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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...
Read the full text of ITAT Delhi’s order in the case of Sadhna Goyal vs DCIT, where the appeal was allowed due to a violation of the principle of natural justice.
Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.
Delhi High Court sets aside Income Tax Officer’s order for Assessment Year 2016-17, citing failure to consider the taxpayer’s response. Read the full judgment here.
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.
