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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...
The CBDT has issued a directive to All Pr. Chief Commissioners of Income Tax seeking details of 2 least performing CsIT (Appeals). It is not specified as to what constitutes least performing. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi the 27th July, 2018 To, All Pr. Chief […]
This being the first quarter of the financial year, it is important, for all the people who want to receive interest without deduction of tax, to submit form no. 15G and 15G immediately to the banks Recently the in respect of particulars to be furnished and how to furnish these forms have been substantially amended. Let us discuss as to who can submit form no. 15G and 15H and the precautions to be taken while filing these forms.
Tax benefits to individual who are differently able, Parents who have dependents who are differently able including minor and certain benefits to private sector for providing employment opportunities to differently able
CA Neil Ganatra Any person responsible for paying income chargeable in the hands of recipient as ‘Salaries’ shall make TDS under section 192 of the Income Tax Act, 1961. The article discusses some basic aspects of the provisions of the section 192 related to deduction of TDS on Salary. The basic conditions that attract compliance […]
Now you can view tax credit statement (Form 26AS) without registering at NSDL through www.incometaxindiae filing.gov. in .New facility added in “My Account” for registered E-filers to View the Tax Credit Statement (Form 26AS) to verify if the tax payments made by you or TDS deducted from salary or interest etc are correctly reported to the Department.
In this article we have discussed which ITR is applicable for a Particular Assessee for Assessment Year 2018-19 i.e. for Financial Year 2017-18.
If we can plan well, we can save tax on mutual fund returns. In this article, I would explain you as to how mutual fund returns are taxed and possible ways to save tax on such returns.
The Special Judge for CBI Cases, Mumbai has convicted Shri Dayashankar, the then Commissioner Income Tax (Appeals), Bandra Kurla Complex, Mumbai and sentenced him to undergo 04 years Rigorous Imprisonment with fine of Rs.2,50,000/- in a bribery case.
Every professional of this country must remember what they were doing at 5.22 PM on 26th July 2018. They were busy with calculations, figures and looking towards their wristwatch about the probable time to leave their offices in these busy moments of ITR filing. It was an active day, but an extension of two weeks […]
Article presents Questions and Answers on Section 192 of Income Tax Act, 1961 related to TDS on Salary. Q.1. Who is responsible to deduct tax on Salary under Section 192 of Income Tax Act, 1961? A.1. All persons paying salary are responsible to deduct TDS on income chargeable under the head “Salary”. In other words […]
