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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...
Learn about how the holding period of property impacts Capital Gain tax, including ITAT’s recent decision clarifying calculations from the allotment date.
Naveen Bolia Vs ITO (ITAT Jodhpur) The case of Naveen Bolia Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) Jodhpur, revolves around the legality of assessment and the merits of certain additions made by the Assessing Officer (AO). The appellant, Naveen Bolia, challenged the assessment order on two primary grounds: the legality of […]
Penalties under Section 271(1)(c) cannot be imposed based on estimated additions without concrete evidence of concealment or inaccurate particulars of income.
Missed the ITR filing deadline? Learn the penalties, interest charges, and restrictions. Understand the consequences and how to file belated or updated returns.
Learn about the new Section 194T, its implications on TDS for partners’ remuneration, and the interplay with Section 40(b) from the latest budget amendment.
Rajasthan High Court rules on CIT Kota Vs World Wide Stone case, addressing deductions under Sec. 80 IB for activities involving mining, cutting, and polishing.
Discover Section 194T’s new TDS regulations on payments to partners, including salary, commission, and interest. Effective April 2025, learn key provisions and compliance tips.
Explore how the removal of indexation benefits in the Finance Bill 2024 impacts taxpayers, despite lower tax rates on long-term gains. Understand the implications for residents and non-residents.
Office Order No. 125/2024: Immediate transfers and postings of Principal Commissioners and Commissioners in Customs and Indirect Taxes. Check the detailed list here.
Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankruptcy Code, 2016, as clarified by the MCA.
