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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...
Recently, the Bombay High Court in the case of M/s. Essel Propack Limited [2010-TIOL-209-HC-MUM-IT] held that the technical know how fee paid by the taxpayer for acquiring non exclusive licence to manufacture some machines, which was confined to the territory of India for the term of five years during which the proprietary rights in the patents of the licence continued to vest in the licensor,
Recently, the Authority for Advance Rulings (AAR) in the case of Laird Technologies India Pvt. Ltd. [2010-TIOL-06-ARA-IT] has held that the fees received by the USA company for assigning contractual rights to the applicant for supply of products in India is taxable as business profits and in the absence of a Permanent Establishment (PE) such consideration is not taxable in India under the India-USA tax treaty (the tax treaty). Accordingly,
Recently, the Authority for Advance Ruling (AAR) in the case of M/s Amiantit International Holding Ltd. [2010-TIOL-07-ARA-IT] held that the capital gains is taxable only when the applicant derive any profit or gain in the form of money or money’s worth or which is capable of being turned into money has accrued or arisen to the applicant.
AAR held that income received by a foreign company for procurement support services rendered by its Indian office in connection with purchase operations undertaken by other foreign company in India, is taxable in India.
A special CBI court on Thursday rejected the anticipatory bail of income tax commissioner Anirudh Rai, who had come under the scanner in a corruption case involving his two juniors.CBI joint director Rishi Raj Singh said the CBI was yet to decide whether to arrest Rai, an Indian Revenue Service officer. “We have not yet questioned him as he had moved the court. We will decide on the arrest after questioning him,” Singh said.
As soon as the land of the assessee is requisitioned and stood vested in the State, he does not remain its owner and the mere inchoate right to receive the enhanced compensation cannot possibly be treated as assets and included in his wealth subsequently.
Even after introduction of concept of block assets, identity of the individual assets are not lost and the Assessing Officer can restrict the depreciation having regard to the usage of a plant.
Notification No. 38/2010-Income Tax In exercise of the powers conferred by section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules
Notification No. 37/2010-Income Tax In exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Industrial Park Scheme, 2008, namely :-
It has been clarified by the Central Board of Direct Taxes (CBDT) that widening of an existing road by constructing additional lanes as a part of a highway project by an undertaking would be regarded as a new infrastructure facility for the purpose of Section 80IA (4)(i) of the Income Tax Act, 1961.
