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Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...
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 : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...
Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...
Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....
Income Tax : ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...
Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...
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...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
ITAT remands case of ₹10.95 lakh addition due to non-compliance by consultant to CIT(A) for fresh hearing in Maheshkumar Patel’s appeal.
ITAT remands ₹42.26 lakh cash deposit case for fresh hearing, citing non-receipt of notices. Directions issued to AO for a detailed review and proper opportunity.
ITAT Delhi condones 1,030-day appeal delay caused by lack of knowledge about the e-filing system. Case sent back for reassessment under taxpayer compliance intent.
ITAT Delhi directs CIT(A) to exclude COVID-19-related delay in a 775-day late tax appeal. Case sent for reassessment under the Supreme Court’s limitation extension ruling.
ITAT Delhi restores Conscient Infrastructure’s appeal to CIT(A) due to notices sent to the wrong email. Details of procedural lapses and next steps explained.
ITAT Ahmedabad rules late filing of Form 10B as procedural lapse, grants Section 11 exemption for Bhavnagar Dashashrimali Meshree Vanik Gnati for AY 2019-20.
Understand the revised TDS rate chart for FY 2024-25. Know TDS sections, rates, thresholds, and exemptions to stay compliant and avoid penalties.
ITAT Ahmedabad held that provisions of Sick Industrial Companies Act [SICA] would override the provisions of Income Tax Act. Thus, set off of business loss granted on the basis of Board for Industrial and Financial Reconstruction [BIFR] order.
ITAT Delhi held that rejection of application for registration u/s. 12AB of the Income Tax Act by CIT(Exemptions) without considering replies and explanations furnished by the applicant is not justified. Accordingly, matter remitted back for fresh consideration.
Delhi High Court held that income tax authorities cannot retain seized cash once time period for framing an assessment under section 153A of the Income Tax Act has expired and there is no outstanding demand. Accordingly, petition disposed of.
