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Income Tax : Plan your finances before March 31 with this year-end tax checklist. Learn about old vs. new tax regimes, investments, deductions,...
Income Tax : Delhi HC ruled WGF Financial Services can't claim bad debt deduction under Sec. 36(1)(vii) as furnishing guarantees wasn't its reg...
Income Tax : Switzerland halts the unilateral application of the MFN clause under its tax treaty with India from 2025, following the Indian Sup...
Income Tax : Explore 151 FAQs on Finance Bill 2025, covering tax provisions, IFSC benefits, TDS/TCS, transfer pricing, and more for informed fi...
Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
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 Mumbai rules on Nickunj Eximp case: Disputes over bogus purchases, demonetization cash deposits, and assessment procedures....
Income Tax : The Delhi High Court quashed a tax reassessment notice issued to Indus Towers Ltd. for AY 2009-10, citing procedural lapses and mi...
Income Tax : ITAT Mumbai condones a 314-day delay in Atlantic Bio Medical Pvt. Ltd.'s appeal, citing a bona fide mistake in tax filing and a ri...
Income Tax : Gujarat High Court rules that a jurisdictional assessing officer cannot override the faceless assessment scheme under Section 151A...
Income Tax : ITAT Bangalore held that that mens rea is not an essential condition for imposing penalties under civil acts. Penalty u/s. 270A of...
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...
Understand Provident Fund (PF) and Employee State Insurance (ESI) – the terms, regulations, and how they impact business expenditures. Learn about the mandatory scenarios, contribution rates, registration processes, and the Income Tax perspective for entities. Stay informed for efficient compliance.
TPO/AO cannot apply wrong method in the absence of material ie: audited financials of AE. More so, TPO/AO cannot even give the benefit as well to assessee for non cooperation for providing the audited financials of AE.
Unravel the intricacies of CBDT Instruction No. 01/2022 on SC Judgment Union of India vs Ashish Agarwal. Dive into the curious case of missing provisos in Section 149 and a miscounting of 3 years, exposing potential flaws and implications in reassessment notices. Stay informed on the evolving landscape of tax regulations.
ITBA Step–by–Step Document No. 1 w.r.t. CBDT Instruction No. 1 of 2022Dated 12.05.2022 Steps to be followed in ITBA for the cases impacted by Hon’ble Supreme Court decision dated 04.05.2022 in the case of Union of India vs. Ashish Agarwal Dated 12.05.2022 NOTE: The AOs/ITBA users should refer to Instruction No. 1 of 2022 dated […]
Demystify TDS on payments by E-Commerce Operators to participants with Section 194-O. Understand the nature, deductor responsibilities, time of deduction, rates, and exemptions. Stay compliant and navigate the complexities of E-Commerce transactions
Understanding the reassessment procedure for Section 148 notices after the Supreme Court’s verdict in Union of India Vs. Ashish Agrawal.
Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme Court in the case of Union of India Vs Ashish Agarwal ,Civil Appeal No. 3005/2022, Dated: 04/05/2022 in the matter of notices u/s 148 issued between 01-04-2021 to 30-06-2021 under the pre amended provisions Income Tax Gazetted Officers’ […]
New Income Tax rules: PAN, Aadhaar mandatory for cash deposits or withdrawals above Rs 20 lakh. Stay compliant with the latest regulations.
In India, the underlying idea behind the scheme of APA is to make tax administration better and efficient by encouraging taxpayers to provide all the data essential for a comprehensive transfer pricing analysis and to motivate them towards engaging a mutual agreement.
Finance Act, 2022 has brought new Income Tax return filing facility to be known as ‘Updated Return’. For this purpose a new sub section 8(A) has been added to section 139 of the Income Tax Act (w.e.f. 01.04.2022). Simultaneously, a new Rule 12AC has also been inserted in the Income Tax Rules, wherein form and manner of filing updated return has been prescribed.
