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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 : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
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 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 : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...
Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....
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...
w.e.f. 1.4.1999 computer software been included with computers for rate of depreciation in Rules, entitling assessee to 60% depreciation rate
Section 148 notice issued on non-existing company in spite of revenue having notice and knowledge of non-existence of such Company is quashed
Delhi High Court sets aside a tax notice against Majestic Handicraft Private Limited, challenging the claim of accommodation entries.
Addition u/s 43B on account of External Development Charges (EDC) not paid to HUDA before due date of filing return of income not justified
As the turnover of the assessee was less than the prescribed limit fixed for tax audit, provisions of Section 44AB of the Act are not applicable to the assessee. When the provisions of Section 44 AB of the Act are not applicable to the facts of the case, levy of penalty under Section 271B of the Act does not arise.
Share application money is not loan or deposit and hence not falls u/s 269SS of the Act and penalty u/s 271D cannot be levied.
Explore the detailed analysis of the new tax regime under sections 115BAC, 115BAA, and 115BAD for F.Y. 2023-24 A.Y. 2024-25. Understand the impact on taxpayers, key changes, and factors influencing the choice between old and new tax regimes. Stay informed to make well-informed decisions and comply with the latest tax regulations.
ITAT Hyderabad’s decision exempts Ochre Media Pvt. Ltd. from late filing fees under Section 234E for TDS returns, citing procedural amendments.
ITAT Delhi held that if in the initial year of claim the depreciation, is allowed, the claim cannot be disturbed in the subsequent years.
Understand the taxation of winnings from online gaming like Dream11, Jungle Rummy, etc., as Section 115BBJ replaces Section 115BB before April 1, 2024. Learn about the new TDS provisions under Section 194BA, effective from July 1, 2023, with no threshold limit, impacting online gaming companies and players. Stay informed to comply with tax regulations and avoid penalties.
