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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Explore the Finance Act 2024 amendments impacting income tax rates, TDS, capital gains, and more. Stay informed on key changes affecting businesses and individuals.
Calcutta HC rules that the assessee in ‘Education Research And Development Foundation Vs Union Of India’ can deposit less than 20% of disputed tax for a stay of demand.
Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised tax slabs for better compliance.
Explore the major changes proposed in the Income-Tax Act under the Final Budget 2024. Learn about simplified tax regimes, capital gains rates, and reduced litigation.
MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2024 (Clauses referred to are clauses in the Bill) FINANCE (No. 2) BILL, 2024 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance (No. 2) Bill, 2024 (hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred […]
Calcutta HC invalidates Section 144B assessment order due to insufficient response time given. Court remands case, emphasizing violation of natural justice.
Discover highlights of India’s Union Budget 2024-25: low inflation, ₹2 lakh crore for youth schemes, 109 crop varieties, and extensive tax reforms by Finance Minister Nirmala Sitharaman.
Union Finance Minister outlines tax reforms in Budget 2024-2025, including Income-tax Act review, digitalization of tax services, and Vivad se Vishwas Scheme for dispute resolution.
Explore the Union Budget 2024-25 highlights by Finance Minister Nirmala Sitharaman: ‘Angel tax’ abolished, corporate tax for foreign companies reduced to 35%. Simplified rules for FDI, climate finance taxonomy
Discover the Ministry of Finance’s latest tax changes: ₹75,000 standard deduction, enhanced pension benefits. Potential savings of ₹17,500/year for salaried employees.
