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Income Tax : Learn how to smartly allocate your tax savings in 2025—repay loans, invest in mutual funds, boost spending, or explore business ...
Income Tax : A PAN (Permanent Account Number) is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India to ...
Income Tax : Understand USA corporate tax in 2024, including tax rates, filing deadlines, estimated payments, EINs, and penalties. Stay complia...
Income Tax : Telangana HC clarified that capital gains tax applies only when ownership or possession is transferred along with consideration....
Income Tax : Explore what’s taxable and non-taxable in salary, including allowances, perquisites and deductions. Learn key components and tax...
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 Lucknow quashed assessments in Shri Navin Jain vs. DCIT, citing mechanical approval under Section 153D. Read key details and ...
Income Tax : ITAT Pune rules on Foreign Tax Credit (FTC) in JCIT (OSD) Vs Raj Surendra Mohan Hajela, addressing the delay in Form 67 submission...
Income Tax : Karnataka High Court ruled on V.S. Chandrashekar vs. ACIT regarding tax treatment of land transactions, applicability of Section 5...
Income Tax : Chhattisgarh High Court rules on Aarti Sponge & Power Ltd. vs. ACIT-2(1), addressing the 20% pre-deposit requirement for stay of t...
Income Tax : Assessee being a subsidiary of M/s. Rajasthan State Mines and Minerals Ltd. (RSMML) (a Government of Rajasthan Undertaking). It en...
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...
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...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
ITAT Kolkata cancels ₹20,000 penalty imposed on SNG Microns by NFAC, citing lack of proper notice and communication as grounds for the decision.
ITAT condones a 2,330-day delay in appeal filing due to the death of the chartered accountant, Covid-19, and the bonafide belief in ongoing rectification efforts.
ITAT Mumbai restores Ivan Santosh Fernandes’ appeal, citing Covid-based extension, for reassessment on AY 2012-13. Penalty appeal also directed for fresh review.
ITAT Mumbai dismisses tax appeal against Old Girtonians Association due to CBDT’s revised monetary limits under Circular No. 9/2024 for appeals below ₹60 lakh.
Punjab & Haryana HC rules that CBDT’s monetary limits for filing appeals don’t apply to international tax cases involving DTAA. Dismisses appeal in Perfetti Van Melle case.
Learn about the Direct Tax Vivad Se Vishwas Scheme, 2024, designed to resolve income tax disputes and reduce litigation costs for taxpayers.
Understand set off and carry forward of losses per sections 70-80 of Income Tax Act, 1961. Covers loss adjustments for income types and carry-forward periods.
ITAT Ahmedabad held that AO and CIT(A) confirmed the addition since there was non-compliance on the part of the assessee. Thus, one more opportunity granted to the assessee to present its case however with a direction to deposit INR 2000 to the Prime Minister’s Relief Fund.
The present appeal is preferred against order passed by ITAT pertaining to assessment year 2012-13. Appeal before the Tribunal was against appellate order dated 21st September, 2023.
Delhi High Court held that the assessment of tax under Section 143(1) of the Income Tax Act is a self-assessment and in a strict sense cannot be stated as assessment framed by the AO for the purpose of reopening of assessment under section 147.
