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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 : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
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 deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
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 : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
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 : 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...
Constitution is the foundation and source of powers to legislate all laws in India. Parliament, as well as State Legislatures gets the power to legislate various laws from the Constitution only and therefore every law has to be within the vires of the Constitution.
Newly inserted Section 80CCG provides deduction wef assessment year 2013-14 in respect of investment made under notified equity saving scheme. The deduction under this section is available if following conditions are satisfied:
Finance Bill, 2012 – No provision was proposed in Finance Bill, 2012 to exempt the income of Prasar Bharati. Finance Bill, 2012 as passed by Lok Sabha – A new clause (23BBH) shall be inserted in Section 10 to exempt the income.
We know that investment in residential property or Flats is one of the common investment avenue for individuals. Here we are trying to summarise the tax implication on sale of residential property and tax planning to save tax on the Capital Gain arising on the sale of such property.
Recovery of outstanding arrears is an on going process. So far as recovery of outstanding arrears pertaining to direct taxes is concerned, the case of outstanding dues of Rs. 1 crore and above are regularly monitored at a senior level in the Income Tax Department through the mechanism of dossiers to ensure expeditious recovery. Further more, recently in cases where the assesses are not traceable or in whose cases assets as per available information are inadequate, detailed standardized procedure has been outlined to accelerate recovery resulting in detection of certain bank accounts.
The Chief Commissioner of Income Tax, Pune invites applications from qualified Chartered Accountants/firms of CAs for empanelment to carryout Special Audit u/s 142(2A) of the I.T.Act, 1961. The remuneration for the Special Audit is governed by Rule 14B of the I.T.Rules, 1962.
Income Tax Department, Jaipur invites applications from Advocates / ex officers of the Income Tax Department / ex Members of the ITAT having requisite qualifications and experience for empanelment as Senior / Junior Standing Counsel to represent the Income Tax Department before the Jaipur Bench of Rajasthan High Court and other appellate forums.
Note for information of prospective candidates for Departmental Examination – 2012 for ITO/ITI. 1. Online Application for Departmental Examination – 2012 for ITO/ITI . For the Departmental Examination 2012 for ITO/ITI application forms will be accepted online. Benefits of online application
Notice for filing Form-8 & 11 for the Financial Year ended 31-03-2012 All LLPs registered upto 30-September-2011 have to mandatorily close the financial year as on 31-03-2012 and file Form-11 by 30-May-2012 and Form-8 by 30- October-2012.
Income Tax Department, Applications are invited for empanelment of Senior Standing Counsels and Junior Standing Counsels for representing the Income Tax Department in the High Court of Delhi.
