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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 : 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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
F.NO.279/MISC./M-171/2013-ITJ In this connection Circular No 1/2014 dated 15.01.2014 has been issued by MCA to Regional Directors which lays down that while furnishing any report regarding reconstruction or amalgamation of companies under the Companies Act, comments and inputs from the Income Tax Department may invariably be obtained so as to ensure that the proposed scheme of reconstruction or amalgamation has not been designed in such a way as to defraud the Revenue and consequently being prejudicial to public interest. It has further been said that the Regional Directors
I am attaching herewith book titled ‘Fast Track Quick Revision of Income tax for AY 2014-15’, which can be extremely useful for students who are appearing for for CA, CS, CMA exam May / June 2014 attempt.
DOWNLOAD INCOME TAX CALCULATOR IN EXCEL FORMAT FOR ASSESSMENT YEAR 2015-16 / FINANCIAL YEAR 2014-15. Salient features of the Simple tax calculator. Simple tax calculator for the use of salaried employees of govt and private sector.Easy use of calculator- Key in the salary details and investment/tax saving details yellow colored cell to compute the tax.
Central Government has vide Notification No. GSR 225(E), Dated – 13-3-2014 fixed initial minimum subscription in PPF at Rs. 100 by amending the para 4 of Public Provident Fund Scheme 1968. Earlier there was no minimum fixed amount of deposit for opening of PPF account but the condition was that amount of initial subscription shall be integral multiples of Rs.5.
The element of factual possession and agreement are contemplated as transfer within the meaning of the aforesaid section. When the transfer is complete, automatically, consideration mentioned in the agreement for sale has to be taken into consideration for the purpose of assessment of income
The facts of this case are that the petitioner lost its appeal before the Commissioner of Income Tax (Appeal) on 20.11.2013. The revenue issued notice under Section 221 for determined demand amounts due for the AY 2007-08, which was subject matter of the appeal before the CIT (Appeals).
The obligation of an enterprise to keep and maintain records and documents vis-a-vis the duty of revenue authorities to verify about the compliance with the arm’s length principle has been succinctly stated by the OECD in their Transfer Pricing Guidelines:
Deposits or advances given to the parties which was written-off latter in the scheme of amalgamation, were neither a capital assets nor there was any transfer, thus no capital loss is allowed to be carried forward to the subsequent year. Thus held that irrecoverable advances written-off are not a transfer and the loss cannot be claimed as capital loss.
CA Sandeep Kanoi CBDT has vide press release dated 07.04.2014 has released online and offline utility for e-Filing of ITR 1 (SAHAJ) & ITR 4S (SUGAM) for AY 2014-15. CBDT has earlier notified the same ITR forms vide its NOTIFICATION NO. 24/2014, Dated: April 1, 2014.
1. The process of electronically filing Income tax returns through the internet is known as e-Filing. 2. e-Filing of Returns/Forms is mandatory for : Any assessee having total income of ₹ 5 Lakhs and above from AY 2013-14 and subsequent Assessment Years. Individual/ HUF, being resident, having assets located outside India from AY 2012-13 and […]
