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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 : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...
Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...
Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...
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 : Advocate Amardeep Soni & Advocate Harsha Soni Gemplus India Pvt. Ltd. Vs ACIT (ITAT Bangalore) A Case Study of ITAT BANGALORE...
Income Tax : Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services Ind...
Income Tax : ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO,...
Income Tax : ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for un...
Income Tax : ITAT Cochin remands Thrissur Co-op Society’s demonetization cash deposit case to CIT(A) for a fresh decision on merits after ex-...
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...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
ITAT Delhi held that addition of unexplained credit u/s 68 of the Income Tax Act sustained as the appellant failed to provide any explanation with regard to the nature and source of the credit.
ITAT Ahmedabad held that interest income related to FD interest, interest from customer’s receipts and interest income from business advances is eligible for deduction under section 80IAB of the Income Tax Act.
ITAT Pune held that waiver of cash loan by holding company is not income within the purview of section 28(iv) of the Income Tax Act. Accordingly, addition unsustainable.
Telangana High Court held that writ jurisdiction under Article 226 of the Constitution of India not invocable as adequate and effective alternative remedy under Section 144C of the Act by way of filing objections before the Dispute Resolution panel available to the petitioner.
ITAT Mumbai held that while computing notional rent, rent should be estimated on the basis of municipal rateable value.
Explore the nuances of Capital Gain Tax Exemption on jointly owned property in India. Understand statutory provisions under Section 54 and Section 54F, judicial pronouncements, and salient features for tax-savvy property transactions. Stay informed to optimize your tax benefits.
Explore the intricate taxation system of Mexico and its impact on Indias trade relations. Learn about resident and non-resident tax rates, corporate tax, VAT, and recent reforms. Stay informed for successful cross-border trade.
The virtual economy has given a way not only to unimaginable types of digital transactions. Also to a completely new economic arena consisting of multiple business participants. Smartphone usage has become the primary source of content consumption, encouraging new avenues of the digital economy like online advertising, and data monetization, leading to an all-inclusive becoming.
Navigate the Income Tax e-Filing portal with ease! Understand the categories of grievances, from Assessing Officers to e-Filing, CPC-ITR, CPC-TDS, DIT(Systems), NSDL, and UTIITSL. Learn to address issues related to assessments, e-filing, TDS, refunds, PAN, and more. Ensure a seamless tax filing experience.
MAT credit should be accounted in books as it satisfies definition of Asset as per Framework for preparation and presentation of Financial Statements
