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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...
Charitable Registration cannot be cancelled even if gross receipts exceeds threshold limit prescribed in proviso u/s 2(15) of Income Act, 1961 and For that particular year alone, the assessee’s activities would not to be construed as charitable activities and assessee would be subjected to tax as a normal business assessee.
Explore amendments to Income Tax Section 43B for FY 2023-24 onwards. Understand impact on deductions, payment timelines, and compliance with Micro and Small Enterprises Development Act.
ITAT Bangalore held that the provisions of section 68 of the Income Tax Act cannot be applied in relation to the sales receipt of preference shares shown by the assessee in its books of accounts as sales receipt has already been shown in the books of accounts as income/loss at the time of sale only.
ITAT Bangalore directs re-evaluation of ex-parte assessment order on alleged bogus purchases by Kalu Singh. Detailed analysis and implications of the decision.
Discover tax-saving opportunities with Section 80D for health insurance premiums and Section 80TTA/80TTB for bank interest. Ensure financial wellness and optimize deductions.
ITAT Mumbai held that the assessee is not liable to deduct tax at source from the discount paid on prepaid sim card/recharge vouchers. Thus, disallowance made u/s 40(a)(ia) of the Income Tax Act liable to be deleted.
Explore the ITAT Bangalore order in the case of I&B Seeds Pvt Ltd vs ACIT, directing re-adjudication on the claimed depreciation for goodwill arising from a slump sale.
Introduction: The Senior Citizen Savings Scheme (SCSS) has undergone significant updates following the November 2023 notification (SB Order No. 22/2023). This article provides a comprehensive understanding of the latest SCSS rules, covering eligibility criteria, investment options, extension of tenure, and income tax benefits. Senior Citizen Savings Scheme (SCSS) after SB Order No.22/2023 Dated: 14.11.2023 Deduction […]
Explore the impact of Double Taxation on international business, the role of Double Taxation Avoidance Agreements (DTAA), benefits, and case laws. Learn how to apply DTAA for tax relief
Kerala High Court directs timely resolution of stay petition after Income Tax authorities reject deduction claim and impose penalty under section 270A.
