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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 : 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 : 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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
Delhi High Court’s judgment on transfer pricing case involving functional dissimilarity & amalgamation, leading to exclusion of certain comparables.
Find the income tax rates for the financial year 2023-24 (assessment year 2024-25) applicable to individuals, HUFs, domestic and foreign companies, along with special tax rates and surcharge information.
Karnataka State Chartered Accountants Association addresses technical glitches in the ‘e-proceedings’ tab of the IT portal regarding non-display of recent notices.
Explore the intricacies of summons issued by Income-tax Authorities under Section 131 of the Income-tax Act. Learn about the authorities empowered to issue summons, their powers, and the specific purposes for which summons can be issued. Understand the importance of recording reasons, compliance, representation, and the nuances surrounding the presence of lawyers during summons. Stay informed about the legal aspects to ensure due process and minimize unnecessary litigations.
Chhattisgarh High Court held that bail application filed u/s. 439 of Cr.P.C. rejected as the applicant is unable to satisfy twin conditions for the grant of bail under Section 45 of the PMLA, 2002.
Calcutta High Court’s ruling in Sushil Jaiswal Vs Union of India – order under Section 148A(d) set aside due to denial of personal hearing violating principles of natural justice.
ITAT Delhi held that issuance of notice u/s. 148 of the Act by the Income Tax Officer having no jurisdiction over the assessee and consequent assessment made u/s. 143(3) read with section 147 of the Act is void and bad in law.
Gujarat High Court held that penalty not imposable as excess depreciation claimed was surrendered by the assessee without prior detection of the Revenue and such excess claim was made due to bonafide reasons.
Get insights into the tax obligations of expats in India, the residence-based taxation system, and Double Taxation Avoidance Agreements (DTAA). Understand tax deductions, compliance, and the GST impact on expats’ income.
ITAT Delhi held that rejection of Discounted Cash Flow (DCF) Method for valuation of share price unjustified as that the methodology adopted was a recognized method of valuation and the Revenue was unable to show that the assessee adopted a demonstrably wrong approach.
