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Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
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 : 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 : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : ITAT Pune remands appeal for reconsideration, citing leniency for a senior citizen taxpayer's advance tax shortfall. Case to be de...
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...
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...
Discover how Form NR can provide relief from double taxation to non-residents. Learn about the self-declaration form introduced by CBDT.
Supreme Court Judgement in the case of Engineering Analysis Center of Excellence Private Limited vs. The Commissioner of Income Tax – dated 2nd March, 2021 TDS on Software purchased from Non-Residents ♠ The matter before the Supreme Court was – Whether payment made to Non-residents in the following 4 cases are ‘Royalties’ as per applicable […]
टैक्स देनदारी घटाने में करते हैं मदद आयकर कानून के तहत कई तरह के टैक्स बेनिफिट उपलब्ध हैं. ये आपकी टैक्स देनदारी घटाने में मदद करते हैं. कोई भी इनका फायदा उठा सकता है. आइए, यहां इनके बारे में जानते हैं. 1. एग्जेम्पशन इसका मतलब वैसे खर्च, इनकम या निवेश से है, जिन पर टैक्स […]
Paresh V. Shah Vs DCIT (ITAT Mumbai) I find that by way of this miscellaneous application it is the contention of the learned counsel of the assessee that the ITAT has felt into apparent error while upholding the disallowance of commission payment by not taking into account the document which were submitted. It is the […]
Shri Praveen Garg Vs ITO (ITAT Delhi) There is no dispute with regard to the legal proposition that the First Appellate Authority cannot consider new source of income. However, in the present case the A.O. reopened the assessment because it was found that there were cash deposits in several Bank accounts of the assessee which […]
The Rules for Civil Services Examination (CSE)-2021 to be held by the Union Public Service Commission (UPSC) for the purpose of filling vacancies in the following Services are, with the concurrence of the Ministries concerned and the Comptroller and Auditor General of India in respect of the Indian Audit and Accounts Service, published for general information:-
According to Mr. Mahna, the administrative approval of Principal Chief Commissioner, Income Tax was obtained by the Assistant Commissioner, Income Tax only on 30.03.2018, i.e., after the issuance of the notice under Section 148 of the Act.
OECD as well as most of the countries have clarified that in view of the provisions of the domestic income tax law read with the DTAAs, there does not appear a possibility of the double taxation of the income for FY 2020-21, As explained above, the possibility of double taxation does not exist as per the provisions of the Income-tax Act, 1961 read with the DTAAs.
Travancore Textiles P. Ltd. Vs ITO (ITAT Chennai) The Assessing Officer has assessed interest income under the head income from other sources and further disallowed total expenditure incurred at Head Office on the ground that said expenditure is relatable to agricultural operations of the assesse. We find that the Assessing Officer is following different method […]
1. There have been a lot of ambiguities have arisen regarding the payment made to a non-resident entity for the grant of the use of computer software by a businessman in India for internal business purposes. 2. The Income Tax Department has been treating such payments as royalty and accordingly, bringing the same to tax in India.
