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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
Income Tax : ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
ITAT Delhi held that plausible approach adopted by AO cannot be labeled as erroneous. Hence, revisionary order under section 263 of the Income Tax Act is unsustainable in law.
ITAT Delhi held that Tax Residency Certificate (TRC) is statutorily the only evidence required to be eligible for the benefit under the DTAA. Accordingly, benefit of India-Mauritius DTAA duly available.
ITAT noted that the explanations provided by the assessee concerning the withdrawals, deposits, and utilization of cash over time were satisfactory. The Tribunal acknowledged the Indian socio-economic constructs where holding cash, especially in rural society, is common.
CBDT introduces Form 10IEA for FY 23-24, allowing taxpayers to opt in or out of new tax regime via Notification No. 43/2023-Income Tax Dated: 21st June, 2023
Gain insights into South Africa’s taxation system for the 2023 filing season. Understand individual income tax rates, the process of registration with the South African Revenue Service (SARS), and updates for the upcoming season. Explore the nuances of multiple income sources, unique registration methods, and the impact on economic development. Stay informed about key dates and changes in the taxation landscape.
Delhi ITAT asserts that mere transactions through a DMAT account or selling shares on stock exchange don’t necessarily rebut Section 68 of Income Tax Act. Understand the full implications of this ruling with our comprehensive analysis.
ITAT Mumbai has directed AO to obtain the complete information and examine whether assessee has only leasehold right or complete rights over the property so that provisions of section 50C of the Income Tax Act are attracted.
ITAT Kolkata ruled in Kishorepur Paschimanchal SKUS Limited Vs ITO that delay in filing ROI does not deny a taxpayers deduction claims under Section 80P of IT Act 1961
ITAT Delhi’s ruling in UM Green Lighting P. Ltd vs DCIT emphasizes the supremacy of NCLT’s moratorium under IBC over tribunal proceedings, halting the Revenue’s case during the moratorium period, and underscoring the IBC’s overriding effect.
Landmark case of DCIT Vs Trans Asia Packaging Ltd, where ITAT Delhi provided clarity on transactions post amalgamation under Section 269SS of Income Tax Act
