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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...
In-depth analysis of recent Income Tax Department communications on high-value transactions. Understand the advisory, compliance steps, and implications. Stay informed to avoid penalties.
Explore the case of Pr. CIT vs Ansal Properties: Penalty notice invalidated due to ambiguity in specifying Section 271(1)(c) limb for penalty proceedings.
Explore the Karnataka High Court’s ruling on penalty notices under Income Tax Act in CIT vs SSA’s Emerald Meadows. Learn about specificity requirements and key findings.
Delhi High Court’s ruling in Pr. CIT vs Sahara India Life Insurance Co. clarifies Section 44, emphasizes specificity in penalty notices under Section 271(1)(c).
Since the legislature vested the discretion to extend the timeframe solely in the AO, he could not have abdicated that function and confined his role to only making a recommendation to the CIT. CIT had no role in extending the timeframe as the AO was in seisin of the assessment proceedings.
Explore the latest Income Tax Notification No. 106/2023 by the Central Board of Direct Taxes. Learn about the specified person, conditions, and implications for tax exemption.
Recent Mumbai Tribunal ruling reaffirms the legitimacy of fair market valuation in Angel Tax cases. Detailed analysis of PNP Maritime Services Pvt. Ltd. vs. DCIT case.
Explore the demise of advance tax rulings in India and its consequences on investor confidence. Learn about the issues, changes, and the future implications for direct taxes.
Explore the pitfalls of rushing into tax-saving investments like life insurance, medical insurance, and ELSS. Learn why careful planning is crucial for long-term financial gains.
Understand Income Tax India’s recent communication on transactions. Learn importance of feedback, deadlines, and steps to ensure compliance. A comprehensive guide for taxpayers.
