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Income Tax : Advance tax is a system under which taxpayers are required to pay their taxes in installments throughout the financial year instea...
Income Tax : Learn the differences between TDS and Advance Tax, their applicability, payment schedules, penalties, and tax planning tips to ens...
Income Tax : Article explains provisions related to income from house property, calculation of such income, exemptions available, and applicabl...
Income Tax : Learn the key differences between tax avoidance and tax evasion in India, legal provisions, real-world cases, and government measu...
Income Tax : Understand the concept of an assessee under the Income Tax Act, its classifications, roles, responsibilities, and available tax be...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
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 : ITAT Pune allows Karad Urban Co-Op Bank to claim depreciation on AFS investments as per RBI guidelines, following judicial precede...
Income Tax : Gujarat HC orders 6% interest on delayed tax refunds under DTVSV Act, citing principles of natural justice. Refund delays due to a...
Income Tax : ITAT Chennai held that when cash is sourced out of recorded debtors, provisions of section 69A of the Income Tax Act could not be ...
Income Tax : Guwahati High Court's landmark judgment on the tax rate for carbonated beverages containing fruit juice as per FSSAI Regulation 2....
Income Tax : Interest income earned from staff loans and advances was incidental to the business of power generation and qualifies as “busine...
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 Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Bansiwala Iron & Steel Rolling Mills Vs DCIT (ITAT Jaipur) Since the A.O. is a quasi-judicial authority, who has to collect the evidences, material and then to adjudicate the matter after due and complete application of mind. The A.O. expected to record his own satisfaction before reaching to any conclusion. In our view, the A.O. […]
Explore important judicial precedents on income tax aspects in India. Learn about the case of Ashwani Kumar v. Income-tax Officer and its impact on Section 222 of the Income Tax Act, 1961.
The Heads of Tax Authorities of the BRICS countries, namely the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa held a virtual meeting here today under the Chairship of India.Shri Tarun Bajaj, Secretary, Revenue, Government of India, in his capacity as Head of Tax Authorities in India, presided over this meeting.
DTPA appraises FM about the problems and issues faced by the assessee and professionals in new Income Tax Portal after three months since its launch. DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. Place West, Ground Floor, Kolkata 700001 Ph 033-22420638 Ref. No. – DTPA/Rep/21-22/01 Date: 15th September, 2021 To, Mrs. Nirmala Sitharaman, Hon’ble Finance Minister, Government […]
Writ petition & Appeal to be filed with High Court and Supreme Court and circumstances thereof Article 32 and Article 226 of the Constitution provide two separate but parallel provisions of writ jurisdiction with the Supreme Court and High Courts respectively. Article 32 has been incorporated as a fundamental right and it provides for the […]
Ashwini Sahakari Rugnalaya & Res. Centre Vs CCIT & Ors. (Supreme Court) The short question which arises for consideration is the claim of the appellant for benefit under Section 10 (23C) (via) of the Income Tax Act, 1961 for the assessment years 1999-2000 to 2002- 2003. The benefits in terms of the section are available […]
DCIT Vs Dalmia Bharat and Industries Ltd. (ITAT Delhi) Now the questions arising before us in this group of appeals were as Under:- i. Whether assessment framed u/s 153C read with S; ection 143 (3) for assessment year 2006 – 07 and 2007 – 08 are barred by the limitation. ii. Whether the assessment order […]
Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assessees other than those who opted for New Tax Regime)
Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A single judge bench of the Calcutta High court on hearing the writ petition filed by the Mjunction Services Ltd.directed the Central Board of Direct Taxes (CBDT) to consider and dispose the representation regarding section […]
The main issue taken up by the appellant is that the notice issued under section 153C by the Deputy Commissioner of Income Tax (DCIT), Central Circle, Bengaluru are without jurisdiction and hence invalid thereby rendering all the subsequent proceedings void ab initio.
