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Income Tax : A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house pr...
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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 : 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 : ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being hear...
Income Tax : Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Comm...
Income Tax : ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasona...
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 : 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...
In our-view, the receipts do satisfy the conditions mentioned in section 80R that the services are rendered in his capacity as a teacher or research worker in such Institution, Association of Body. The amounts are not his professional receipts as he has no permission to practise in a foreign country.
Notification No. 70/2009 – Income Tax In exercise of the powers conferred by sub-section (1B) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), vide S.O. 1281(E) dated the 27th July, 2007, published in the Gazette of India, Extraordinary, Part II,
The claim of exemption u/s 11 cannot be denied merely based on the flimsy grounds that the assessee serves alcohol to the members and their friends in the club. Serving alcohol is part and parcel of the activities of any club and it is an integral part of the activities of the club.
THE Income-tax department has unearthed a major scam involving duping of 60,000 customers by an Orissa-based real estate company through a multi-level marketing cum incentive scheme. The tax sleuths under the direction of the Central Board of Direct Taxes’ (CBDT) investigation wing have frozen several accounts of the company and recovered about Rs 6.5 crore.
CIT Vs. Db (India) Securities Ltd. (Delhi High Court) The assessee, a broker, purchased shares of the value of Rs.1,06,10,247 on behalf of its sub-broker. The sub-broker made payment of Rs.64 lakhs. As the remaining amount of Rs.41,37,881 was not paid, the assessee did not deliver those shares to the client though it offered the brokerage to tax.
The following Benches will not function during the period from 22.09.09 to 25.09.09: – “C”, “G”, “H”, “J” & “WT” The cases are adjourned to respective date. Please see separate Notice.
The Income Tax Department today conducted raids at various places, including the residence of NCP leader Sudamati Gutte whose family has a large industrial base. According to sources, raids were carried out at more than 35 places in the district, the details of which are yet to be known.
Income Tax department today recovered documents of tax evasion worth crores of rupees during a survey at a software company in Sitapura industrial area here. Teams of Mumbai, Kanpur and Pune directorate of IT department in coordination with the Jaipur office raided three places in Jaipur and conducted survey of three companies in Jaipur, Kota and […]
The argument of the Ministry of Law & Justice that the ITAT could not go into interpretation of Rule 13E is not acceptable because in accordance with the duty of the Tribunal to give a proper hearing to the parties, the Tribunal has inherent jurisdiction to consider whether the parties who are appearing before it are properly entitled under the law to make appearance
The dispute raised in this appeal is whether F & O transaction can be considered as speculative transaction or not. The speculative transactions have been defined in section 43(5) as transactions in which contract for purchase or sale of any commodity including stock of shares is periodically and ultimately settled otherwise than by the actual delivery or transfer of commodity or scrips.
