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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...
Foreign companies or firms or an association of individuals does not file a return of income with regard to its liaison office on the ground that no business activity is allowed to be carried out in India. In order to inquire about regular information from non-resident entities in respect of the kind of activities conducted by their liaison offices in India, the Government of India in the Union Budget 2011 had introduced Section 285 to the Income Tax Act. As per this section non-resident entities having liaison offices in India are required to submit prescribed annual statement in respect of their activities to the tax authorities within 60 days from the end of the financial year.
ITAT held that a right acquired by the taxpayer to convert advance given into equity shares falls under the definition of ‘Capital Assets’ as per Section 2(14) Income-tax Act,1961 (the Act). Accordingly, the compensation received for foregoing right to acquire equity shares is a transfer of ‘Capital Assets’ and is taxable as capital gain under the Act.
the persons who merely execute the civil construction work or any other work contract has been encouraged by giving tax benefits. Thus the provisions of section 80IA shall not apply to a person who executes a works contract entered into with the undertaking or enterprise referred to in the section but where a person makes the investment and himself executes the development work, he carries out the civil construction work, he will be eligible for the tax benefit under section 80IA
The assessee had participated in promotion of EECL, in order to safeguard its business of explosives and detonators in West Bengal. The assessee and EECL are in the same line of business and their activities are inter-connected, the assessee being one of the promoters of the former company. The purpose of giving advances to this related company was in the ‘course of and for the purpose of’ protecting the interests of business of the assessee.
Citizen of India/ Foreign Citizens located in India / Located Outside India at the Time of Application for PAN. For Categories other than Individuals i.e. Firm, BOI, HUF, AOP, AOP(Trust), Local Authority, Company, Artificial Juridical Person – Having Office of their Own in India / Having No Office of their Own in India. Proof of Identity and Address
Important information for persons making application for a new PAN card / corrections (Request for Reprint of PAN Card or/ And Changes Or Correction in PAN Data). Do not overwrite or make corrections by canceling any data in the application. Do not pin or staple the photograph.Do not sign across the box (i.e. signature should not be spread outside the box).
Instructions for Filling the Form 1. Full Name Please select appropriate title. Individuals must state full expanded name. If Last Name and Middle Name are entered, then applicant must enter First Name also. Do not use abbreviations and initials For example, Poonam Ravi Narayan should be written as: Last Name/Surname First Name Middle Name NARAYAN […]
STEPS FOR ONLINE APPLICATION-a. Online PAN Change Request is not available for: * Government Organisations b. Applicant will fill PAN Change Request Form online and submit the form. c. If the data submitted fails in any format level validation, a response indicating the error(s) will be displayed on the screen. d. The applicant shall rectify the error(s) and re-submit the form.
Explore ITAT Mumbai’s decision on transfer pricing adjustment & interest receivable in international transactions, with key details & legal analysis.
A former woman sales tax officer and a chartered accountant, who gave her Rs 1,500 in bribe to settle a case, were sentenced to upto three years in jail by a Delhi court which said professionals like doctors and CAs are held in high esteem and should not indulge in corruption.
