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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 : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
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 : In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the f...
Income Tax : Respondent/assessee is a Irish company. It accordingly claimed benefits of the India-Ireland DTAA. ADIR is a wholly owned subsidia...
Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...
Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...
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 : 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...
A golden rule of interpretation is the contextual interpretation. A word has always to be interpreted only with the context with which, one is seized. Here we are concerned with the provisions of Sec.40(b) hence, the interpretation has to be done accordingly. Interpretation of the provisions otherwise or the way the Id. AO has done, if accepted, has the effect of rendering the very Explanation 3 totally nugatory or purposeless. Needless to say, that every word used by the legislature, is significant and cannot be lost sight of.
On consideration of the reports of local disturbances caused due to Swine Flu and riots in the Pune, Satara, Kolhapur and Sangli Districts of Maharashtra, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961,
September 30th is the Due Date for filing Income tax Returns for corporate assessees and those who come under compulsory audit. Virtually the Government of India is on a vacation, with Puja and other holidays. Yesterday was a holiday and tomorrow the banks are closed.
(i) Whether the revised TDS rates for payment to contractors and TDS on Hire / Rentals, are effective from 1.10.2009. (ii) Whether surcharge and education cess should not be deducted with immediate effect, from non-salary payments being made to residents (Individuals as well as domestic companies).
So far as the contention with regard to the disallowing the claim on the expenditure incurred on the purchase of two machineries is concerned, the counsel for the Revenue has urged that though with respect to the first machinery an advance payment was made within the Assessment year, with respect to the second machinery no payment at all was made.
1. What is the date when the Finance Bill became Finance Act 2009? 19-08-2009 2. In which cases surcharge on TDS rates is NOT applicable? On all payment to residents On all payment to non-corporate non-residents On all payments to foreign corporate if total payment is less than 1 Crore
One of the oldest and richest realtors of Mumbai, whose family once owned large parts of Powai and even donated land for setting up the IIT, is facing Income Tax (I-T ) trouble. I-T sleuths landed up at the residence and offices of Bhawani Shankar Sharma and his family members on Thursday morning and claimed […]
S. 43B (f) was inserted by the Finance Act, 2001 w.e.f. 1.4.2002 to provide that any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee shall be allowed as a deduction only in the year of actual payment. The said amendment was enacted to supersede the judgement
The Government today extended the date for filing of income tax returns by a month in three districts of Maharashtra.”The due date of filing income tax returns, due by September 30, 2009, of tax payer assessed to income tax in the districts of Pune, Sangli and Kolhapur, has been extended to October 31, 2009,”the Central […]
On consideration of the reports of local disturbances caused due to Swine Flue and riots of the Pune, Satara, Kolhapur and Sangli Districts of Maharashtra, the Central Board of Direct Taxes, in exercise of powers of conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of obtaining tax audit reports u/s 44AB of the I.T. Act as well as for filling of returns of
