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Income Tax : Learn about TDS on payments to non-residents, including business connection rules, royalty provisions, and significant economic pr...
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 : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
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 Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...
Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...
Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...
Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...
Income Tax : Bombay High Court held that exercising extraordinary jurisdiction under Article 226 of the Constitution of India not justified as ...
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...
Discover income tax benefits enjoyed by senior and super senior citizens under Income Tax Act of 1961, from higher deductions to special rates.
Explore the Ankit Jain vs. DCIT (ITAT Delhi) case, emphasizing the crucial role of DIN in assessment orders. Learn about ITAT’s decision and CBDT circular implications.
Learn about the Supreme Court of India’s decision on classifying telecom license fees as capital expenditure, and how it affects taxation and business operations
ITAT Hyderabad held that deduction u/s. 80IB(10) of the Income Tax Act is applicable to an undertaking developing and building housing projects. The same is not applicable to a partner in a joint venture/partnership firm.
ITAT Kolkata held that exercising revisionary proceedings u/s. 263 of the Income Tax Act purely on facts which are verifiable from records of the assessee is not justifiable and hence liable to be quashed.
Land sold by assessee was agricultural Land and did not qualify as capital asset in terms of Section 2(14)(iii) as it was subsequent to purchase of land, its use was changed to non-agriculture purpose, therefore, the capital gain earned on the piece of land as not being liable to tax.
Read about the ITAT Mumbai’s decision in the case of Sanghamitra Prakash Patel vs. ITO where a penalty was imposed on the assessee for failure to appear before the CIT(A).
Madras High Court quashes a cheque dishonour case, ruling an illegal claim cannot be construed as legal. Detailed analysis of Davidraj Vs V. Pavel’s case
Hindu Undivided Family (HUF) under Income Tax Act, its formation, advantages, and disadvantages. Understand difference between coparceners and members.
Read Madras High Court’s judgment in case of Ramasamy Rajkumar vs. PCIT regarding a deposit reduction to Rs.10 Lakh in a tax appeal. Get insights into decision.
