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Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
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 : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
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 : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...
Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...
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 : 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...
Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion rupees ($88.8 million) in taxes for software sales made at the overseas premises of its international clients. The Econo
Government is expected to collect more than Rs 300 crore in taxes from the fourth edition of the Indian Premier League T20 cricket tournament which will begin in April this year. According to sources, the taxes would be obtained as Tax Deducted at So
The Income Tax department here has busted a Rs 150 crore ‘ponzy scheme’ — a fraudulent investment scheme that pays returns to investors through illegal funds — which allegedly duped poor investors from villages and small cities of West Bengal, Oris
The government is expecting to exceed the direct tax collection target of Rs 4.30 lakh crore for 2010-11 on the backdrop of high economic growth of 8.9 per cent recorded during the first half of the current fiscal. Pinning hopes on higher tax realis
Finance Minister Pranab Mukherjee is likely to meet Reserve Bank Governor D Subbarao, SEBI Chairman C B Bhave and heads of the other regulatory bodies on January 21 as part of the pre-budget consultations .Mukherjee, sources said, would use inputs fr
Dy.CIT, Pune Vs KRA Holding & Trading Pvt Ltd -The view of the assessing officer was consistent with the decision of the Tribunal in the case of Castle Investment (supra). The judgement in Castle Investment insofar as is material held that Section 1150(5) does not in any way restrict the allowability of the claim under section 80M. Under Section 80M what is claimed as a deduction is the dividend received by the company. Dividends declared, distributed or paid are not claimed as deduction under Section 80M though they constitute an outflow of funds from the company. Section 80M imposes a monetary restriction on the amount that may be claimed by way of a deduction by providing that the amount of claim cannot exceed the dividend distributed by the assessee by the due date.
Union Finance Minister Shri Pranab Mukherjee held a meeting with Financial Sector stakeholders to get their inputs for General Budget 2011-12, here today. This was the sixth meeting in the series of pre-Budget consultations held by Finance Minister w
On merits, s. 32(1)(ii) allows depreciation in respect of know-how, patent, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature. The term “commercial rights” are such rights which are obtained for effectively carrying on business and commerce. “Commerce” is a wide term which encompasses many a facet. Accordingly, any right obtained for carrying on business with effectiveness comes within the sweep of meaning of “intangible asset”. Goodwill, being the positive reputation built by a person over a period of time is of “similar nature” as the other items enumerated in the definition of “intangible assets.
Union Finance Minister Shri Pranab Mukherjee held a meeting with noted economists to get their inputs for General Budget 2011-12, here today. This was the fifth meeting in the series of pre-Budget consultations held by Finance Minister with the stake
The Supreme Court last week settled different views expressed by the Bombay and Karnataka high courts and allowed the appeals of the Commissioner of Income Tax, ruling that interest under Sections 234B and 234C of the Income Tax Act shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB. In two appeals by the commissioner, against rulings in favour of Rolta India Ltd and Export Credit Guarantee Corporation, the Supreme Court delivered judgement in favour of the revenue department on the issue which arose, namely, interest under Section 234B can be charged on the tax calculated on book profits under Section 115JA. In other words, advance tax was payable on book profits under Section 115JA. Appeals by Nahar Exports and Lakshmi Precision Screws Ltd were dismissed.
