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Income Tax : Learn about Income Tax Act Section 147 assessment proceedings: reasons for reopening, notice issuance, objections, assessment proc...
Income Tax : Understand the differences in residential status under the Income Tax Act and FEMA for Indians working abroad. Know tax implicatio...
Income Tax : Learn which ITR form applies to your income type, residential status, and income limits. A guide to ITR 1, 2, 3, 4, 5, 6, and 7....
Income Tax : This blog will examine the causes of tax evasion in India, the effects it has on society, and possible remedies to guarantee a mor...
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 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 : Punjab & Haryana HC quashes Section 148 notice issued by jurisdictional AO, ruling that only NFAC has authority under CBDT Circula...
Income Tax : Punjab & Haryana High Court quashes notice u/s 148 issued by jurisdictional AO, ruling that only NFAC has authority post CBDT Circ...
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 : 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...
From April 2025, foreign taxes withheld must be included in total income for accurate reporting under section 198. Aims to prevent double deductions.
The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced holding periods, revised tax rates, and alignment of provisions for resident and non-resident taxpayers.
From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific changes for individuals and HUFs.
Explore amendments to section 80G for filing approval applications by funds and institutions, effective from October 2024, ensuring compliance with donation deduction norms under the Income-tax Act.
From April 1, 2025, firms must deduct 10% TDS on payments to partners exceeding Rs 20,000 annually, under new Section 194T of the Income-tax Act.
Learn about the updated timelines for processing applications by trusts, funds, and institutions seeking tax exemption under section 12AB or approval under section 80G, effective from October 2024.
From October 2024, TDS under section 194-IA will apply based on total consideration for property sales, not individual payments. Update to prevent evasion.
Explore Budget 2024’s new tax provisions on income from buy-back of shares for domestic companies. Learn how these changes impact shareholders and tax calculations.
The Finance (No.2) Act, 2004 revision increases STT rates on derivatives starting October 1, 2024. Key changes include updated rates on options and futures.
Learn about the rationalisation of provisions for charitable trusts and institutions under the Income-tax Act, merging two regimes to streamline exemptions and procedures. Changes effective from October 1, 2024.
