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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...
Employee Stock Ownership Plan enables an employee to establish ownership in the company by obtaining its shares. Earlier, such plans were created by top companies for their employees at managerial level to incentivise them, and to develop a sense of ownership and belongingness in the organisation.
Learn all about trust creation, trust deed, and registration as per the Indian Trust Act 1882. Understand the types of trusts in India and how they are governed by the Indian Trusts Act.
The doctrine of Corporate Criminal Liability is a very important part with respect to the relations between a corporation and a person. The doctrine states about the liability of the corporates for any acts which is done by agents or employees.
The officer is to make an assessment to the best of his judgment against a person who is in default as regards supplying information. He must not act dishonestly or vindictively or capriciously because he must exercise judgment in the matter. He must make what he honestly believes to be a fair estimate of the […]
CBDT notifies Two new Income Tax Rules vide Notification No. 93/2021- Income Tax dated 18th August, 2021 i.e. Rule 12AA. Prescribed person for the purposes of clause (c) and clause (cd) of section 140 and Rule 51B. Appearance by Authorised Representative in certain cases. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) […]
Vijay Kumar Devnani Vs ITO and Anr. (Madhya Pradesh High Court) Madhya Pradesh High Court Stays Section 148 notice issued after 31st March 2021 as per the section 148 provisions which were effective only till 31st March 2021. The petitioner has challenged the validity of the Notification No. 20/2021 dated 31.03.2021 and Notification No. 38/2021 […]
Sai Kripa Farms Vs ITO (Madhya Pradesh High Court) In this judgements notice issued u/s 148 have been stayed by the Madhya Pradesh High Court for being issued after 31st March, 2021 as per the omitted provisions. The petitioner has challenged the validity of the Notification No. 20/2021 dated 31.03.2021 and Notification No. 38/2021 dated […]
DCIT Vs Heilgers Development & Construction Company Pvt. Ltd (ITAT Kolkata) The loan amounts in question treated as deemed dividend u/s 2(22)(e) by the AO were taken by the assessee-company from the three concerns on interest and since the said lending companies were compensated by interest paid by the assessee-company on the loans, the assessee-company […]
Zeenath Transport Company Vs ACIT (ITAT Bangalore) The assessee during the year made payment of Rs.10 lakhs and 20 lakhs towards membership fee and legal fund respectively to Federation of Indian Mineral Industries. The federation of Indian Mineral Industries is an association of industries i.e engaged in the business of minerals and is a non […]
Sanjay Baulal Surana Vs ACIT (Gujarat High Court) 1. The function of the assessing authority at this stage is to administer the statute and what is required is a reason to believe and not to establish fact of escapement of income and therefore, looking to the scope of Section 147 as also sections 148 to […]
