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Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
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 : 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...
In the instant case, as mentioned earlier, the amounts received by assessee is nothing but loan / advance from NIPL and assessee is camouflaging the same as a commercial transaction relating to sale of property in order to get over the provisions of Section 2(22)(e) of the Income-tax Act.
The Amendment Under Section 254(2) In Respect Of Time Limit Of Six Months For Rectification Is Prospective And Applicable To The Orders Passed After 01.06.2016
The Central Board of Direct Taxes (CBDT) has entered into 7 more Advance Pricing Agreements (APAs) during the month of October, 2017. All these Agreements are Unilateral.
Interest payment cannot be permitted to be deducted against the remuneration earned by the assessee. It was submitted that the assessee was a working partner of the firm and the income earned by the assessee has no correlation with the capital contribution made by the assessee.
The salient features of the Country-By-Country Report and Master File rules are as under: The threshold for the Country-By-Country Report is total consolidated group revenue of Rs. 5,500 crore or more.
M/s. Google India Private Ltd. Vs. Addl. CIT (ITAT Bangalore); TDS on royalty payments under section 195(2): Applicability of DTAA cannot be determined suo-moto by AO without there being any application
Agreement between the Government of the Republic of India and the Government of the Government of New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes – Notification No. 93/2017 – Income Tax
CBDT has extended Due date for filing ITRs & Tax Audit Reports under Income Tax Act,1961 from 30.09.2017 to 07.11.2017 for those who were liable to file ITRs by 30.09.17. The Extension was first announced on Twitter at 10.21 PM on 31.10.2017 and later by way of press release on pib.nic.in at 11.35 PM. Further […]
Income declared cannot be called retraced if same was included in 2nd revised return but not in Original and First Revise Return further Sec. 271AAA(2) not mandates offering of undisclosed income in return of income.
CBDT further extends the ‘due-date’ for filing income-tax returns and reports of audit pertaining to Assessment Year 2017-2018 from 31st October, 2017 to 7th November, 2017
