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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...
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01st June 2021 was the day of the launch of the income tax portal 2.0 with a clear 10 days intimation in advance that the income tax services will not be available from 01st June till 07th June 2021 and any dates, timelines falling between 01st June to 10th June 2021 would be extended/ deemed extended. Nearly 1.5 months after […]
Naresh Kumar Goyal Vs National Faceless Assessment Center & Ors. (Delhi High Court) Naresh Kumar Goyal (Petitioner) challenged the show cause notice and the draft assessment order both dated April 19, 2021, penalty notice dated May 20, 2021 (Notices) and the assessment order dated May 20, 2021 (Impugned Order) passed by the Department. The Petitioner […]
Autodesk Asia Pte Limited Vs DCIT (ITAT Bengalore) The assessee is a Singapore based company, a subsidiary of Autodesk US and the headquarters for Asia-Pacific (APAC) region. It is engaged in the business of manufacturing, designing and supporting computer software and related Autodesk products in the APAC region. It performs or manages activities related to […]
DCIT Vs Sasken Network Engineering Limited (ITAT Bangalore) In terms of section 199, Rule 37BA provides that credit for tax deducted at source and paid to the Central Government shall be given for the Assessment Year for which such income is assessable. In case the income is assessable over a number of years, credit for […]
Section 292B is considered as a protection to the Income tax authorities for most of short comings in proceedings due to technical aspects.’Substance over form theory’ is the underlining philosophy of section 292B of the Act.
ITAT Pune partially allows appeal in Amrutlal Gangaji Choudhary Vs. DCIT. Section 68 addition lacks cogent reasons. Remanded for de novo adjudication.
Exemption under Section 54 of the Act is dependent on the date of acquisition of the property and not on the date of payment made in respect of such property. It is also noteworthy to mention that to claim an exemption under Section 54F of the Act, it is not necessary that the same sale consideration should be used for construction of a new house property.
Analysis of Section 40(a)(i)- Non-compliance of Provisions of TDS where payment is made to Non Resident If any interest, royalty, fees for technical services or other sum chargeable under this Act, which is payable,— (A) Outside India; or (B) In India to a non-resident, not being a company or to a foreign company, On which […]
♦ Section 206CC of Income Tax Act, 1961 has been inserted to provide that any person whose payments are subject to tax collection at source i.e. the collectee, shall mandatorily furnish his PAN to the collector failing which the collector shall collect tax at source at higher of the following rates – a. At twice […]
