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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Whether the interest u/s 234B for less payment of advance tax will be levied on account of additions made to total income, consequent to retrospective amendment?
Whether interconnection usages charges (IUC) is in the nature of fees for technical services and whether the assessee is liable for TDS under section 194J of Income Tax Act, 1961?
The issue under consideration is whether TDS under section 194H is applicable from payment of bank guarantee commission to the bank?
It is important to note that the industry was waiting for definition change in MSME for quite a long time. As there was fear among MSME that if they grow in terms of number, they might lose the title of being MSME and lose benefits of Government provided for MSME.
It is a well settled principle that ‘Income-tax’ of a taxpayer is a not an allowable business expenditure. However, whether the ‘Income-tax’ payable by the taxpayer also includes ‘Cess’ or does not include such ‘Cess’ is a matter of debate.
Gateway Leaisng Pvt Ltd Vs ACIT (Bombay High Court) Section 148- Revenue cannot travel beyond reasons recorded & same cannot be supplemented at the Later stage. Reasons which are recorded by the Assessing Officer for re-opening an assessment are the only reasons which can be considered when the formation of the belief is impugned; such […]
RESIDENTIAL STATUS We already know, tax is charged on Total Income. The computation of this total income further depends upon the residential status. The followings are the importance of residential status; Importance of Residential Status: 1. Total Income of an assessee cannot be determined without knowing his residential Status. 2. Residential Status shall be determined […]
Today I will talk about some due dates extension. Just to update you about your compliance calendar. If you are feeling worry about that how to file compliances on time as due dates is going to end soon than don’t worry as there are so many extension is made by Income tax department and SEBI […]
Equalisation Levy or commonly referred to as ‘Google tax’ was brought in the year 2016 by the then Finance Minister Late Sh. Arun Jaitley as part of implementation of OECD (Organization for Economic Cooperation and Development) Action Plan on taxation of digital transactions (BEPS Action Plan-1). It was observed that business these days is conducted […]
FURNISHING INFORMATION REGARDING REMITTANCE TO NON-RESIDENT A person making payment to a Non-Resident /Foreign entity is required to furnish an undertaking in Form 15CA in digital mode. In some cases, department requires a Certificate From CA, in Form 15CB to be uploaded with the Form 15CA. The relevant provisions have been included in Income Tax […]
