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Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...
Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...
Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...
Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...
Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Kolkata ITAT rules documented share transactions through BSE and registered broker cannot be taxed as bogus based on suspicion; up...
Income Tax : Kolkata ITAT dismisses revenue's appeal, upholds CITA order favoring Shaleen Khemani on gifted share sale proceeds, citing lack of...
Income Tax : Kolkata ITAT rules in favor of Gautam Kumar Pincha, setting aside addition of share sale proceeds as undisclosed income due to lac...
Income Tax : ITAT Kolkata rules on Gaurav Pincha's LTCG claim, deleting additions made under Section 10(38), citing lack of specific evidence a...
Income Tax : ITAT Chandigarh held that amount in locker being cash received on sale of flat which is already assessed to capital gain. Accordin...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Telangana HC rules in Kankanala Ravindra Reddy vs ITO: Section 148A(d) orders and Section 148 notices must be issued by NFAC, not AO. Explore the court’s analysis of legal provisions and implications for faceless assessments under the Income-tax Act, 1961.
Explore the case of Raj Kumar Karanwal vs. PCIT (ITAT Delhi) and learn why exercise of revisionary jurisdiction by PCIT may not always be valid when issues have been examined by AO. Dive into the details of the case, the assessment process, and implications for taxpayers.
Tax implications of investing in specified mutual funds and market-linked debentures (MLDs) post-amendment under Section 50AA, with examples.
Learn how to calculate period of holding and indexed cost of acquisition for property acquired through allotment letters or sale agreements under Section 48 of Income Tax Act.
ITAT Mumbai held that the amount of internal transfer between two EOUs of the assessee is to be considered for the purpose of arriving at the profit eligible for exemption under section 10B of the Income Tax Act.
ITAT Delhi held that initiation of reassessment proceedings u/s 147 of the Income Tax Act merely on the basis of information from other officer without cogent and demonstrable material unjustified.
Stay informed about income tax return filing and audit due dates for Assessment Year 2023-24. Also, discover threshold limits for tax audits and Form 3CEB reports.
Read full judgment of Metroark Pvt. Ltd. vs. ITO in Calcutta High Court. Learn how ITAT directed CBDT to consider delay condonation for Form 10-IC under Income Tax Act.
Explore Vaman Prestressing Co. Pvt. Ltd. vs. ACIT case where Bombay High Court discusses reopening of assessments, commercial expediency, and need for a valid belief.
ITAT Kolkata held that interest payment on delayed deposit of income tax, whether TDS or otherwise is not an allowable expenditure.
