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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
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...
The J&K High Court ruled that trust registration under section 12AA cannot be denied solely for generating surplus profit. Read the full judgment here.
Madras High Court sets aside the impugned Assessment order passed on short notice, just two days before the expiry of the notice period. The court rules in favor of the petitioner, citing a violation of principles of natural justice. Read the full analysis here.
Madras High Court sets aside the impugned Assessment order for the Assessment Year 2017-2018, citing lack of adequate opportunity for the petitioner to be heard. The case is remitted back to the respondent to pass a speaking order within 60 days. Read the full analysis here.
Differentiating between ITR 3 and ITR 4: Understand the applicability, sources of income, presumptive taxation, and audit requirements. Ensure accurate tax compliance by choosing the right form. Consult a tax professional for guidance.
Understanding the rules and guidelines for claiming House Rent Allowance Exemption can significantly reduce the tax burden for salaried individuals. In this article, we will walk you through the process of claiming HRA exemption in income tax.
In this article, we will discuss about the Income Tax provisions relating to both Short-term capital gain (STCG) and Long-term capital gain (LTCG) arising from sale/transfer of securities.
Read how Bombay High Court ruled in favor of New Age Buildtech Pvt Ltd, quashing invalid notices issued in the name of non-existent company ERP Infra Pvt Ltd.
Read how Gujarat High Court upheld ITAT’s decision, confirming that only the profit element embedded in Bogus purchases would be added to assessee’s income.
Read how the Madras High Court upheld the ITAT’s decision to estimate 4% profit for a road construction business, based on previous assessment orders.
Read the analysis and conclusion of the Swati Viren Karani Vs ITO case where the Gujarat High Court deemed section 148 notices issued between 1-4-2021 and 30-6-2021 as per Section 148A(b).
