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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Main arguments of the assessee that the addition and adjustment made to the total income are to be based only on incriminating material found during the course of search fails, then only the other issues in the appeal of the revenue as well as of the assessee will survive.
The revised SHRs apply for AY 2017-18 and two immediately following AYs i.e. upto AY 2019-20. The earlier SHRs were applicable from AY 2013-14 and four immediately following AYs i.e. upto AY 2017-18. For AY 2017-18, the taxpayer can choose from old or new rules whichever are more beneficial.
Marketing activities undertaken by one enterprise not owning the trademark or brand name lead to the creation of marketing intangibles for the legal owner of such trademark or brand name. Indian enterprises having the right to use the brand name owned by their associated enterprises incurs the advertisement, marketing and promotional expenses (AMP Expenses) to get the benefit in the form of increased sales, higher profit etc. This in turns benefit the legal owner of the brand name i.e. associated enterprises.
CBDT has changed nature of business codes for income tax return forms from A.Y. 18-19. Before filing of Income tax return ensure correct business sector along with correct business code has been selected.
These are the appeals filed by the different assessees against the separate orders of the ld. CIT(A) Ajmer dated 05/10/2017 for the A.Y. 2013-14 in the matter of order u/s 143(3) of the Income-tax Act, 1961 [hereinafter referred to as ‘the Act’, for short
Where assessee- trust was earning profit up to 45% from its educational activities, it was clearly proved that it was existed for profit because profit up to 15% could be said reasonable and legitimate, hence, addition was rightly made.
DCIT Vs M/s. Gujarat Microwax Pvt. Ltd. (ITAT Ahmedabad) ITAT held that the Commission income in the hands of foreign agent is not chargeable to tax in India in the given facts & circumstances and Once an income is not chargeable to tax in India then the question of deducting TDS under the provision of […]
This appeal by assessee has been directed against the order of the Ld. CIT(A)-22, New Delhi, dated 17th April, 2017, for the A.Y. 2009-2010.
M/s Mirik Commercial Pvt. Ltd. Vs Pr. CIT (ITAT Kolkata) The purpose of Section 2(22)(e) of the Act is to tax the benefit extended by private limited company to its shareholders holding shares not less than 10% as beneficial owner of shares (not being shares entitled to a fixed rate of dividend income). There is […]
This appeal by the assessee is directed against order dated 15/06/2012 of learned Commissioner of Income-tax (Appeals)-XXXI, New Delhi [in short ‘the CIT-(A)’] for assessment year 2007-08 raising following grounds
