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Income Tax : Overview of Finance Act 2025 changes: capital assets, fund manager relocation, search case assessments, and more. ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : DPIIT's Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance eas...
Income Tax : Analysis of Form 3CD amendments effective April 1, 2025. Understand the impact on tax audits, MSME reporting, and cross-border com...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : Bombay High Court quashes income tax notices to Srimani Basu due to improper service from address discrepancy, grants fresh hearin...
Income Tax : ITAT Ahmedabad overturns 12A and 80G renewal rejections, citing lack of examination by CIT(E) and violation of natural justice....
Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
Income Tax : Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ di...
Income Tax : The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the P...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Article on Disallowance Of Employees’ Contribution To Provident Fund Or Superannuation Fund Or Gratuity Fund Or Any Other Fund For The Welfare Of Employees. Section 43B(b) r.w.s. 36(1)(va) of the Act.
32 Amendments relating to Assessment Year 2020-21 (Finance Act 2019) alongwith Section 111A, 112, 112A, 115JB, 115JC, 115BAA and 115BAB explained RATES OF TAXES APPLICABLE TO ASSESSMENT YEAR 2020-2021 (FINANCIAL YEAR 2019-2020) A. INDIVIDUAL AND HINDU UNDIVIDED FAMILY a) Individual Below 60 years /HUF Particulars of Taxable income Rate a Income up to Rupees 2.50 […]
Addition made by AO on account of profit allegedly earned by assessee on undisclosed turnover was directly related to the ground on which the case of the assessee was selected for limited scrutiny. Since same being fall-out of the verification made by AO on issue, on which case of assessee was selected for limited scrutiny, there was no merit in contention raised by assessee that addition made by AO was beyond scope of limited scrutiny.
Section 11 – Made Easy – Never Before Ever After Section 11 of Income Tax Act, 1961- Income from property held for charitable or religious purposes Sub Section (1) of Section 11 Subject to the provisions of sections 60 to 63, the following income shall not be included in the total income (i.e. Exempt) of […]
Learn about the CBDTs e-campaign on voluntary compliance for Income Tax. Understand its benefits for taxpayers and the aim to increase transparency and accountability.
As per the prevailing legal position, the AMP expenditure incurred by the assessee in India cannot come within the purview of international transaction. That being the case, the adjustment made by the Transfer Pricing Officer cannot survive. Therefore, we do not find any necessity to restore the issue to the Assessing Officer.
whether section 50C can be invoked in respect of the right to receive compensation on compulsory acquisition of land & the TDR rights as the same would not come within the meaning of “immovable property”?
Specified person for this purpose has been defined to mean wholly owned subsidiaries of Abu Dhabi Investment Authority (ADIA), notified Sovereign Wealth Fund (SWF) and notified Pension Funds (PF), which fulfil conditions specified in the clause or to be prescribed for the PF.
The issue under consideration is whether Penalty u/s 271(1)(c) can be levied in the case where the assessee surrendered the income voluntarily during the course of the assessment?
CBDT issues CORRIGENDUM to Notification No. 33/2020-Income Tax dated 23rd June, 2020, which dealt with Section 10(46) exemption to Greater Noida Industrial Development Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM Notification No. 53/2020-Income Tax New Delhi, the 22nd July, 2020 S.O. 2410(E).—In the notification of the Government of India, […]
