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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...
Where assessee made donation to political parties, same was not claimed as a deduction nor claimed by filing a revised return nor made a claim before the AO but same was claimed first time before the CIT(A), assessee was entitled to deduction.
Income of the assessee constituted earning outside India while the assessee was an NRI and mere receipt of the said sum in the assessee’s NRE account would not subject it to tax under the 1961 Act.
Determination of Fair Market Value for share other than quoted share. 11UAA. For the purposes of section 50CA, the fair market value of the share of a company other than a quoted share, shall be determined in the manner provided in sub-clause (b) or sub-clause(c),as the case may be,
These appeals preferred by the assessee emanates from the order of learned Commissioner (Appeals)-2, Jodhpur for assessment year 2008-09 vide order dated 19-11-2015; assessment year 2010-11 vide order dated 20-11-2015
Widening of tax base remains one of the important policy objectives of CBDT. Various steps have been taken to increase the tax base and the same have shown appreciable results. It is quite encouraging to note that almost 91 Iakh new taxpayers were added during FY 2016-17.
Where the impugned amount is not claimed by the assessee by way of deduction under sections 30 to 38 of the Act while computing the income of the assessee under the head Profits and gains of business or profession the question of making any dis allowance under section 40(a)(ia) of the Act will not arise
Hindustan Coca Cola Beverages Pvt. Ltd Vs. CIT (Rajasthan High Court) Issues Under Consideration (i) Whether in the facts and circumstances of the case the learned Tribunal was right and justified in holding that assessee was liable to withhold tax at source under S.194H of the Income Tax Act, 1961 amounting to Rs.19,74,842/- (including interest) […]
In this appeal, the assessee calls in question the order passed by the Income Tax Appellate Tribunal, Cochin Bench in I.T.A.No.375/14 for the assessment year 2005-2006.
CIT (Exemptions) Vs. Lord Krishna Charitable Trust (Punjab and Haryana High Court) Section 12AA prescribes the scope and ambit of the enquiry that the CIT is authorized to carry out at the time of grant of registration to a trust or institution. The scope of the enquiry revolves around the nature of the objects and […]
CBDT Central Action Plan for 2017- 18 deals with Budget Collection, Reduction and Cash Collection Out Of Arrear Demand, Litigation Management, Service Delivery and Redressal of Grievances, Assessment Units (Including International Taxation & Transfer Pricing, Exemptions) International Taxation & Transfer Pricing, TDS Units, Intelligence and Criminal Investigation, Exchange of Information under Tax Treaties, Computer Operations, Exemptions Related Work, CIT (Audit), Prosecution & Compounding of Offences (In Respect Of Prosecution U/S 276cc) and Communication Strategy.
