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Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
Income Tax : Analyzing if increased TDS thresholds and reduced rates enhance taxpayer liquidity or just shift tax payments to advance tax. Read...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : Recent changes in India's income tax structure, particularly the introduction of rebates, have led to some confusion among taxpaye...
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 Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
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...
Taxation is an integral part of any economy for financial management of any Government. Such taxes are not of recent origin rather there is evidence that taxes were levied since ancient times in various forms which may be in kind like grains, gold and forest produce or it may be in the form of money.
The ITAT directed the ld. AO directed to consider only those investments which had actually yielded exempt income during the year while working out the disallowance under third limb of Rule 8D(2) of the Rules.
Additional depreciation on purchase of raw material and making packing material was manufacture as the final product was a commercially, physically and chemically different and a very important factor that the assessee had been consistently regarded as manufacture by various Government Department and Agencies.
ITAT Kolkata held that as per board’s instruction CBDT circular 1/2011 dated 31.01.2011, in the case of non-corporate assessee in non-metro cities, the ITR filed upto Rs. 15 lacs has to be assessed by ITO and therefore in the instant case the assessment is framed by the Assistant Commissioner of Income Tax in is void, ultra vires and nullity in the eyes of law.
ITAT Kolkata held that income from sale transaction of impugned land property by applying provisions of section 45(2) of the Income Tax Act should be done after obtaining the pending valuation report from DVO to arrive at fair market value as on the date of conversion.
Understanding the Liberalised Remittance Scheme and TCS: Updated Regulations for 2022. Learn about the rules and limits for remitting funds outside India.
SC held that the provisions of section 43B would not apply to the provisions of section 36(1)(va) of the Act in respect of employees contribution.
In this article I want to introduce tax planning hints for taxpayers having housing loans and what are additional benefits available to taxpayers for claiming interest on housing loan under section 80EE and 80EEA
ITAT Mumbai held that assessee duly furnished details like PAN, sub-contract amount and details of TDS justifying payment to sub-contractors. Merely disallowing 10% of sub-contract expense without verifying the veracity of assessee’s claim based on the evidences produced is unsustainable in law.
Delhi High Court held that as the exercise of jurisdiction of Delhi High Court in case where the jurisdictional assessing officer is located outside NCT of Delhi in earlier judicial ruling is doubted. The matter is referred to larger bench of Delhi High Court.
