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Income Tax : Kedar Jagdish Mankar Vs ACIT (ITAT Pune) Adv. Sachin P. Kumar successfully represented his client in Foreign Tax Credit dispute be...
Income Tax : Union Budget 2025 overlooked critical tax compliance issues, including TDS on partners’ salary, delays in appeals, marginal reli...
Income Tax : The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation ...
Income Tax : Learn how to achieve tax-free rental income of ₹20,00,000 by leveraging deductions under Section 24 of the Income Tax Act, 1961,...
Income Tax : Request tax order implementation with Income Tax e-Filing portal’s new feature. Raise Request for Order Giving Effect online to ...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Mumbai invalidates reassessment in Ramlal G Suthar vs. ITO due to improper approval under Section 151(ii) of the Income-tax A...
Income Tax : Bombay High Court quashes reassessment notices issued to a non-existent entity post-merger in City Corporation Ltd vs ACIT, citing...
Income Tax : Bombay High Court addresses Hiralal Malu’s plea for the return of seized jewelry, highlighting disputes between the tax departme...
Income Tax : ITAT Mumbai ruled on TVF Fund Ltd’s appeal regarding tax loss set-off under DTAA. Key issues include carry-forward losses, taxab...
Income Tax : Orissa HC examines TDS prosecution in D.N. Homes case, focusing on COVID-19 delays and reasonable cause under Section 278AA of the...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
ITAT held that the interest paid on delayed payment of TDS by the assessee u/s 201(1A) r.w.s. 206C(7) of the Act cannot be held as penal in nature and, thus, incurred out of commercial expediency and, therefore, is allowable u/s 37 of the Act.
Understand the taxation of capital gains on shares and mutual funds for FY 2022-23 & 2023-24. Explore terms, holding periods, and tax rates. Learn the impact of amendments introduced by the Finance Act, 2023.
Discover the key amendments in Form No. 10 of the Income Tax Act through Notification No. 96/2022. Learn about the conditions, consequences, and the impact on trusts/institutions registered under various clauses of Section 10(23C). Stay informed about the filing requirements and the period for accumulation or setting apart income for subsequent years.
Leave Travel Concession (LTC) is a type of benefit provided to employees by their employers to travel within the country during their leave period. The objective of this benefit is to encourage employees to take a break from work and explore new places while spending quality time with their family.
Explore a comprehensive comparative analysis of Sec 12AA/12AB and Sec 10(23C) registered trusts, institutions, and funds. Understand filing, conditions, exemptions, and violations under Income Tax laws. Stay informed for tax audit requirements.
Core issue involved in the appeals is the scope of assessment u/s 153A. question posed for consideration is, as to whether in respect of completed assessments/unabated assessments, whether the jurisdiction of AO to make assessment is confined to incriminating material found during the course of search u/s 132 or requisition u/s 132A or not,
Residential status for income tax refers to the status of an individual or an entity based on their presence or stay in India during a financial year. It determines the extent to which their income will be taxed in India.
ITR filing for A.Y. 2023-24 is now live in offline mode. Learn the step-by-step process to file your income tax return, avoid penalties, and ensure compliance with tax laws. Download the correct ITR form, fill in details accurately, calculate tax liability, pay tax if applicable, and submit the form to the Income Tax Department. Stay informed and file your ITR hassle-free for a smooth financial year.
Explore provisions under the Income Tax Act related to PAN surrender or cancellation, covering scenarios like duplicate PAN, death, business discontinuation, and dissolution of firms. Understand the absence of a specific procedure for surrendering or canceling PAN, implications under Section 272B, and questions regarding the responsibility for canceling PAN after business discontinuation or firm dissolution.
As a consequence, any loss incurred by way of an expenditure by an assessee for any purpose which is an offence or which is prohibited by law is not deductible in terms of Explanation 1 to Section 37 of the Act.
