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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 Bangalore held that that mens rea is not an essential condition for imposing penalties under civil acts. Penalty u/s. 270A of...
Income Tax : Bombay High Court held that passing of ex-parte order without affording a reasonable opportunity of being heard to the assessee is...
Income Tax : Bombay High Court held that reopening of assessment without fresh tangible material based upon mere change of opinion is unsustain...
Income Tax : Delhi High Court directs tax authorities to review show-cause notices uploaded before 16 January 2024 and develop remedial measure...
Income Tax : Bombay High Court upholds AO's addition for unverified bogus purchases in PCIT vs. Kanak Impex. Decision based on Section 69C and ...
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...
Ideal fund of business deposited in Bank as Fixed Deposit (FD), Interest Income of Fixed Deposit is treated as Business Income. The assessee is a resident Company. As stated by the Assessing Officer, assessee is engaged in the business of construction, builder and developers etc. of residential houses, commercial building etc. In course of its […]
Learn about the format of resolution for reasonable remuneration to interested persons under Section 13 of the Income Tax Act. Understand the requirements for compensation in educational institutes.
CBDT notifies SEEPZ Special Economic Zone Authority under Section 10(46) of Income Tax Act, 1961 vide Notification No. 36/2022-Income Tax, Dated: 20.04.2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 20th April, 2022 Notification No. 36/2022-Income Tax S.O. 1882(E).— In exercise of the powers conferred by clause (46) of […]
CBDT notifies Gujarat Real Estate Regulatory Authority under Section 10(46) of Income Tax Act, 1961 vide Notification No. 35/2022-Income Tax, Dated: 20.04.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 20th April, 2022 Notification No. 35/2022-Income Tax S.O. 1881(E).—In exercise of the powers conferred by clause (46) of section […]
Infosys Limited Vs DCIT (ITAT Bangalore) The relevant ground with regard to the above issue are grounds 9.1 to 9.3. The Special Bench of the Tribunal in the case of Nagarjuna Fertilizders and Chemicals Ltd. v. ACIT reported in (2017) 78 taxmann.com 264 had held if rate of tax applicable under DTAA is lower than […]
Chinna Ponnu Ammal Trust Vs DCIT (ITAT Chennai) After perusal of Form No.10B as placed on record, it could be seen that the assessee has applied an amount of Rs.5,55,57,015/- for the purpose of charitable trust. However, as per Explanation-3 to Sec.11(1), the disallowance of Rs.48,69,504/- u/s 40(a)(ia) would not be considered as application of […]
Sri Suhas Suresh Shet Vs ITO (ITAT Bangalore) In the matter of condonation of delay in filing appeals beyond the limitation period, the courts are empowered to condone the delay, provided the litigant is able to demonstrate that there was ‘sufficient cause’ in preferring appeal beyond the limitation period. The Courts have also held that […]
AXA France Vie Vs ACIT (ITAT Delhi) It is evident, the demand in dispute is as a result of disallowance made under section 40(a)(ia) of the Act due to alleged non-compliance with the provisions of section 194D of the Act. It is the claim of the assessee that the provision contained under section 194D is […]
Discover why income tax is not as effective as it seems in developing nations. Explore the historical context and impact of income tax policies.
CBDT notifies Sharada Institute of Indian Management Research Foundation Trust under section 35(1)(iii) read with rules 5C and 5E of the Income-tax Rules, 1962 vide Notification No. 33/2022-Income Tax Dated- 19th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 19th April, 2022 Notification No. 33/2022-Income Tax S.O. 1875(E).—In […]
