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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 : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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...
Discover the latest updates in ITR Forms 2, 3, and 5 for AY 2024-25, highlighting significant changes due to the Finance Act 2023, enhancing tax filing compliance.
Understand the implications of the Income Tax Act notification regarding Karnataka Urban Water Supply and Drainage Board’s specified incomes. Details on applicability and conditions.
Explore the latest Income Tax Act notification granting tax exemption to Uttar Pradesh Real Estate Regulatory Authority (UP RERA) and its implications.
Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns with refunds can now be processed, even if past deadlines were missed. Learn more and claim your refund!
Explore the Income Tax Departments Mismatch Campaign, its implications, and the complexities faced by taxpayers. Learn how to respond and avoid potential litigation.
Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under IT Act, 1961 Section 147 in high-risk cases.
In a landmark ruling, ITAT Mumbai grants Vodafone the right to claim depreciation on goodwill, clarifying that amendments by Finance Bill 2021 apply prospectively from AY 2021-22.
CBDT notifies ITR-7 [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only] under section 139 of Income tax Act 1961 for AY 2024-25 vide Notification No. 24/2024-Income Tax Dated: 1st March, 2024. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification […]
Sold agricultural land? Re-invest the proceeds in new land within 2 years to claim tax exemption under Section 54B. Even if the new land is registered in your son’s name, you may still qualify. Learn the details and avoid common mistakes with this informative guide.
ITAT Hyderabad finds 90% profit from development activities highly unusual, calling for a reevaluation of contracts and use of government funds.
