 1. By way of this application, the asses see-applicant seeks a stay on collection recovery of the tax and interest demands, aggregating to Rs 1128.46 crores, in the matter of assessment under section 143(3) r.w.s. 144C of the Income Tax Act, 1961, for the assessment year 2014- […]
Are u Resident Indian ? Do you have a Citizen of India ? or your Parents are born in Undivided India ? You thought what is this silly questions you have asked? But after reading of this article you will definitely reversed your previous question and in a definite mood to either think or preserve […]
In this Article we will understand mainly about Section 115BAC & Form 10-IE. Finance Act,2020 introduce NEW TAX REGIME. The Finance Minister announced new tax slab for Individuals, HUF and Co-operative societies. Therefore, for inserting new tax slab Ministry has inserted two sections: ♦ Section 115BAC: New Tax Rate for income of Individuals and HUF […]
ITR 1 and ITR 2 filing for A.Y 2021-22 : Hello readers, my friends requested to write an article on ITR 1 and ITR 2 filing as we all know we have to file our Income tax returns till 30.09.2021- It is very important to choose correct form based on our income, exemptions, residential status […]
