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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...
This article provides easy analysis of section 194Q-TDS on Purchase of Goods and Section 206C(1H)-TCS on sale of goods. The article also covers the latest CBDT clarifications on section 194Q and 206C(1H) of the Act. finance Act 2020 had amended section 206C of the Income-tax act 1961 by inserting a new subsection (1H) which says […]
Non-residents are subject to tax in India with respect to the income accrued/ deemed to accrue in India or received/ deemed to be received in India as per the provisions of the Income Tax Act, 1961 (‘Act’). While the international tax landscape is seeing a lot of changes in form of OECD BEPS Pillar 1 […]
ITO Vs Indica Industries Pvt. Ltd. (ITAT Delhi) Unless and until the position in initial year is disturbed, it is not possible to take a different view for the subsequent assessment years . It can be seen from the impugned order that ld. CIT(A) noted that assessment year 2014-15 is not the initial year to […]
DCIT Vs Paveljeet Singh Ruppal (ITAT Delhi) The Assessing Officer has to demonstrate from the records that there has been a failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Here in this case, the assessee has duly disclosed the factum of total secured loan, total […]
ACIT Vs Sahyog Infrastructure Pvt. Ltd (ITAT Delhi) Based on the above reasons recorded, notice under Section 148 of the act was issued to the assessee on 25th of June, 2013. From the above reasons recorded it is evident that all these documents were available with the ld. Assessing Officer at the time of making […]
E- book on presumptive Taxation Titled ‘A 360° approach to Presumptive Taxation’. The book is a very well complied guide covering various aspects of the presumptive taxation. The book will certainly benefit the readers about the intricacies of presumptive taxation and will play a pivotal role in shaping and guiding the tax practitioners in their […]
In a move aimed to further improve taxpayer services in alignment with the Taxpayers’ Charter, the Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme. Grievances can be furnished as under: Grievance Related to Email ID For Faceless assessments samadhan.faceless.assessment@incometax.gov.in For Faceless penalty samadhan.faceless.penalty@incometax.gov.in For […]
It was also argued that the respondent Assessing Officer has also committed an error in giving only four days’ time to the petitioner to respond to the show cause notice.
The Government has introduced the Taxation Laws (Amendment) Bill, 2021 (no. 120 of 2021), which seeks to provide relief in respect of income deemed to accrue or arise to a non-resident due to direct and indirect transfer of capital assets by non-residents. Below is a brief overview of the same. Amendment to Explanation 5 to section […]
जून और जुलाई आयकर रिटर्न भरने का सबसे व्यस्त महीना होता है लेकिन इस समय अगस्त आ चुका है लेकिन आयकर रिटर्न्स भरने की काम ने गति नहीं पकड़ी है और 1 जून को बंद होके 7 जून 2021 को नई सुविधाओं के साथ प्रारम्भ होने वाली आयकर विभाग की साईट अभी अगस्त माह के […]
