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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
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...
A detailed analysis of the ITAT Pune judgement on Dinesh Patel vs ITO involving client code modification and tax assessment.
The ITAT Pune declares the assessment order invalid in the case of Prabhakar Amruta Shillak Vs ITO for AY 2012-13. The order violated CBDT circular and was treated as never issued.
In the case of Classic Display Systems Pvt Ltd vs. ITO, the ITAT Delhi quashed the reassessment order as the AO failed to issue notice u/s 143(2) before finalizing the reassessment.
In the case of Sandeep Auraneebadkar vs. ITO, the ITAT Hyderabad partially deleted an addition made under section 69A of the Income Tax Act due to failure to explain credit card payments with supporting evidence.
The ITAT Delhi quashes the penalty imposed under Section 271F against an 82-year-old widow for non-filing of Income Tax Return (ITR) as she had no taxable income.
In a recent case, the ITAT Ahmedabad deleted the addition made on protective basis in the assessment of ACIT Vs. Rachna Finlease Pvt. Ltd. The tribunal upheld the findings of identity, genuineness, and creditworthiness of transactions made by the assessee.
Intra-head adjustment allows taxpayers to set off losses from a specific source against income from the same head. For instance, loss from one business can be adjusted against profit from another business.
All Gujarat Federation of Tax Consultants and Income Tax Bar Association request an extension of the income tax return deadline for AY 2023-24 due to heavy rain and flood in Gujarat.
AIFTP, a leading professional body in India, appeals to the Finance Minister for a one-month extension on tax return due dates for AY 2023-24.
Explore the new standard operating procedures (SOP) issued by India’s Ministry of Finance for recomputing income for co-operative sugar factories.
