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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 Delhi supports household savings explanation for cash deposits up to Rs.2.50 lakh, referencing CBDT Instruction and prior rulings.
Confused about choosing the right tax reg Understand the options, deductions, and exemptions in the old and new tax regimes. Get tips on making the right choice based on your income, savings, and deductions. Know why opting for the old tax regime for TDS on salary is wiser. Ensure compliance with the latest CBDT circular (no 04/2023) and make an informed decision for a stress-free tax filing experience.
ITAT Ahmedabad held that invocation of proceedings u/s 153C of the Income Tax Act unsustainable as AO has not put on record that material seized during the course of third party search belongs to the assessee.
Legal battle: Anilkumar Kantilal Trivedi challenges ITO’s Section 50C addition on agricultural land sale. Appeal details and key arguments analyzed.
HC held that with respect to objections & satisfaction note, AO will pass a speaking order; copies of which will be furnished to petitioner
Exemption u/s 11 can be availed only if return of income was filed in the manner prescribed under section 139(4A) of Income Tax Act
Since the quantum addition stands deleted by the ITAT in the above order, there remains no basis for levy of penalty under section 271(1)(c)
As petitioner is already before Appellate Authority, so it is not appropriate to detain the petition, as petitioner cannot ride on two horses: HC
ITAT Pune confirms disallowance under Section 40(a)(ia) for failure to deduct TDS on warehouse charges, emphasizing tax compliance in Vandana Dinehkumar Inani Vs ITO case.
w.e.f. 1.4.1999 computer software been included with computers for rate of depreciation in Rules, entitling assessee to 60% depreciation rate
