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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 landmark decision by ITAT Chennai reinforces the validity of capital gain deductions under Section 54, even when flat possession is delayed. Explore the key aspects and implications of the Anil Kirthisimhan Wijeyanayake Vs ACIT case.
Avoid common mistakes while filing your ITR. Select the correct form, match income with Form 16 and Form 26AS, disclose necessary details, claim proper deductions, and verify your return promptly. Seek expert advice for accurate tax planning.
In Sri Gopal Store vs AO case, Orissa High Court ruled that a minimum of seven days must be provided for compliance with a show cause notice in faceless assessment proceedings
Gujarat High Court in case of Sampatraj Dharmichand Jain Vs ITO concludes that Reassessment notice issued beyond prescribed time period and based on unverified details is invalid.
The ITAT Delhi ruling in Arya Samaj Safdarjung Enclave Vs CIT sheds light on the reapplication process for 12A(1)(ac) registration erroneously submitted, encouraging a fresh approach to tax registration for non-profits.
Baskaran, the Karta of the HUF, submitted that his prolonged illness prevented him from managing the day-to-day activities of the business, causing the delay in filing the appeal. Despite this, the CIT(A) dismissed the appeal, stating that the delay wasn’t sufficiently justified.
Explore the case of Satish vs ACIT where ITAT Delhi quashed an assessment order passed without giving the assessee an opportunity to respond, setting a vital legal precedent.
Delve into the case of Santi Kumar Oswal Vs ACIT where ITAT Kolkata ruled that no disallowance can be made for GST paid before the due date of filing ROI, emphasizing fair application of the Income Tax Act.
Gain in-depth insights into the ITAT Kolkata’s landmark ruling on residential property deductions under Section 54F of the Income Tax Act. Learn how ownership of more than one house impacts tax deductions.
Dive into the world of Non-Convertible Debentures (NCDs) and understand the taxation implications. Explore the types, features, advantages, and disadvantages. Stay informed to make sound investment decisions.
