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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...
Understand the basics of Income Tax Returns and their significance. Learn about the five heads of income and how they affect your tax liability.
With a view to widen the scope of TDS applicability on payment of rent, in spite of already existing section 194-I, vide Finance Act, 2017, new section 194-IB had been inserted. Newly inserted section 194-IB of the Income Tax Act, 1961 was made effective from 1st June, 2017. The deductor, who is liable to deduct TDS […]
Avoid common mistakes in ITR forms to prevent notice from tax authorities. Learn how to file your income tax return correctly and avoid penalties.
Exemption of service element and disability element of disability pension granted to disabled personnel of armed forces who have been invalided on account of disability attributable to or aggravated by such service. Circular No. 13/2019-Income Tax F. No. 173/250/2019-ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, […]
Learn how to file your income tax return hassle-free. Discover tips and tricks to prepare well in advance and avoid the last-minute rush.
Section 44AE of The Income Tax Act, 1961 Special provision for computing profits and gains of business of plying, hiring or leasing goods carriages This section applies specifically on assessees carrying on business of plying, hiring or leasing good carriages. This section states that if an assessee is carrying on the above mentioned business then […]
With the due date of income tax return filing approaching soon, the taxpayers have started collecting the necessary documents and information. If you are providing professional services, your clients must have deducted TDS at the rate of 10 per cent while paying you. Similarly, the employers also deduct TDS every month while paying salaries to […]
EXPECTATIONS FROM FINAL UNION BUDGET 2019 TO SMALL INDUSTRY & COMMON MAN The Union Budget for 2019-20 will be presented in the Lok Sabha on Friday (5th July, 2019) at 11.00 am by newly-appointed Finance Minister Nirmala Sitharman. Expectations from Union Budget 2019 are as below:- A. Goods & Service Tax (Goods & Simple tax) […]
Learn the important steps to keep in mind while filing your income tax return for FY 2018-19. Find out which ITR form is applicable to you.
Know your rights as an assessee after your income tax return is processed. Learn about the different remedies available in case of grievances with the assessing officer.
