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Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
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 : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...
Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
Income Tax : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
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...
The Hon’ble Finance Minister in her budget speech for 2020 had introduced sub-section (1H) to the provisions of Section 206C, thereby including sale of goods under the ambit of TCS subject to specific conditions. The initial date of roll out of this provision was 1st of July 2020 which was then extended to 1st Oct. […]
Discover the tax exemption granted by CBDT to Singapore-based sovereign wealth funds. Explore the investment opportunities in India’s infrastructure sector.
One of the prolonged demand from the foreign investor community was to relax the compliance burden while investing in Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC). The Government has released a Notification No. 42/2021 on May 04, 2021, relaxing the requirement for obtaining the Tax identification number i.e Permanent Account Number (PAN) […]
Hospitals / medical facilities providing #COVID19 treatment to patients can now receive cash payments even higher than ₹ 2 lakh. Limit in section 269ST of IT Act relaxed, from 01.04.2021 to 31.05.2021. PAN – AADHAAR needed.
Praful M. Shah Vs National Faceless Assessment & Ors. (Bombay High Court) It was alleged by petitioner that Assessment Order was passed by National E Assessment Centre without granting an opportunity to be heard and A Writ Petition was filed in the Bombay High Court against such order. Petitioner claimed that The impugned order is […]
CBDT amends vide Notification No. 16/2015 dated 16.02.2015 which CBDT notified ‘ Godrej Agrovet Limited – Agricultural Inputs Extension Project‘ under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962. CBDT now amends the same vide Notification No. 49/2021 -Income Tax Dated: 6th May 2021. […]
CBDT amends Notification No. 15/2015 dated 16.02.2015 vide which CBDT notified ‘Godrej Agrovet Limited Animal Feed Extension Project‘ under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962. CBDT now amends the same vide Notification No. 48/2021 -Income Tax Dated: 6th May 2021. MINISTRY OF […]
CBDT amends Notification No. 14/2015 dated 16.02.2015 vide which CBDT notified Godrej Agrovet Limited – Oil Palm Extension Project under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962. CBDT now amends the same vide Notification No. 47/2021 -Income Tax Dated: 6th May 2021. MINISTRY […]
Analysis of sections providing concessional rate of tax (section 115BAA/ 115BAC/115BAD) The finance act 2019 introduced a new section 115BAA for domestic companies, which provides option to pay tax at concessional rate of 22% (Plus surcharge and Educational Cess). Further in line with the option provided to domestic companies, similar option is provided to Individuals/ […]
Section 206AB of the Income Tax Act is recently introduced vide the Finance Act, 2021. Section 206AB mandates the person to deduct TDS in case of non-filing of an income tax return by the specified person. The present article briefly explains the provisions of section 206AB; the meaning of the term specified person; rate of […]
