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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...
OFFICE ORDER NO. 222 OF 2018 On return from Deputation, the following officers are, hereby, posted as Pr. CIT (OSD) in the Principal (CCA) CCIT Region as indicated against their names, as per TPG, 2010, with effect from the date of their reporting back to the Board and until further orders: –
Notification No. 21 The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the pay matrix Rs. 67700-208700/- with effect from the date as indicated against their name or the date of assumption of charge, whichever is later: –
Where AO had made addition of proportionate interest paid on borrowed funds on the allegation that assessee dealing in share-trading had converted its opening stock of shares to investments, the matter was remanded back to AO to determine the actual date of conversion of shares before computing any disallowance.
A Training Environment has been introduced in the Investigation Module of ITBA to enable officers posted in the Investigation Directorates to have a dry run of the process for recording details of search and survey proceedings and generating Two Hourly Report, Preliminary Search Report and Appraisal Report.
Procedure, format and standards for filing an application for grant of certificate for deduction of Income-tax at any lower rate or no deduction of Income-tax under sub-section (1) of Section 197/collection of the tax at any lower rate under sub-section (9) of Section 206C of the Income-tax Act, 1961 through TRACES
Since assessee had a reasonable cause for non-deduction of TDS, penalty u/s 271C not leviable in terms of section 273B.
Binoy Gupta* What really is good management? I think in real life, you are a good and successful manager, if you have managed all the good things of life – a good wife, good postings, trainings abroad, etc. I had a couple of officers flying to Delhi almost every week. Their total air travel bills […]
The President is pleased to appoint the following IRS officers in the grade of Assistant Commissioner of Income Tax (Junior Scale) in the Level 10 in the pay matrix Rs. 56100-177500 in a substantive capacity in the grade with effect from the date(s) indicated against each of them: –
The most important aspects of a public service, public oriented, public contact department, like the Income Tax, are public relations, grievances and corruption. It is extremely important to handle these aspects in a meaningful and effective way.
Who are angel investors? Angel investors (also called informal investors, angel funders, private investors, seed investors or business angels) are affluent individuals who inject capital for startups in exchange for ownership equity or convertible debt These investors invest their money in an entrepreneurial company unlike institutional venture capitalists, who invest other people’s money. Unlike venture capitalists […]
