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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...
The Delhi High Court sets aside a reassessment order related to alleged bogus purchase claims, citing the need for proper evidence and defense for the assessee.
Delhi High Court grants relief to Amadeus IT Group, condoning a 170-day delay in re-filing an Income Tax Appeal. Details of the case and the court’s decision.
ITAT Mumbai upheld the application of Section 56(2)(viib) of the Income Tax Act on excess share premium arising from a loan to equity conversion. Learn more about the case.
Delhi High Court directs the Assessing Officer to furnish relevant material supporting allegations of fictitious loan in the case of Rakesh Kumar Mohindroo vs. ITO for AY 2019-20.
Learn how the Income Tax Appellate Tribunal restricted the jurisdiction of Section 263 regarding issues not forming part of a limited scrutiny assessment in the case of Aggarwal Promoters Vs PCIT.
Explore the Sanjeev Khemka vs PCIT case, addressing limited scrutiny, jurisdiction, and errors under Section 263 – ITAT Kolkata decision.
In CIT Vs Padmavathi, Madras High Court held that Section 263 cannot be invoked merely because guideline value was higher than sale consideration shown in conveyance deed
Explore intricate relationship between income tax and customs valuation. Learn how these realms intersect, challenges they pose, and strategies for harmonization.
Explore the taxation rules for long-term capital gains on listed shares, including rates and exemptions under the Income Tax Act 1961.
Explore legality of Section 148A(b) & Section 148A(d) proceedings post Finance Act 2021. Understand implications of local assessments in a faceless era.
