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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Bombardier Transportation Sweden AB Vs DCIT (ITAT Delhi) Conclusion: Payment of consideration would be regarded as ‘fee for technical/included services’ only if the twin test of rendering services and making technical knowledge available at the same time was satisfied. Intermediary services rendered by assessee did not make available any technical knowledge, skill etc to BTIN […]
The issue under consideration is whether the re-opening of assessment is valid even if there is no addition on subject-matter being basis for issuing notice under section 148, rather AO made addition on other counts?
Commission paid to Director in terms of Employment is Considered as Part of Salary. It is also not disputed that TDS has been deducted on such commission as salary. Accordingly, the Revenue’s appeal is dismissed.
The issue under consideration is whether addition made by AO by application of N.P. rate of 8% is justified in law? Profit Margin Cannot be Rejected Arbitrarily due to Rejection of Books of Account
At the outset we convey your honour our Congratulations on introducing Faceless Assessment and Faceless Appeal Schemes and also introducing new Taxpayers Charter. Direct Taxes Vivad Se Vishwas Scheme is also a commendable step to reduce litigations. We assure your honour of our full support in the implementation of the same.
GCO Technologies Centre Private Ltd. Vs ITO (ITAT Mumbai) We have deliberated at length on the aforesaid issue under consideration and are unable to persuade ourselves to subscribe to the projection of the aforesaid comparable company viz. M/s Cather Consultancy Services Pvt. Ltd by the assessee as a profit making company during the financial year […]
Dream Motels (P) Ltd. Vs ITO (ITAT Mumbai) The issue under consideration is whether treating municipal taxes paid is considered as a part of rent liable to be taxed u/s 23 of the act? ITAT states that, upon due consideration of factual matrix, the crystal-clear position that emerges is the fact that as per the […]
Key Features of e-TDS/TCS Return Preparation Utility Ver. 3.4 for Regular & Correction Statement(s) from FY 2007-08 onwards 1. Section codes 194LBA(a) and 194LBA(b) for Form 26Q:- Existing section code 194LBA has been sub-divided into below mentioned two sections: 194LBA (a) – Certain income in the form of interest from units of a business trust […]
The primary reason for bringing out the Direct Tax Vivad Se Vishwaas Scheme 2020, as asserted by the learned Revenue Secretary is to ensure amicable resolution of disputes arising out of OCM/Demonetisation Cases. The Income-tax department has launched an aggressive outreach drive, wherein, a large number of jewellers and real-estate developers have been sent notices, emails and proposals to opt for this Tax Amnesty Scheme and avail the benefit of immunity from interest and penalty and even prosecution.
The issue under consideration is whether the proceedings of enquiry/investigation undertaken at the airports without keeping it confidential and premature disclosure to the media (print/electronic) is justified in law?
