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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 : 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 : 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 : 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 Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
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 this comprehensive guide, we delve deep into the nuances of Form 61A, exploring its significance, eligibility criteria, filing procedures, penalties, and more.
Delve into the taxation of mangoes in India, from exemptions for farmers to GST rates for processed products. Learn how taxes impact the beloved summer fruit.
Reassessment proceedings initiated by officers without jurisdiction and completed by different officers without recording fresh reasons are legally untenable.
Discover eligibility, conditions, exemptions, and examples under Section 54 for capital gains on the transfer of residential house property. Learn who qualifies, what’s required, and how to utilize the benefits.
Learn about the case of Skybridge Solutions Private Limited vs. DCIT (ITAT Hyderabad) regarding the final assessment order passed under Section 144C without objection against the draft assessment order. Understand the implications and key takeaways from the judgment.
Explore the benefits of private trusts as an alternative tool for succession planning, ensuring fair and transparent asset transfer while addressing taxation and legal considerations.
Learn how Fair Market Value (FMV) impacts issue price of equity shares and tax implications under Income Tax Act. Essential guide for investors and companies.
ITAT observed that reasons recorded by AO for reopening assessment did not mention name of assessee’s broker or specific details implicating assessee in fraudulent CCM transactions. Information provided did not establish a direct link between assessee and alleged tax evasion practices.
Upesi Ventures Ltd. vs. ACIT: Bombay High Court nullifies reassessment notice for AY 2015-2016. Analysis of stock details reveals no income escape. Full judgment here.
ITAT rejected the assessee’s contention of limited scrutiny, stating that the notice under section 143(2) did not specify such limitation.
