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Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
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 : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
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...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
ITAT Delhi directs the Assessing Officer to delete the addition made in the case of Puneet Utreja. The Tribunal ruled that the explanation on Term Deposit maturity and redemption was adequate.
ITAT Delhi remands case to CIT(A) for ex-parte decision on unexplained cash credits, ignoring adjournment request filed via email. Case set for de-novo hearing.
ITAT Delhi removes addition of ₹2.9 Cr by AO in property transaction under Section 69A. CIT(A) accepts purchase and sale documents. Read the full judgment.
CBDT notifies tax exemption for Haryana’s District Legal Service Authorities under Section 10(46) of Income Tax Act, 1961, for specified incomes till 2028-2029.
CBDT grants tax exemption to Real Estate Regulatory Authority, New Delhi under Section 10(46) of the Income Tax Act for specified income from 2018-2019 to 2022-2023.
CBDT grants tax exemption to Gujarat Water Supply and Sewerage Board, Gandhinagar under Section 10(46) of the Income Tax Act for specified income.
Notification under Section 10(46) IT Act: Income Tax exemption for State Load Despatch Centre Unscheduled Interchange Fund, WBSETCL for FY 2022-2023 and 2023-2024.
Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to the Income Tax Department.
ITAT Mumbai grants partial relief to Ramniklal & Sons in the bogus purchase case, directing reassessment based on judicial precedents.
Bombay High Court allows revision under Section 264, addressing double taxation and rejecting the need for a revised return under Section 139(5).
