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Income Tax : Overview of Finance Act 2025 changes: capital assets, fund manager relocation, search case assessments, and more. ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : DPIIT's Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance eas...
Income Tax : Analysis of Form 3CD amendments effective April 1, 2025. Understand the impact on tax audits, MSME reporting, and cross-border com...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : Bombay High Court quashes income tax notices to Srimani Basu due to improper service from address discrepancy, grants fresh hearin...
Income Tax : ITAT Ahmedabad overturns 12A and 80G renewal rejections, citing lack of examination by CIT(E) and violation of natural justice....
Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
Income Tax : Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ di...
Income Tax : The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the P...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
It will soon be easier to get specific details of Indians having unaccounted wealth in secret Swiss bank accounts. The Union Cabinet is likely to clear on Thursday, the amended Double Taxation Avoidance Agreement (DTAA) with Switzerland, official sources told to reporters.
The finance minister has set up two panels, one each for direct and indirect taxes, to draw up a road map to reduce rising litigation, asking them to submit a report within a month.
Highlights of E- Filing Season Assessment Year 2010-11/ Financial Year 2009-2010 (up to 04/08/2010). Please see updated “Quick Statistics” for E-Filing of Income Tax Returns upto 4th August 2010.
Net direct tax collections during first four months of the present fiscal (up to July 2010) stood at Rs.85,647 crore, up from Rs.73,990 crore in the same period last fiscal, registering a growth of 15.75 percent. Growth in Corporate Income Tax was 20.95 percent (Rs.51,627 crore as against Rs.42,685 crore), while Personal Income Tax (including STT, and residual FBT and BCTT) grew at 8.51 percent (Rs.33,940 crore as against Rs.31,279 crore).
Vodafone’s senior counsel, Harish Salve, today began arguments on behalf of the company on its plea against the income tax department in the Hutchison case. The arguments could continue for some weeks. The company had moved court on a showcause notice from the I-T Department, quantifying a tax liability of Rs 12,000 crore (Rs 120 billion), which could include a penalty, on account of Vodafone not deducting tax from the payment made to Hutchison for acquiring the latter’s stake in an Indian telecom venture.
India and Argentina have initiated a co-operative agreement to provide mutual assistance in customs operations and are to start negotiations regarding a Tax Information Exchange Agreement (“TIEA”).
A computer software when put into a media and sold, it becomes goods like any other audio cassette or painting on canvass or book. The amount paid by the assessee towards purchase of IXOS-eCON for R/3 50 users cannot be treated as payment of royalty taxable in India under Article 12 of DTAA between India and Singapore. Therefore, the assessee, in our opinion, is not liable to deduct tax at source.
Notification No. 68 /2010-Income Tax In exercise of the powers conferred by clause (c) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “Archery Association of India”, New Delhi, as the association, for the purposes of said clause for the assessment years 2010-11 to 2012-2013.
Bombay High Court on Wednesday began hearing on Vodafone’s plea challenging income-tax department’s tax claim of $2 billion on the telecos’ buyout of Hutchison’s stake in Hutchison-Essar in 2007 for $11 billion.
Centralized Processing Centre (CPC) at Bangalore is performing successfully. Till date, 26.99 alkh returns hgave been processed and over 3 lakh refunds have been issued at the Centralized Processing Centre, Bangalore.
