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Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
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 : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
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 Budget 2018 has touched upon almost every sector, while not disrupting the overall economic environment. It aims to provide the necessary push in field of infrastructure, farming, rural household provisions, education, and biggest of all, healthcare, for the common man.
This is off course an Election Budget which balances populism and discipline, but salaried class and investors are disappointed. A Union Budget blended with prudent economics and electoral populism, delivered by Finance minister on 1.2.2018, that placed villages at the Centre of a new development framework but maintained reformist intent and fiscal discipline.
This is the first budget after enforcement of GST.Finance Minister Shri Arun Jaitley presented general Budget for 2018. Let us have a simple review on the Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors.
Corporate Tax of 25% extended to companies with turnover up to Rs 250 cr in financial year 2016-17 No Change In Tax Slabs For Individuals. 100% deduction of income for Producer Companies. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried tax payers
The notification notifying ICDS is contrary to the settled law since its implementation would nullify the judgements of the Supreme Court and the High Courts. This method of overriding the binding decision of Courts by the executive was contrary to law explained in Shri Prithvi Cotton Mills Limited v. Broach Borough Municipality (1969) 2 SCC 283.
Finance Minister Arun Jaitley has done well by announcing measures to help MSMEs and job creation in the last full Budget of the current government
As you may be aware, World Bank’s Global Economic Prospects has estimated that India is likely to regain the position as the fastest growing economy in 2018 with growth expected to accelerate to 7.3 per cent in the year. For 2017
Income-tax Clause 2, read with the First Schedule to the Bill, specifies the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2018-2019. Further, it lays down the rates at which tax is to be deducted at source during the financial year 2018-2019 from income other than […]
Tax incentives for International Financial Services centre. Transfer of derivatives and certain securities by non-residents exempted from capital gains tax. Non-corporate taxpayers operating in IFSC to be charged alternate minimum tax at concessional rate of 9% at par with minimum alternate tax applicable for Corporates.
Shri Arun Jaitley proposed that no adjustment shall be made in a case where the circle rate value does not exceed 5% of the consideration. While presenting the General Budget 2018-19 in Parliament here today, he said, Currently, while taxing income from capital gains, business profits and other sources in respect of transactions in immovable property, the consideration or circle rate value, whichever is higher, is adopted and the difference is counted as income both in the hands of the purchaser and seller.
