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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a diff...
Income Tax : ITAT Delhi held that where the variation between the issue price and fair market value is within the 10% safe harbour under Rule 1...
Income Tax : ITAT Delhi held that a notice under Section 143(2) issued by a non-jurisdictional Assessing Officer without a valid transfer order...
Income Tax : The ITAT held that cash deposited during demonetization was adequately explained through instrument charges consistently disclosed...
Income Tax : The ITAT held that advertisement and brand promotion expenses incurred by the distributor were for its own business and were not s...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Finance Minister has presented Budget 2018 dated 1st February 2018. Certainly, in every budget taxpayer expects certain relief from Direct Tax perspective. Whilst income slabs, tax rates and surcharges remain mostly un-fiddled, certain key changes proposed as discussed below:
Changes in Tax Rates for Domestic Companies: Company whose total turnover or gross receipts in the PY 2016-17 does not exceed Rs. 250 crore rupees – 25% No change in Tax Rates for others. No change in Surcharge.
DIRECT TAX PROPOSAL IN UNION BUDGET 2018 CHANGES IN TAX RATES New Cess, Health and Education Cess to be levied @ 4% by substituting Education Cess and Secondary and Higher Education Cess of 3% on Income Tax. (With effect from AY 2019-20) For Domestic Companies, whose total turnover or gross receipts in the previous year […]
EXISTING PROVISION – Section 80AC. Deduction not to be allowed unless return furnished.—Where in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under section 80-IA or section 80-IAB or section 80-IB […]
Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for taxation of long-term capital gains. The responses to these queries are provided below.
The concept of Business connection under the domestic tax laws is akin to concept of PE in international parlance. The term ‘business connection’ includes activities carried on by non-resident through its dependent agents. Presently, a person acting on the behalf of the non-resident by negotiating and concluding contracts, maintaining stock of goods in India or habitually securing orders in India mainly or wholly for the non-resident would constitute its dependant agent in India.
Article deal with recent Rumors in Social Media that If Income Tax Return not filed within due date, the entire Chapter VIA deductions will not be allowed which includes some of the Popular deduction i.e. Section 80C, Section 80D, etc. Some have even called it as hidden Bomb of Union Budget 2018. By this article I would like to clarify that Finance Budget 2018 has not made any changes in relation to claim of such deductions.
Can there really be acche din in a country with taxes? Well, the tax policy of a country bears the answer. The Trump reforms has set a glaring example of how a Sovereign Government can work to prevent base erosion of valuable resources and jobs and make tax heavens a no preferred choice for businesses. That’s an example of Acche Din
Major Direct Taxation aspects of the Finance Bill, 2018. The Finance Bill has not altered the Slab rate per se but there is some benefit in the form of Standard deduction to the salaried class of people.
In order to promote the development of world class financial infrastructure in India, it is proposed to amend the section 47 of the Act so as to provide that transactions in the following assets, by a non-resident on a recognized stock exchange located in any International Financial Services Centre
