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Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Gujarat High Court held that reopening of assessment sustainable on failure of true and full disclosure of demanded material on the part of the petitioner.
Bombay High Court held that in absence of any receipt of new information or reference to any new material on record, it can be concluded that re-opening of assessment is merely because of change of opinion and the same is unsustainable in law.
ITAT Delhi held that as common area maintenance charges are not forming part of the actual rent paid to the owner by the assessee, TDS on the same is deductible under section 194C @2% and not under section 194.
E-filing Form 10F for non-residents Understand the impact of recent CBDT notifications making it mandatory. Learn the requirements and compliance burden for non-residents, including obtaining PAN and appointing professionals for DSC. Examine the impact on the tax department and increased transparency in transactions with non-residents. Stay informed to ensure compliance with Tax Treaties and avoid penalties.
Shri Narendra Shantikumar Firodia Vs DCIT (ITAT Pune) Phraseology in section 50C(1) of the Act only covers exclusively land or building or both and does not refer to any right in land or building. Thus, the expression land or building in its coverage is quite distinct from the expression any right in land or building. […]
WTS Energy Dmcc Vs DCIT (Delhi High Court) Double Tax Avoidance Agreement obtaining between India and UAE does not contain any article concerning FTS. The petitioner, who is a non-resident and does not have a PE in India, claims that the subject income is “business income.” It is because of these varying stands, that a […]
DCIT Vs Allsec Technologies Ltd (ITAT Chennai) ITAT held that the assessee cannot be expected to deduct TDS on payment made to non-residents on the basis of subsequent amendment to the law with retrospective effect from earlier date, because the assessee cannot foresee the amendment and deduct TDS and hence, we are of the considered […]
HUF is owner of the said agricultural land though it is registered in the name of the coparcener, as the HUF is enjoying all the benefits of the said agricultural land.
Filing ITR-U Return in India: Discover the benefits, process, and additional income tax payable. Learn about the updated return facility introduced in Union Budget 2022 under Section 139(8A) for taxpayers who missed the ITR due date. Understand the conditions, benefits, and calculation of additional tax payable. Stay informed and compliant with the tax laws.
Understand the tax implications of arrears of salary and explore relief options under Section 89(1). Learn the calculation process for tax relief and the importance of filing Form 10E to claim relief. Stay informed about taxability, provisions, and steps to ensure a smooth process.
