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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 : 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 : 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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
BUDGET – 2019 INTERIM UNION BUDGET, 2019 INCOME TAX 1.There is no change in Income-Tax Slab Rates. 2. Section 87A ‘Relief to tax payers’ is being amended to provide relief to the individual taxpayers by increasing the maximum amount of tax rebate to Rs. 12500/- from existing Rs. 2500/- for the taxpayers having total income up to […]
On First February of 2019, Honorable Interim Finance Minister CA. Piyush Goyal presented the budget in parliament for FY 2019-20. He also talked about various amendments that will take place in Income Tax Act from next financial year. In this article I tried to summarize and explain those amendments in simple manner. The following are […]
Shyam Sunder Duggal Vs ACIT (ITAT Mumbai) The only grievance of the assessee is that the Ld.CIT (A) has wrongly confirmed the addition of Rs. 7,77,000/- made by the AO by making disallowance of fees paid to Portfolio Managers. As is clear from the record that the assessee paid Rs. 7,77,744/- to PMS providers and […]
The Interim Finance Minister Shri Piyush Goyal Presented the interim budget on February 01, 2019 in Lok Sabha on which he told about the various amendments in Income Tax Act 1961 through Finance Bill 2019. The Main relief to individual taxpayers is Rebate u/s 87A of Income Tax Act which increased the limit of rebate […]
Finally, Interim Budget 2019 by our interim Finance Minister Mr. Piyush Goyal is on our desk for review. This budget holds high expectations from the end of Middle-Class People who had been ignored since so long, from the farmers who were overburdened in debt, from MSME Sector who was much in finance distress, from the unemployed youth who has crossed the level of 7.1% which is the highest in last 45 years.
CBIC Notifies applicability of CGST (Amendment) Act, 2018 with effect from 1.02.2019 vide Notification No. 02/2019 Central Tax Dated 29.01.2019. The amendment has following effects:
Budget addresses both the current challenges faced by the economy and outlines the vision for the future: Sandip Somany, President, FICCI NEW DELHI, 1 FEBRUARY 2019: Reacting to the Interim Budget 2019-20 presented in Parliament today, Mr. Sandip Somany, President, FICCI said, “It is a progressive budget that addresses both the current challenges being faced by the economy as well […]
Interim Budget 2019: Friday, 01 February 2019 The Interim Budget presented by Piyush Goyal is the last Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May 2019. Goyal, who has been given charge of the finance portfolio in place of Arun Jaitley who is in […]
Article contains analysis of Union Budget 2019 provisions for Income Tax Rates for Financial Year 2019-20, Standard deduction from Salary Income [AY 20-21 Onwards], House Property Income [AY 2020-21 Onwards], Capital Gains Income, TDS and Tax Deduction Income Tax Rates for Financial Year 2019-20 Foreign Company: [AY20-21] No change in Corporate tax rates. Effective tax […]
Interim budget during the last season of Lok Sabha 2019, witnessed one of the populist interim budget. While the Government had eyed to please the commoners, the Finance Ministry played a master stroke, which most of us are not aware. While many of the analysts are keen on the overall impact on the public savings […]
