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Income Tax : Capital gain is considered as the gain/profit on sale of property which is arrived at by deducting the Purchase Price from its Sal...
Income Tax : The Indian government remains married to promoting entrepreneurship and profitable development through duty impulses for startups ...
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 : 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 : Delhi High Court examines Nokia Network OY’s Permanent Establishment (PE) status in India, addressing taxation on software reven...
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 : 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...
Understand tax implications of financing a wholly owned subsidiary through loans or equity, covering Sections 36(1)(iii), 57 of IT Act, and 186 of Companies Act.
Angel tax removal promises easier investments for startups. However, concerns over valuation, existing litigations, and tax authorities challenges remain unresolved.
Section 40A(3) restricts cash payments exceeding ₹10,000 in business transactions. Exceptions apply for specific cases like transporters, government payments, etc.
ITAT Delhi held that bona fide error cannot be basis of imposition of penalty and hence imposition of penalty under section 270A of the Income Tax Act rightly deleted by First Appellate Authority.
ITAT Bangalore held that imposition of penalty under section 270A of the Income Tax Act on account of underreporting of income not justified as failing to furnish income tax return was bona fide.
New CBDT instruction outlines updated procedures for internal audit objections, emphasizing accountability, compliance, and efficiency in tax assessments.
Learn about capital gain exemptions under Sections 54, 54F, and 54EC of the Income-tax Act for property sales. Maximize tax benefits on LTCG with proper planning.
Explore five recent High Court decisions on income tax issues, including DTAA, FTS classification, MAT inclusion, reassessment orders, and reliance on external reports in tax assessments.
Learn what a salary certificate is, its importance in loan applications, tax filing, and visa processing, and view a detailed format for reference.
Proposals for simplifying the Income Tax Act: restoring deductions, lowering TCS, improving assessments, and introducing uniform taxation for a more transparent and fair tax system for individuals and trusts.
