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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 : Check the updated tax slabs for FY 2025-26. Know the new tax rates, rebate changes, exemption limits, and comparison with the old ...
Income Tax : Compare India's old and new tax regimes. Learn about tax slabs, deductions, and which option suits your income and investment habi...
Income Tax : Learn about Tax Deducted at Source (TDS) in India, its applicability, key sections, deduction process, penalties, and recent updat...
Income Tax : AIFTP urges swift disposal of 5,49,042 income-tax appeals pending with NFAC/CIT(A), some for over 5 years, to alleviate taxpayers'...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ITAT Hyderabad rules on Shriram Trust's surcharge dispute, stating that surcharge applies only if income exceeds ₹50 lakh. Read ...
Income Tax : ITAT Mumbai deletes surcharge on Lintas Employees Trust, ruling that surcharge applies only if income exceeds ₹50 lakh. Read cas...
Income Tax : ITAT Mumbai ruled in favor of Ujjwal Business Trust, deleting surcharge levied by CPC on income below ₹50 lakh. Read the case su...
Income Tax : Revision order issued by PCIT was quashed against Make My Trip (India) Private Limited as AO had conducted a proper inquiry before...
Income Tax : ITAT Mumbai held that the receipt from parking facilities is to be treated as business income instead of income from other sources...
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 Mumbai held survey statements cannot solely justify income addition without corroborative evidence. Case: DCIT Vs Ahinsa Infrastructure (AY 2014-15).
ITAT Ahmedabad remands Amod Steel case after non-appearance due to communication sent to a former accountant’s email, impacting the appeal process.
ITAT Delhi remanded the issue back to file of AO to re-compute disallowance under rule 8D(2)(ii) of the Income Tax Act by taking those investment which give rise to exempt income @1% of average value of investment.
ITAT Mumbai held that disallowance under rule 8D(2)(ii) r.w.s. 14A of the Income Tax Rules should be made on average value of investment yielding exempt income and not on the basis of quantum of investment based on market value.
In case of shares issued under amalgamation, there are no two parties to a transfer of a property. There are tripartite arrangements between amalgamated company, amalgamating company and shareholder of the amalgamating company.
India’s tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litigation management, and recovery actions.
India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guidelines, and dispute resolution.
Analysis of tax exemptions for individuals vs corporations, middle-class benefits, and the impact of measures under the new tax regime in Budget 2025-26.
Analysis of tax collection and economic growth post corporate tax cuts. Includes year-wise revenue, benefits for industries, and incentives for global corporations.
The government provides tax benefits to individuals and corporations. Recent budgets increased exemptions for middle-class taxpayers while monitoring tax incentives.
