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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...
Discover the advantages of Faceless Tax Assessment for taxpayers and agencies. Make income tax assessment easier and less time-consuming, plus reduce corruption & travel costs.
Learn the difference between the 2020 & 2021 faceless appeals scheme. This analysis examines the process, advantages & possible improvement for taxpayers & the Income-tax Department.
ITAT Mumbai held that Industrial Promotion Subsidy received under Package Incentive Scheme 2007 declared by the Government of Maharashtra is capital receipt and hence not taxable.
ITAT Pune held that repairs & maintenance expenditure incurred in rented workshop and showroom is revenue expenditure and allowable as deduction under section 30(a)(i) of the Income Tax Act,1961
ITAT Chennai held that test applied by AO that land was sold to a company which was not carrying agricultural operations is not justifiable for denying exemption to sale of agricultural land u/s 2(14) of the Income Tax Act.
ITAT Mumbai held that Executive search fee is not ‘fee for technical services’ under Article 12(5)(a) as well as 12(5)(b) of the India Netherlands Tax Treaty.
ITAT Pune held that the amount received as compensation for pre-closure of BOT (Build, Operate, Transfer) project is capital receipt. Hence, treating the same as revenue receipt by invoking provisions of section 28(ii)(d) of the Income Tax Act is unsustainable in law.
Delhi High Court in the case of Usha Rani Girdhar v. ITO held that Assessing officer cannot add primary allegation in Notice by issuing Supplementary Notice.
Pallavi Naresh Shah Vs. Union of India (Bombay High Court) No reply was filed by the assessee due to technical glitch on portal. order passed subsequently, under Section 147 r/w section 144B of the Income Tax Act, 1961 set aside. Matter remanded back. The Petitioner challenged the order of assessment passed under section 147 read […]
Non-resident Indians (NRIs) are taxed in India on their income that is earned or accrued in India. NRIs are also taxed on certain capital gains, such as the sale of property in India. NRIs are not taxed on income earned outside of India, unless it is deemed to be accrued or deemed to have arisen in India.
