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Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find ...
Income Tax : Understand amendments in Section 200(3) of the Income Tax Act, effective via Finance Act 2024, impacting TDS correction deadlines ...
Income Tax : Learn about the Lower Deduction Certificate under Sections 197 & 206C(9) of the Income Tax Act. Understand eligibility, applicatio...
Income Tax : Income of minors is clubbed with parents' income unless earned through personal skill or manual work. Tax planning strategies can ...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
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 : ITAT Kolkata ruled that filing Form 67 for Foreign Tax Credit (FTC) under DTAA is procedural, not mandatory. Read key takeaways fr...
Income Tax : Bombay High Court remands Hicons Developers case to tribunal, citing breach of natural justice. Payment required for rehearing....
Income Tax : Supreme Court permits Sanjay Bhandari to present all arguments in tax case. Appeal timeframe extended, limitation waived....
Income Tax : ITAT Chandigarh upholds CIT(A) order, deleting additions under Section 153A, citing absence of incriminating material found during...
Income Tax : ITAT Pune remands Bandgar vs. ITO case for fresh adjudication on property valuation and income tax additions under sections 56(2)(...
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...
There is no dispute with regard to the fact that creditors do fall within the category of specified persons contemplated in section 40A(2)(b) of the Act. Short question before us is, whether payment of interest at the rate of 18% to such persons on the loans availed from them is excessive or not, having regard to the fair market value of such loans.
Budget at a Glance presents broad aggregates of the Budget in a reader-friendly document. This document shows receipts and expenditure as well as the Fiscal Deficit (FD), Revenue Deficit (RD), Effective Revenue Deficit (ERD), and the Primary Deficit (PD). of the Government of India
Government says that it is firmly on course to achieve high growth of 8% plus as manufacturing, services and exports are back on good growth path. While GDP growth at 6.3% in the second quarter of 2017-18 signalled turnaround of the economy, growth in the second half is likely to remain between 7.2% to 7.5%. […]
The list of Budget documents presented to the Parliament, besides the Finance Minister’s Budget Speech, is given below
Budget 2018-2019 Speech of Arun Jaitley Minister of Finance February 1, 2018 Section I Governance, Economy and Development Madam Speaker, 1. I rise to present the Budget for 2018-19. 2. Madam, four years ago, we pledged to the people of India to give this nation an honest, clean and transparent We promised a leadership capable […]
Download Union Finance Budget 2018 as presented by Finance Minister Arun Jaitley today in Lok Sabha AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2018 Bill No. 4 of 2018 THE FINANCE BILL, 2018 Download Union Finance Budget 2018
Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament. Budget guided by mission to strengthen agriculture, rural development, health, education, employment, MSME and infrastructure sectors. Government says, a series of structural reforms will propel India among the fastest growing economies of the world. Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path.
> To reduce the cost of capital for the MSMEs by improving lenders access to low-cost funding sources. > Lowering of income tax rates for businesses and professionals. This will also encourage them to wider taxation coverage. > From a digital perspective expect more incentives on digital payments and by bringing some changes in direct […]
These petitions and appeals filed by the department arises due to the order of various High Courts, granting benefit of depreciation on the assets acquired by the assessee registered as charitable institutions under section 12A of the Income Tax Act (Act).
There is no condition for co-operative society to be engaged in the activity of providing credits to the members or banking business for availing of the deduction under section 80P(2)(d).
