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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 : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
Income Tax : A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major ch...
Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
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 : 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...
The Direct Tax Bill has proposed to introduce a new investment scheme to avail of tax exemption. In this scheme, an investor can invest up to Rs 50,000 in life insurance policies, health insurance and children’s tuition fees. One can also invest up
The Central Vigilance Commission (CVC) has denied Central Bureau of Investigation (CBI) the permission to initiate criminal prosecution against two income tax (I-T) officials for releasing diamonds impounded during a 2006 raid without proper orders.
India’s tax collections could beat budget estimates of Rs 7.46 trillion or Rs 7.46 lakh crore (USD 160 billion) in the fiscal year to end-March 2011, Revenue Secretary Sunil Mitra said on Friday
Foreign institutional investors (FIIs) can breathe easy with the Direct Taxes Code (DTC) Bill, 2010 proposing that their income be taxed as capital gains rather than business income. Opinion is divided on whether this will end the uncertainty over FI
The powers of the Central Board of Direct Taxes (CBDT) have been reinstated in the Direct Taxes Code (DTC) Bill. The first draft of DTC had proposed to strip the board of its powers to issue certain communications and restricted its role to merely a
Any individual being a resident in India, who is of the age not exceed sixty-five Any individual being a resident in India, who is of the age not exceed sixty-five 1 Where the total income does not exceed Rs. 160000 NIL 1 Where Total income does no
The government is determined to implement a policy intended to give those displaced by mining a share in the profits of the miners despite a less than enthusiastic response from industry, the minister for mines said on Thursday.
Where the Assessing Officer has not carried out necessary enquiry which ought to have been carried out for allowing deduction to the assessee under section 40(b), the order passed by the Assessing Officer was erroneous and prejudicial to the interest of the Revenue and CIT has rightly invoked the provisions of section 263.
Where a forward contract is entered into by the assessee to sell the foreign currency at an agreed price at a future date falling beyond the last date of accounting period, the loss is incurred to the assessee on account of evaluation of the contract on the last date of the accounting period i.e. before the date of maturity of the forward contract
Once section 249(4)(a) is treated as a mandatory condition for filing an appeal before CIT (Appeals) and once that condition stood satisfied at the time of his filing an appeal to CIT (Appeals), then, there was no necessity for the assessee to once again pay the admitted tax due as a condition precedent to his filing the appeal before the Appellate Tribunal under section 253(1)(b).
