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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 : 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 : 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...
Learn about tax implications of offshore indirect transfers of Indian capital assets by non-resident entities. Explore Vodafone case, amendments to Income Tax Act, and Explanation 5 of Section 9(1)(i).
Learn about income from house property, including self-occupied, let-out, and inherited properties. Explore tax implications, deductions, and key sections of the Income Tax Act.
Let’s compare and contrast the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS with the Income Tax Return (ITR)
Detailed analysis of Chandarani N. Goyal Vs ITO case where Mumbai ITAT ruled that money received as a security deposit, if refunded, is not taxable under section 56(2)(vii)(a) of the Income Tax Act.
In Chandresh P. Thakker vs National Faceless Assessment Centre case, Mumbai ITAT allows commission expenses if supported by evidence of services rendered by commission agents and income shown in return.
Mumbai ITAT clarifies that action under section 153C can’t be based solely on survey material. Detailed analysis of the case and its implications.
ITAT Mumbai overturns AO’s addition of Rs. 80 Lakh against mere Rs. 50,000 share capital infusion, ruling in favor of taxpayer’s proof of subscriber genuineness.
Learn about the ruling by ITAT Kolkata stating no deduction can be claimed if employees’ contributions deducted from salaries were not paid to PF & ESI accounts. Full order analysis provided.
Indian Oil Employees Welfare Cooperative Society Ltd. vs ACIT (ITAT Mumbai) case discusses the eligibility of cooperative society interest income under section 80P. Read the detailed analysis and conclusion.
Explore the worthiness of investing in NPS under Section 80CCD deduction for salary individuals/HUFs. Learn about tax benefits, registration process, and investment options.
