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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 2024: Understand how removing indexation can increase taxes on property sales, affect investment decisions, and alter the real estate market.
Explore the recent abolition of Angel Tax in the Finance Bill 2024. Learn about the history, provisions, challenges, and future implications for startups and investors.
Discover the key changes in the Finance Act 2024 affecting income tax assessment and reassessment. Learn about new provisions, implications, and deadlines.
Section 194T imposes Tax Deducted at Source on certain payments made to partners of a firm, including salary, bonus, commission, interest, or remuneration.
Budget 2024 proposes TCS on notified luxury goods over 10 lakh rupees from January 2025. Learn about this amendment to widen the tax net.
Learn about the merger of trusts under India’s tax exemption regimes as proposed in the Finance Bill 2024. Discover the conditions and implications under new Section 12AC of the Income-tax Act effective from April 1, 2025.
The Finance Bill 2024 proposes amendments to Section 11 of the Income-tax Act, enabling trusts to claim exemptions under new clauses (23EA), (23ED), and (46B) of Section 10 from April 1, 2025.
From April 2025, foreign taxes withheld must be included in total income for accurate reporting under section 198. Aims to prevent double deductions.
The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced holding periods, revised tax rates, and alignment of provisions for resident and non-resident taxpayers.
From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific changes for individuals and HUFs.
