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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 : 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...
The subsequent reversal of the legal position by the judgment of Hon’ble Supreme Court does not authorize the department to reopen the assessement which stood closed on the basis of the law, as it stood at the relevant time.”
Persons who are not liable to pay service tax (because of an exemption including turnover based exemption), are not required to file ST-3 return in terms of Circular No.97/8/07-ST dated August 23, 2007 and cited judgement. Even if service tax return is filed late/ failed to file return – No Penalty in terms of Rule 7C of the STR. For Nil return Assessee is not even required to opt for VCES.
Explore Income Tax Act assessments, appeals, and writ jurisdiction. Understand when to use Article 226, backed by a Supreme Court judgment.
CA Sudhir Halakhandi – The utility of 3CD/3CB, even after correction made in it , is not a user friendly utility and we have already indicated some of the mistakes in it. Some more mistakes were noticed by other experts and chartered accountants and the same were reported at various places in workshops and seminars related to this new feature which has been added to the work of chartered accountants.
India signed a Protocol amending the India – Morocco Double Taxation Avoidance Convention (DTAC) in New Delhi today. The Protocol was signed by Dr Sudha Sharma, Chairperson, Central Board of Direct Taxes on behalf of Government of India and H.E. Mr. Larbi Reffouh, Ambassador of the Kingdom of Morocco to India on behalf of Government of the Kingdom of Morocco.
Briefly, the facts necessary for adjudication of the controversy involved, as narrated in the appeal, may be noticed. The respondent-assessee is a company engaged in manufacture of hosiery goods at Ludhiana.
Generally August month of any year is considered to be a relaxed month when you relax after filing you income your income tax returns, enjoy the rainy weather and green fields and scenic beauty all around. With rains, the picnic and get togethers add fun to the celebration.
Notification No. 61/2013 – Income Tax Eligibility. 1. The following shall be eligible to subscribe to the bonds:— (a) Retail Individual Investors (RIIs); (b) Qualified Institutional Buyers (QIBs); (c) Corporates.- (including statutory corporations), trusts, partnership firms, limited liability partnerships,
The due date for filing of Income Tax Return for Individuals, HUFs and non-auditable cases for A.Y. 2013-14 was extended by the Central Board of Direct Taxes (CBDT) from 31st July to 5th August, 2013 as there was an overwhelming response to e-filing from every corner of the country. 123.03 lakh returns have been e-filed till 5th August, 2013 which is 68.3% higher than 73.11 lakh returns e-filed in the corresponding period during last year.
Gross direct tax collections during April-July of the Financial Year 2013-14 is up by 13.27 percent at Rs. 1,57,169 crore as against Rs. 1,38,751 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of 9.75 percent and stands at Rs. 92,115 crore during April-July in F.Y. 2013-14 as against Rs. 83,932 crore in the same period last year.
