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Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
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 : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....
Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....
Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....
Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...
Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
Notification No. G.S.R. 820(E)-Income Tax In exercise of the powers conferred by sub-section (7) of section 245F of the Income-tax Act, 1961 (43 of 1961), the Income-tax Settlement Commission hereby makes the following further amendments in the Income-tax Settlement Commission (Procedure) Rules, 1997
The Union Cabinet today approved ‘The Judicial Standards and Accountability Bill, 2010” and its introduction in the Parliament. The Bill provides a mechanism for enquiring into complaints against the Judges of the Supreme Court and the High Courts, l
NSDL has notified changes in data structure and validations for filing eTDS statement for FY 2010-11. These changes are effective for the forthcoming second quarter statement filing due on Oct 15, 2010. The changes are primarily to give effect to Notification 41.
In the light of the above decisions, it can now be concluded that orders of CIT which set aside assessment orders on the ground that they are erroneous (due to non application of mind, etc) without recording any finding to show as to how the said assessment order is erroneous or prejudicial to the interest of revenue (without rejecting the claim of the taxpayer) are bad in law and liable to be quashed.
Income Tax sleuths will keep an eye on private functions such as ‘mundan’ and marriage held by persons associated with candidates in poll-bound Bihar to check if these ceremonies were being secretly financed by them to bribe voters. The details of mo
NRIs want change in DTC clause on stay in India which proposes to tax a person living in India for more than 59 days. Some high-profile non-resident Indians (NRIs) are lobbying hard with the Centre to amend a clause in the Direct Taxes Code (DTC) Bil
An amendment to Rule 12 of the Income-tax Rules, 1962 vide notification no. 49 dated 9th July,2010 made it mandatory for all Companies (including foreign companies) filing ITR-6 to digitally sign the Income-tax return for the AY 2010-11. Thereafter,
Coimbatore: Income Tax Department sleuths carried out raids at over half-a-dozen establishments including hospitals, specialty treatment centres and diagnostic centres. The raids that began in the forenoon went on till late evening.
Islamabad: Even as Pakistan is reeling under devastation caused by unprecedented floods that has cost the country’s economy a whopping $43 billion, a report by a newspaper Monday said on Prime Minister Yousuf Raza Gilani and 25 of his cabinet members
Though the damages included an element of interest, the same is not assessable because in a decree or arbitration award, the amount loses its original character and assumes the character of a judgment debt. In substance, interest partake the character of the compensation and is not assessable as interest. Islamic Investment 265 ITR 254 (Bom) followed.
