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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...
ITR 1 – Validation Rules for AY 2021-22 Version 1.0 2nd April 2021 Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Document Revision List Document Name: ITR 1 – Validation Rules for AY 2021-22 Version Number: 1.0 Revision Details Version No. Revision Date Revision Description Page Number […]
The Special Judge for CBI cases, Delhi has sentenced S/Sh Ashutosh Verma then Deputy Director (Investigation) Income Tax, Delhi; Suresh Nanda (private person) and Bipin Shah (Chartered Accountant), all to undergo one year Rigorous Imprisonment with fine of Rs. one lakh each in a CBI case.
ITO Vs Shivani Gupta (ITAT Delhi) The A.O. in this case noted that assessee has sold the shares of Shilpi Cable Technologies Ltd., and claimed exempt under section 10(38) of the I.T. Act of the impugned amount. The A.O. merely declared this company to be penny stock company without bringing any evidence on record. Though […]
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 6th April, 2021 CORRIGENDA THE FINANCE ACT, 2021 No. 13 OF 2021 In the FINANCE ACT, 2021 (13 OF 2021), as published in the Gazette of India, Extraordinary, Part II, Section 1, dated the 28th March, 2021, Issue No. 15,— Page No. Line(s) No. For […]
Introduction to ITR Offline utility Assessment Year 2021-22 ITR-1 and 4* * Enabled for ITR-1 & 4 as of now Steps to Download and install Offline Utility and fill the same Let us understand the execution steps for ITR 1 & ITR 4……. Step by Step Guide – Download & Install Offline Utility Step 1 […]
Notification no. 19/2021 dated 26/03/2021 issued by CBDT, pertaining to procedure for registration of fund/trust/charitable institutions etc. ➢ Notification Substitutes/Amends/Inserts rules related to registration of fund/trust/charitable institutions. All NGOs that are already APPROVED under Section 12A/12AA and Section 80G as of this date & all such NGOs who shall be seeking PROVISIONAL REGISTRATIONS with the […]
Tata Communications Ltd. Vs Union of India (Bombay High Court) FULL TEXT OF THE JUDGMENT/ORDER of BOMBAY HIGH COURT Bombay high court on unlawful illegal refund adjustment u/s 245 by tax authorities held that Interim relief granted by Bombay HC vide order dated 26th March, 2020 also applies to Income Tax Refund and refund cannot be […]
INCOME TAX ♦ Income Tax Rates There is no change in the Rates of Income Tax for the AY 2022-23. . ♦ TDS and TCS Rates- No Further COVID Relief TDS and TCS Rates had been reduced by 25% during FY 2020-21 due to COVID-19. However, with effect from 1st April 2021, original TDS and […]
Finance Act, 2016 inserts, with effect from 1-4-2017, a new section 270AA in the Act empowering an Assessing Officer to grant immunity from imposition of penalty under section 270A of the Act as well as initiation of prosecution proceedings under section 276C and section 276CC of the Act on certain terms and conditions. Section 270AA of the Act reads as under: [Immunity from imposition of penalty, etc. 270AA. (1) An assessee may […]
The taxation of capital gain on the shares transactions has gone through a bunch of changes in the last few years, so it is very critical for a professional as well as for assessee to understand the concept of taxation of capital gain on listed shares. Transactions in stock market can be Intra Day Transactions […]
