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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 disallowance u/s 40(a)(ia) of the Income Tax Act unjustified as there was due compliance with provisions of section 194C(6). Violation of provisions of section 194C(7) doesnot attract disallowance u/s 40(a)(ia) of Income Tax Act.
Navigate the complexities of Capital Gains Tax on the sale of shares. Uncover the tax implications based on holding periods, LTCG, STCG, and loss scenarios. Expert insights from a GST and Income Tax Practitioner. Contact at 9024915488.
New v/s Old tax regime Income tax calculator for FY 2023-24has been designed specially for salaried class persons who are having age less than 60 years and does not have income from Business or Profession and Capital Gain. This is only to have an idea that which tax regime will be beneficial. Please follow the […]
Unravel the essentials of filing an Income Tax Return (ITR) with crucial tips: document preparation, correct form selection, income declaration, deduction claims, and timely filing. E-verify your ITR for a hassle-free process.
It is a well settled law that, reasons for formation of belief must have rational connection with or relevant bearing on formation of belief.
The Old Tax Regime and New Tax Regime refer to two different sets of tax rules that individuals in India can choose from to calculate their income tax liability under the Income Tax Act, 1961.
If you are planning to purchase a new flat, there are various ways to save tax under the Income Tax Act. In this article, we will discuss some of the most common ways to save tax on the purchase of a new flat.
Shanthi R. Pai Vs ITO (ITAT Bangalore) AO made addition of Rs.26,79,000/- on account of cash deposits. Assesee stated that she is a home maker & her husband was employed overseas as Chartered Accountant serving overseas from 1975 to 2008. He used to send money from abroad and also invested in Term Deposits in India […]
SAP Labs India Private Vs ITO (Supreme Court of India) Whether in every case where the Tribunal determines the arm’s length price, the same shall attain finality and the High Court is precluded from considering the determination of the arm’s length price determined by the Tribunal, in exercise of powers under Section 260A of the […]
ITO (TDS) Vs Hadpawat Enterprises (P) Ltd. (ITAT Jodhpur) From a plain reading of second proviso to Section 272A(2) which is inserted by the Finance Act, 2012 w.e.f. 01-07-2012, it is clear that penalty under clause (k) of Section 272(A)(2) cannot be levied on or after the 1st Day of July, 2012. In the instant […]
