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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...
“As evident from a plain look at the ground of appeal, the actual grievance of the appellant is not on merits but on the legal issue regarding limitations on the powers of the CIT(A) on the ground that post 1st June 2001
A bare perusal of the provision contained in Section 153C of the I .T. Act leaves no doubt that, as is provided under Section 158BD, where the Assessing Officer, while proceeding under Section 153A against a person who has been subjected to search and seizure under Section 132(1)
Avoid common mistakes while filing your IT returns! Choose the correct ITR form and save time and effort for yourself and the IT department.
It is an admitted fact that the assessee has changed the method of depreciation from straight line method to written down value method. Deprecation has been calculated in accordance with the new method from the date of assets coming into use.
The assessee is engaged in business of auto spare pails and investment in bonds, mutual funds and other securities. The assessee filed his return declaring STCG on the basis that the shares were purchased with an intention of investment.
New versions of the Return Preparation Utility (RPU) version 3.9 and File Validation Utility (FVU) version 4.2 and 2.138 have been released by NSDL. The above versions are now mandatory to be used with effect from April 26, 2014, for TDS statements pertaining to FY 2010-11 and onwards.
Kaushal Agrawal Learn, understand and memorise 1. Why agricultural Income has been made exempted. 2. What is rider? 3. Definition of agricultural Income. 4. Computation of agricultural income 5. Part agricultural income and part non agricultural income of tea, coffee and rubber. 6. Partial Integration of agricultural Income with non agricultural Income.
As you may be aware, the department has been working on a project to create an electronic database of all income tax appeals and judgments of the ITAT, HCs and the Supreme Court. The project is titled the National Judicial reference System (NJRS), and is being taken up under the Directorate General of Income Tax (Legal & Research). The project is expected to provide information which will enable all officers to take timely action in appeal matters, aid decision making and improve litigation management in the department in general. A brief note on the project is attached for your reference at Annexure A.
Notification No. 25/2014-Income Tax In exercise of the powers conferred by clause (xii) of sub-section (1) of section 36 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the National Bank for Agriculture and Rural Development (PAN: AAACT4020G) established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (No. 61 of 1981)
Sri Sivani Educational Society Vs. ITO (ITAT Visakhapatnam) Chit fund business is governed by the principles of mutuality and contribution to a chit fund is contribution to oneself on the principle of mutuality and hence, it is not an investment as contemplated by section 13(1)(d) read with section 11(5) of Income Tax Act, 1961. As […]
