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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 : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
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...
Credit Linked Interest Subsidy scheme for tax paying Middle Classes made effective from January 1 this year. Those sanctioned house loans and applied for since January 1st eligible for interest subsidy of up to Rs.2.35 lakh each
These are cross appeals by the assessee and the Revenue emanating out of the orders of learned CIT(Appeals)-III, Nagpur for assessment years 2008-09 and 2009-10 respectively. Since the issues are connected and the appeals were heard together
Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017. Some of the important amendment proposed are as follows :- 1. Appointment of, and remuneration to, the ITAT Member 2. Make Aadhar card mandatory for filing […]
Union government has proposed making Aadhaar mandatory for filing income tax returns and for obtaining Permanent Account Number (PAN) through proposed amendments to the finance bill 2017. The government on 21.03.2017 proposed making Aadhaar mandatory for filing of income-tax returns as well as for obtaining and retaining the PAN. According to the amendments, from 1 […]
Revenue Secretary Dr Hasmukh Adhia tweeted on 21.03.2017 that In the official amendment to Finance Bill 2017 Govt has proposed that limit of 3 lakhs for cash transaction, beyond which it is illegal, be reduced to 2 lakhs. The penalty for violating this is a fine equivalent to the amount of transaction.
TDS- JAGRUKTA a movie by DTRTI, Kolkata in English, Hindi, Bengali, Marathi, Gujarati, Punjabi, Telgu, Tamil & Kannad has been released by Shri Gopal Mukherjee, Member ( Rev & TPS), CBDT.
All the cases where the return of income has been furnished in – (i) electronic form, and (ii) paper form. Commissioner of Income-tax, Centralised Processing Centre, Bengaluru
A Committee was constituted to carry out a one time count of all officers in the Income tax organization and identify such of those Group A officers as are presently on unauthorized leave or are absconding.
The functionality to rectify penalty orders passed in the System (Process flow from initiation of rectification to passing rectification order) is now available to the Users through the Rectification module of Income Tax Business Application (ITBA).
General Provident Fund (GPF) is a scheme designed to benefit the employees. In CPT a small portion of the employee’s salary is deducted and deposited with the government GPF office and at the time of retirement it is paid as a lump sum to help the employee lead his life peacefully in spite of retirement and loss of monthly income.
