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Income Tax : Understand USA corporate tax in 2024, including tax rates, filing deadlines, estimated payments, EINs, and penalties. Stay complia...
Income Tax : Telangana HC clarified that capital gains tax applies only when ownership or possession is transferred along with consideration....
Income Tax : Explore what’s taxable and non-taxable in salary, including allowances, perquisites and deductions. Learn key components and tax...
Income Tax : Check the latest TDS rates for FY 2025-26 (AY 2026-27) on salary, interest, rent, and more. Understand applicable thresholds and d...
Income Tax : NSC offers 7.7% interest, tax benefits under Section 80C, and capital security. Learn about its taxability, lock-in period, and in...
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 Lucknow quashed assessments in Shri Navin Jain vs. DCIT, citing mechanical approval under Section 153D. Read key details and ...
Income Tax : ITAT Pune rules on Foreign Tax Credit (FTC) in JCIT (OSD) Vs Raj Surendra Mohan Hajela, addressing the delay in Form 67 submission...
Income Tax : Karnataka High Court ruled on V.S. Chandrashekar vs. ACIT regarding tax treatment of land transactions, applicability of Section 5...
Income Tax : Chhattisgarh High Court rules on Aarti Sponge & Power Ltd. vs. ACIT-2(1), addressing the 20% pre-deposit requirement for stay of t...
Income Tax : Assessee being a subsidiary of M/s. Rajasthan State Mines and Minerals Ltd. (RSMML) (a Government of Rajasthan Undertaking). It en...
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...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim exemptions under Section 10(26).
CBI arrests two Income Tax employees in Silchar for accepting Rs. 4,000 bribe as part of a Rs. 10,000 demand for PAN card closure. Investigation continues.
Explore global tax complexities of cryptocurrency, focusing on jurisdiction, pseudonymity, and the need for an international framework.
Understand ITR exemption under Section 194P for senior citizens 75+ years. Learn eligibility, conditions, and other tax benefits available in India.
India explores simplifying direct tax laws via a new code or amendments. Challenges include black money, inflation, manpower gaps, and attracting FDI.
Understand provisions of TCS under Section 206C(1H) and TDS under Section 194Q, including applicability, rates, exclusions and compliance requirements for businesses.
Delhi High Court upheld the ITAT’s decision, concluding that the comparability analysis must focus on functional similarity rather than strict product comparability, and that certain disallowances made by the Assessing Officer were unjustified.
Analysis of Hyundai Rotem Vs ACIT case by ITAT Delhi on tax assessments, time limits under Section 144C, and procedural compliance for international taxation cases.
The Assessing Officer (hereafter AO) had made an addition to the income as returned by the respondent under Section 68 of the Act and disallowed the addition made under Section 14A of the Act.
ITAT Delhi resolves Cheil India Pvt. Ltd.’s appeal on CSR expense disallowance under Section 80G. Tribunal observed that CSR expenditures could qualify as donations if paid to approved institutions, distinct from direct CSR project costs
