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Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
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 : 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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
Central Government specifies under Section 138(1)(a)(ii) following bodies/agencies 1. Cabinet Secretariat 2. Intelligence Bureau 3. Narcotics Control Bureau and 4. National Investigation Agency. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 53/2020-Income Tax New Delhi, the 21st July, 2020 S.O. 2411(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section […]
Central Government hereby specifies Joint Secretary (Farmers welfare), Department of Agriculture, Cooperation and Farmers Welfare, Ministry of Agriculture and Farmers Welfare, Government of India, for the purposes of the said clause in connection with sharing of information regarding income-tax assessees for identifying the eligible beneficiaries under PM-KISAN Yojana.
Notification No. 50/2020- Central Government notifies ‘Tamil Nadu e-Governance Agency in respect of the specified income arising to the board under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st July, 2020 Notification No. 50/2020-Income Tax S.O. 2403(E).—In exercise of the […]
Deduction under Section 80C, Section 80CCC, Section 80CCD (Maximum amount of Income Tax deduction Rs. 1,50,000+Rs. 50,000) Deduction under Section 80C In order to calculate total income of an Individual & HUF certain payments are very important to claim deduction u/s 80. Hence to know about which type of payment that are eligible to deduct […]
Google Tax: India’s Tax perspective Introduction With ever evolving technological advancements, the businesses have found unique ways to operate their businesses just by relying on digital technology. As a result of the rapid technical development, the new business models have come with a set of new tax challenges in terms of connection, characterization and valuation […]
Avoid income tax troubles by knowing the 7 common mistakes that can lead to an income tax notice. File your ITR correctly and on time.
We often get tempted by attractive offers and cashbacks offered by various vendors when we make digital payments. Online shopping websites and some stores are offering cashbacks on use of certain credit cards or mobile wallets to pay for the goods.
Only 11 days left for non-filers to file & erring taxpayers to revise ITR for AY 2019-20. Avoid penalties & comply with Income Tax requirements.
As we all now Finance Act 2020 has introduced a New Slab rate for Individuals from Current Financial Year Which has created a lot of confusion regarding which tax regime will be best for us. Let’s discuss the new tax regime and comparative analysis to resolve the confusion Applicability Salaried employees, having no business income, […]
1. Overview of Voluntary Retirement Scheme. As the name suggests a voluntary retirement scheme is an option given by an organization to its current employees to take early retirement before the actual date of retirement. Unlike a compulsory layoff, this scheme is optional to employees, and decision about whether they want to continue with the […]
