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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...
Functionality for processing Paper ITRs filed for AY 2016-17 in Forms ITR-1, 2, 2A and 4S will be available w.e.f. 04.2017 in Income Tax Business Application (ITBA).
It is held that the receipts in the hands of the employees of the HPF, pursuant to the severance package announced by the Central Government and intimated vide proceedings/circular is held to be a special privilege/protection granted to the employees of the HPF Ltd and therefore, the provisions of the Section 10(10B) of the Income Tax Act, 1961 are attracted and accordingly, the same shall not fall within the definition of income, while computing the total income of concerned employee and income tax cannot be deducted from the severance package paid to the employees of HPF.
Central Government hereby specifies Director, Vigilance and Anti-Corruption, Government of Tamilnadu for purposes of the section 138(1)(a)(ii)
CBDT has vide notification No. 21/2017 released ITR for Assessment Year 2017-18 / Financial Year 2016-17 and Same can downloaded from the link given at the end of the post. the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.
In Shiva Laxmi Exports Ltd Vs CIT, the division bench of the Calcutta High Court held that interest income could not said to have had accrued when the same was waived by the Company by passing a resolution. While deleting the addition made in respect of the said income, the bench clarified that such income is excludable from the levy of income tax.
Rule made returnable forthwith. The learned Counsel for the respondent, waives service. Heard finally by consent of parties. The petitioner is a Company engaged in the business of manufacturing base station antennas, microwave antennas, R.F. cables, jumpers and connectors and trading in related products.
Share Premium Amount collected by Company on its subscribed issued share capital is not and cannot be said to be part of capital employed in business of Company for Section 35D(3)(b)
India Inc should work for the July 1 roll out of the Goods and Services Tax , which would take the country into very exciting phase of tax administration, Finance Secretary Mr Ashok Lavasa said at an ASSOCHAM Managing Committee meeting in New Delhi today.
No. 05 (F. No. A-23012/412017-Ad.V1): The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed to officiate as Deputy Commissioner of Income Tax (Senior Time Scale) in the Pay Scale of Rs. 15,600-39,000/- (Plus Grade Pay of Rs. 6,600/- in pay Band-3) (Pre-revised) with effect from 01.04.2017 or the date of assumption of charge. whichever is later
No. 04 (F. No. A-23012/312017-Ad.VI): The President is pleased to appoint the following IRS officers in the grade of Assistant Commissioner of Income Tax (Junior Scale) in the Pay scale of Rs. 15,600 – 39,000/- (Plus Grade pay of Rs. 5,400/- in Pay Band-3) (Pre-revised) in a substantive capacity in the grade with effect from the date(s) indicated against each of them
