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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...
Revenue cannot make the additions under Section 69A for the reason that assessee has not cooperated with the department.
Corrtech International Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) The Assessing Officer disallowed the claim of Service Tax on the ground that the said demand was related to earlier years and the said Service Tax liability of the assessee or the recipient was on that point of time disputed by the parties. The Assessing Officer has […]
Penalty under Section 271E is not permissible in the absence of regular assessment framed against the assessee by the Revenue.
The APA determines the transfer pricing methodology for pricing an enterprises’ future international transactions or certain specified domestic transactions.
Understanding the concept of Angel Tax & its taxability under the Income Tax Act 1961. Learn how it impacts entrepreneurs and new ideas.
CBDT issues Instruction No. 01/2022 regarding Implementation of Hon. Supreme Court’s Judgment in Union of India vs. Ashish Agrawal dated 04.05.2022 Instruction No. 01/2022 | Dated: 11th May, 2022 F. No 279/Misc./M-51/2022-ITJ Ministry of Finance Department of Revenue Central Board of Direct Taxes ITJ Section New Delhi Subject: Implementation of the judgment of the Hon’ble Supreme Court dated 04.05.2022 […]
CBDT Issues Guidelines for compulsory selection of Income Tax returns for Complete Scrutiny during the Financial Year 2022-23 and procedure for compulsory selection in such cases vide Instruction No. F.No.225/ 81/2022/ITA-II Dated: 11th May, 2022. CBDT notifies Scrutiny criteria/Guideline for following parameters for compulsory selection of returns for Complete Scrutiny- 1. Cases pertaining to survey […]
Advances rent during the course of opening of showroom were given in the course of business by assessee and for the purpose of commercial expediency. Therefore, forfeiture of the same by the concerned party had rightly claimed by assesseee as business loss.
Office Order No. 93 of 2022 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Chief Commissioner of Income Tax (CCIT) (level 16 in the pay matrix Rs. 2,05,400-2,24,400/-) for the panel year 2022 on in-situ basis w.e.f. the date of assumption of charge of the post by them and until further orders:
Understanding the tax implications of appreciation in the value of foreign assets held by Insurance Companies due to currency devaluation.
