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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...
ITAT Delhi held that as per Article 8 of India–Singapore DTAA receipts from operation of ships and aircrafts in international traffic is taxable in the country of residence of the recipient. Therefore, amounts received by the assessee from operation of ships in international traffic would be exempt.
In the case of Gulu Hassanand Raney vs. Asst. Director of I.T. Bangalore-CPC (ITAT Mumbai), the Income Tax Appellate Tribunal (ITAT) dismissed the appeal regarding the extension of the due date for filing the income tax return. The appeal raised questions about whether the extended due date for tax audit cases could be applied to an assessee liable for audit under a different law. Read the full order and analysis here.
In a landmark judgment, ITAT Ahmedabad overrules PCIT’s order, upholding that section 40(a)(ia) of the Income Tax Act cannot be invoked in case of short TDS deduction.
A detailed analysis of the ITAT Ahmedabad’s ruling in Bhutakia Bhimasar Vs PCIT, where it was held that a charitable organization should not lose tax exemption benefits due to technical lapses.
Explore the future of tax laws with predictions and trends, emphasizing the role of Artificial Intelligence (AI) in taxation. Learn how AI can revolutionize data collection, analysis, risk assessment, and policy framing. Discover the potential for global tax reforms through AI-driven strategies, ensuring more efficient and data-driven tax laws.
Understand the Bombay High Court’s ruling on PCIT vs Kimberly Clark Lever Private Limited case regarding the reference to TPO and the scrutiny assessment as per the Income Tax Act 1961.
Delhi High Court quashes a ₹10 crore tax demand, stating that an assessment order cannot be solely issued against one of the multiple legal heirs of a deceased taxpayer.
The ITAT Kolkata recently deleted an addition made on interest receipt by the CIT(A) in the case of Guruji Mercantile Pvt. Limited Vs ITO, citing lack of jurisdiction.
The ITAT ruling emphasizes the necessity of incorporating a Document Identification Number (DIN) in tax communication, as stipulated in the CBDT Circular 2019. Explore the detailed analysis and implications of the case.
ITAT Delhi held that delayed deposit of the contribution EPF & ESIC beyond the stipulated period prescribed in the respective Acts are not allowable as deduction.
