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Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
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 : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
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 : 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...
The repayment of the principal of your home loan will not be eligible for tax deduction under the DTC. The people who are paying large home loan EMIs and claim benefits under Sec 80C may have to find the money for other tax-saving investments after the DTC comes into effect. But this setback is minor when compared with the gain from the removal of tax on notional rent.
Furnishing of income tax returns has been made mandatory for all candidates entering the poll fray and details of inherited property will also have to be provided under a new nomination affidavit brought out by the Election Commission. Candidates will now have to fill a six-page affidavit along with his or her nomination papers before the returning officer.
CIT vs. Swaraj Mazda Ltd (P&H High Court)- Learned counsel for the revenue has not been able to dispute the fact that there is no challenge to the finding that certificate issued to the assessee under Section 195(2) was never cancelled and in absence thereof, the assessee could not be treated as assessee in default. In view of the said unchallenged finding, the order of the Tribunal has to be sustained. Once it is so, we are of the view that the questions referred need not be gone into.
The quantum of money locked up in income tax disputes decreased in 2010 as compared to the previous year despite increase in number of cases, Parliament was informed today. The amount stuck in I-T cases actually declined to Rs 2,42,377 crore as on December 31, 2010 as compared to Rs 2,88,336 crore at the end of 2009, Minister of State for Finance S S Palanimanickam said in a written reply in the Rajya Sabha.
The government today said Director of Income Tax and Directorate of Enforcement (ED) have initiated investigation in Rs 460 crore Citibank fraud case. “The Investigation Directorate of the Income Tax has initiated necessary enquiries as far as the source of deposit of persons in Citibank is concerned,” Minister of State for Finance S S Palanimanickam told Rajya Sabha in a written reply.
In the city of Mumbai “Financial Services Providing Establishments” as codified by WTO/ DIPP be included as one of the eligible activities in the Government of India’s Industrial Park Scheme 2008. The developers of such Industrial parks in Mumbai as also the Financial Services Providing Establishments operating therein should be extended the fiscal benefits available under the ‘Industrial Park Scheme 2008’.
Upon entry into force, the Amending Protocol between India and Switzerland will amend, inter-alia, the article concerning Exchange of Information in the existing Double Taxation Avoidance Agreement (DTAA) between the two countries to specifically provide for exchange of banking information as well as information without domestic interest.
Amidst hue and cry by developers over the Budget proposal to impose MAT on SEZs, Central Board of Direct Taxes today said it has detected revenue diversion from domestic operations to the tax free enclaves.
Now you can check online the status of Form 24G filed by Pay and Accounts Office (PAO)/ District Treasury Office (DTO). To view the status we have to follow the following Procedure :-1. Visit the following link :- * Accounts Office Identification Number (AIN) * Provisional Receipt No.(PRN)
Stud farm owner Hasan Ali Khan, accused of massive money laundering and tax evasion, was detained by the ED which carried out multi-city searches at his Pune home and his associates’ premises cracking the whip to meet tomorrow’s Supreme Court deadline. Hot in pursuit of black money trail after the apex court rap on the government, about a dozen Enforcement Directorate (ED) officials from Mumbai came down to Pune to search the premises of Khan in posh Koregaon Park area this morning and he was taken away for interrogation after searches lasting several hours.
