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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 : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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...
Discover key changes and updates in the latest Income Tax Return (ITR) Forms for AY 2024-25. Explore eligibility criteria and features of each form for seamless tax filing.
Learn about the tax implications for startups, including eligibility criteria, benefits, and procedures for recognition, exemption, and declaration.
Stay compliant with Indian tax laws. Learn about Income Tax, PF, and ESI deadlines for June 2024. Important due dates, forms, and who should file.
Explore the legality of issuing a second notice under Section 148 of the Income Tax Act, 1961 for the same assessment year. Understand the procedural aspects and judicial precedents influencing this aspect.
Assessee was a commercial bank having its head office in France and had 8 branches in India. Assessee was involved in normal banking activities including financing of foreign trade and foreign exchange transaction
Explore the Delhi High Courts decision on whether intimation under Section 143(1) can be revised under Section 264 of the Income-tax Act, 1961. Learn the implications for taxpayers.
ITAT Delhi rules against Section 41(1) addition when no cessation of liability occurs, directing cancellation of a demand in the case of Late Sh. Mahender Kumar Mittal vs. ITO.
CBDT has provided CII for financial years 1981-82 to 2024-25. This index is crucial for calculating indexed cost of acquisition, which adjusts purchase price of an asset for inflation.
Delve into the detailed analysis of the ITAT Agra case between Manish Kumar Shukla and ITO regarding the mandatory examination of books of accounts before rejection. Full text order included.
ITAT Agra deletes penalty levied u/s 271(1)(b) in Ganeshi Lal Narayan Das vs DCIT, citing procedural fairness and assessees bona fide belief. Full text order included.
