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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...
Hon’ble Supreme Court had categorically held that the twin conditions are to be satisfied cumulatively by the ld CIT before invoking his jurisdiction u/s 263 of the Act viz (i) order of the AO should be erroneous and (ii) it should be prejuducial to the interests of the revenue
CIT (Exemptions) Vs Baroda Cricket Association (Gujarat High Court) 1. By this appeal under section 260A of the Income Tax Act, 1961, the appellant Revenue has challenged the order dated 11.06.2019 made by the Income Tax Appellate Tribunal, Ahmedabad Bench ‘B’ in ITA No.2675/Ahd/2017 for assessment year 2014-15 by proposing the following three questions stated […]
INTRODUCTION ‘Benaml’ means ‘no name’ or ‘without name’. Benami properties are those that ore held by an owner through proxies. The property is purchased in the name of or held In the name of a person who has neither paid for it nor actually enjoys it it may even be held in the name of […]
Thank you Taxpayers … Your Income Tax is making it possible for more Indians to access quality healthcare. Pay your 4Th & final installment (100% of Advance Tax) for FY. 2019-20 by 15th March, 2020 Taxpayers liable to pay Advance Tax Any assesses, including salaried employee, whose tax liability for the financial year as reduced […]
Article explains When to withdraw money from PPF or take loan against PPF Deposit, Extracts of Public Provident Fund Scheme, 2019 facilitating loan from PPF account, Different between Loan From PPF and Withdrawal of PPF amount, Who can avail loan facility against PPF, How much loan you can take against PPF and Withdrawals from PPF […]
The Central Board of Direct Taxes (CBDT), has released the final rules through a notification (N No. 3497(E) on preparation and filing of Master file by the Indian Entity of an International group. The brief of the rules as notified and the documentation/information requirements as needed for the filing are summarized herewith for your reference.
File your Income Tax Return (ITR) online easily with these simple steps. Don’t miss the last date for filing and ensure compliance with the income tax regulations.
Some would say December is, end of the year – good, bad, worst or phenomenal it is still coming to an end. So we make resolutions which are broken before the first week of January ends.
When a assessee is not meeting the following conditions then he is considered as NRI: 1. When assessee is in India for 182 days during previous financial year.
You can save your Income Tax lawfully.There are various deductions available through which you can save your tax.Utilize the investment process properly for your tax planning.We will discuss about the same:- DEDUCTION U/S 80C, DEDUCTION U/S 80D, DEDUCTION U/S 80E, DEDUCTION U/S 80TTA
