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Income Tax : Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registrati...
Income Tax : Section 194T mandates 10% TDS on partner payments exceeding ₹20,000 annually, effective April 1, 2025. Learn its impact, complia...
Income Tax : Understand income tax rules for business & profession in India. Covers business, profession, vocation, occupation, and deduction g...
Income Tax : In the realm of taxation, income is classified into various categories, with one of the most significant being Income from Busines...
Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...
Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...
Income Tax : Corporate tax revenue distribution follows Finance Commission guidelines, with states receiving 41% of shareable taxes. Incentives...
Income Tax : Delhi High Court sets aside DRP's order in FIS Payment case, directing a fresh review under ITAT rulings on Section 56(2)(viib). K...
Income Tax : ITAT Delhi upholds CIT(A) ruling in Kissandhan Agri case, rejecting tax addition under Section 56(2)(viib). AO’s valuation metho...
Income Tax : ITAT Mumbai ruled in favor of Jamnagar Utilities, allowing CSR donations as deductions under Section 80G, rejecting the Revenue's ...
Income Tax : ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications...
Income Tax : ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Ca...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
ITAT’s decision on Rounak Farms Pvt. Ltd. vs. ACIT case where a section 69B addition was upheld due to the appellant’s non-appearance despite 20 notices.
Read about the ITAT Pune’s decision in Kirti Bipin Thorat vs. ITO case for A.Y. 2014-15, where additions on unaccounted cash income from share sales were upheld.
Nayagi Fireworks Ltd. vs. ACIT case, where cash deposits of Rs. 99.50 Lacs were disputed and ITAT provides an opportunity to substantiate source.
Explore landmark cases like SAP Labs vs. IT Officer, Evalueserve vs. Commissioner, and Softbrands vs. IT. Learn how the law and facts intersect in transfer pricing disputes.
CBDT grants a filing extension for Form 10-IC related to AY 2021-22. Learn the conditions for this extension and the new deadline in this update.
Explore the Kerala High Court’s verdict on Section 80P and its impact on a co-operative bank’s interest income. Discover key judgments and insights.
Explore a recent judgment from the Madras High Court in the case of Tamil Nadu Discharged Prisoners’ Aid Society vs. Additional-Joint-Deputy-ACIT-ITO. The court provides relief to a non-profit organization facing a technical issue in filing their tax returns, allowing them to rectify the situation.
Explore the recent decision of the Madras High Court in Erode District Tractor Owners Association Vs PCIT concerning an order passed under Section 264 of the Income Tax Act, 1961. The court sets aside the order and calls for a fresh decision.
Explore the recent Gujarat High Court judgment in PCIT Vs KGY Glass Industries (P) Ltd regarding the denial of concessional tax rate due to a technical glitch in filing Form 10-IC under section 115BAA for AY 2020-21.
Understand what qualifies as ‘stewardship activities’ for taxation in India with the Supreme Court’s single-entity approach. Taxes on stewardship activities, Morgan Stanley & Co v India judgement explained
