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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...
Learn about taxability under Section 44AD of Income Tax Act 1961. Understand eligibility, computation, deductions, consequences, and ITR filing under presumptive taxation scheme.
अलग-अलग इकाइयाँ हैं जिनका अलग-अलग कानूनी अस्तित्व है उनमें से कुछ प्राकृतिक रूप से उभरती हैं (जैसे मनुष्य), कुछ निगमन के परिणामस्वरूप या किसी कानून (जैसे कंपनियों और पंजीकृत फर्म) के परिणामस्वरूप उभरती हैं । लेकिन एक इकाई (एचयूएफ) है ) जिसका अलग अस्तित्व है और जो किसी विशेष समुदाय (धर्म) के रिवाज या सामाजिक […]
The Delhi High Court recently dealt with two writ petitions (W.P.(C) 6061/2023 and W.P.(C) 6062/2023) concerning Assessment Year (AY) 2016-17. The issue raised in these petitions was similar to the one in another case titled “Harvinder Singh (HUF) v. Principal Commissioner of Income Tax & Anr.
The appeal in the case of Simple Singh vs. ITO was directed against the order of the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2011-12
Agasthya Auto Products LLP filed an appeal against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2011-12. The appeal raised multiple grounds, challenging the validity of the reassessment proceedings initiated by the Assessing Officer (AO) under Section 147 of the Income Tax Act, 1961.
Gemini Overseas Limited filed a writ petition challenging the order passed under Section 148A(d) of the Income Tax Act, 1961, for the assessment year 2019-20. The petitioner contended that the order was passed without approval from the “Specified Authority” as required under Section 151(ii) of the Income Tax Act, 1961.
Bombay High Court’s landmark ruling confirms that only the profit element of bogus purchases can be added to taxable income, emphasizing the requirement for reconciliation of stock in cases of alleged accommodation entries.
Calcutta High Court asserts that the denial of the opportunity for cross-examination and failure to provide copies of evidence render an order invalid under the Income Tax Act.
Read the full text of the judgment by Punjab and Haryana High Court granting a refund of income tax on exempted disability pension income. Analysis of Circulars and Court Orders.
Get the 22nd edition of the comprehensive Income tax reference chart for professionals and users. It covers tax rates, deductions, capital gains, TDS rates, and more. Stay informed!
