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Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
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 : 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...
Explore the ITAT Mumbai’s remand of Nitin Amratlal Brahmbhatt’s case against ACIT-24(3) on the assessment order under Income Tax Act. Fair opportunity of hearing mandated.
Read the full text of the judgment from Madras High Court on G.K. Reddy’s case against DCIT. Court rules pension cannot be attached for income tax demands, sets conditions.
Read the full text of ITAT Hyderabad’s order in Pennar Industries Ltd vs DCIT case for A.Y.2018-19. Unbilled revenue cannot be considered income once written off.
Discover how hospitals can secure tax benefits for employees’ medical expenses. From perquisite definitions to approval procedures, delve into the intricate details of Section 17(2) and Rule 3A
Case of Ilaben Bharatbhai Amin vs ITO, recently decided by ITAT Ahmedabad, delves into intricacies of calculating capital gains tax arising from sale of agricultural land that undergoes conversion into non-agricultural land before sale.
ITAT Mumbai held that CIT(A) cannot exercise the power to enhance u/s. 251(1) where AO has not dealt with the issue and has not applied his mind on the taxability or non-taxability of a specific matter. Accordingly, exercise such power by CIT(A) will be beyond his jurisdiction.
The taxpayer vigorously argued that the disallowance was unwarranted as the supplementary partnership deed explicitly waived interest on capital and remuneration.
The key dispute centered around the disallowance of deductions under section 48(ii) of the Income Tax Act related to the indexed cost of interest paid for the acquisition of a property sold by the assessee.
ITAT Delhi held that broadcasting “Live events” does not amount to a work in which copyright subsists i.e., “Live Rights”, is not “copyright” and therefore any payment made thereto can’t be said to be chargeable to tax as royalty under section 9(1)(vi).
ITAT Mumbai held that revision under section 263 of the Income Tax Act unjustified as AO while allowing the exemption in the order passed under section 144 r.w.s.263 has taken a possible view upon verifying the details available on record.
