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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...
ITR status shows the current status/stage of your filed ITR. Once your ITR has been filed, you may check if it has been accepted and processed by the Income Tax Department. In certain cases where some discrepancies are found, you may need to respond to the communication from the ITD. Hence, it is advisable to periodically check your ITR status.
FAQs on How to e-Verify Income Tax Return (ITR) Q.1 Why do I need to e-Verify? You need to verify your Income Tax Returns to complete the return filing process. Without verification within the stipulated time, an ITR is treated as invalid. e-Verification is the most convenient and instant way to verify your ITR. You […]
How to Add/Remove/Validate Demat Account on new Income Tax Portal- FAQs Q.1 Can I enable EVC for multiple demat accounts? Ans. No. EVC can be enabled for only one demat account at any point of time. If you try to enable EVC for another demat account, then you will receive a message to disable EVC […]
Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan today. India was chosen as the Partner Jurisdiction and has provided the Tax Expert for this programme.
No immunity from tax to the right person if revenue taxed wrong person contrary to law. SC in the case of Income Tax Officer vs Ch. Atchaiah on 11 December, 1995 There are no words in the present Act (The Income Tax Act , 1961) which empower the Income Tax Officer or give him an […]
NFAC should follow and apply the decision of jurisdictional High Court having jurisdiction over Assessing Officer. Any relief should not be refused to assessee by NFAC merely because there was some conflicting decision of non-jurisdictional High Court.
ITAT Mumbai expressed doubts on correctness of decisions of coordinate benches on dividend distribution tax (DDT) rate being restricted by treaty provision dealing with taxation of dividends in the hands of shareholders.
Indian Government has issued a Circular No. 2 of 2021 dated 3rd March, 2021 (Circular 2021) for determination of residency of individuals for the current tax year (PY 2020-2021) for individuals who were forced to remain in India due to suspension of international flights in light of the Novel Corona Virus (COVID-19). Circular 2021 comes […]
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved anAgreement between the Republic of India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes.
Understanding Section 194C amendments and important court judgments on section 40(a)(ia) of the Income Tax Act.
