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Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...
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 : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...
Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...
Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....
Income Tax : ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...
Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...
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...
Navigate the complexities of buying a home with a comprehensive RERA and Income Tax checklist. Learn to make informed decisions, ensure compliance, and safeguard your rights as a homebuyer.
Discover what to do if your application for registration as a legal heir is rejected in the Income Tax portal. Understand the grounds for rejection and steps to reapply for a successful approval.
Calcutta High Court held that revision application filed under section 264 of the Income Tax Act allowable on account of bonafide mistake which cannot be rectified by filing revised return since original return was filed belatedly.
ITAT held that profit from sale of property purchased to exploit commercially and sold as a stock in trade cannot be assessed to tax under the head capital gain and shall be assessed under the head, profit and gains of business or profession;
CBDT President is pleased to extend the ad-hoc appointments of the 161 Assistant Commissioners of Income Tax w.e.f. 12.11.2021 to 31.08.2022
Explore US partnership tax filing requirements, Form 1065 details, deadlines, and consequences for non-compliance. Get insights on SALT, accounting methods, and obligations for Indian partners.
Financial year 2022-23 is about to end, & new financial year is about to start. How should a taxpayer prepare himself for this year’s march ending?
If any mistake is apparent from the record, the Income-tax authority can rectify such mistake. An order of rectification is required to be passed within a period of 4 years from the end of the financial year in which the order which is sought to be rectified was passed.
Under various provisions of Income Tax act, Income tax departments calls for the financial information from various sources/reporting entity such as Banks, Registrar appointed under Registration act, 1908, Stock Exchanges, etc. AIS is the collection of information pertaining to taxpayer acquired by the department.
72,42,156 is the highest number of ITR filing in a day on 31st July 2022. 42.92% of total returns were processed within a span of 24 hours of furnishing of ITR. 19 banks onboarded on online tax payment system TIN 2.0. The Government has taken a number of measures in recent years to maintain continuity […]
