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Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...
Income Tax : Compare the New and Old Tax Regimes for FY 2025-26. Learn about tax rates, exemptions, deductions, and which regime suits your inc...
Income Tax : Appeal against penalty under Section 271(1)(b) citing ill health, lack of awareness of Faceless Scheme, and procedural lapses. Req...
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 : 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 Jaipur quashes 271D penalty against Balbir Singh, ruling funds received were advances, not loans, after verifying property ow...
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 : 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 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...
In the case of Mohd Shahid Mohd Yusuf Qureshi Vs DCIT (ITAT Mumbai), an ex-parte order was remanded due to denial of proper opportunity. Full analysis here.
Naresh Chandra Kalwani Vs PCIT case discusses excess stock, business assessment, and the applicability of section 69/69A/115BBE under Income-tax Act.
ITAT Mumbai deletes addition on whole amount from sale of shares in Nikunj Kaushik Shah Vs ITO case, criticizing unwarranted litigation, incompetence & casual approach
Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of unsubstantiated share capital into the account of the assessee under Section 68 of the Act.
Detailed guidelines from the Central Board of Direct Taxes for the interim action plan FY 2024-25. Learn about key result areas, timelines, and compliance measures.
ITAT Mumbai held that disallowance made u/s. 14A of the Income Tax Act read with rule 8D deleted as tax free funds were more than investment made on which exempt income was earned.
ITAT Delhi held that TDS is required to be deducted under section 192 of the Income Tax Act on the reimbursement of LTC (Leave Travel Concession) /LFC (Leave Fare Concession) and HTC (Home Travel Concession).
ITAT Mumbai held that addition u/s. 68 of the Income Tax Act by treating transaction of sale of shares of Sunrise Asian as a bogus penny stock unsustainable as material on records supports genuineness of the transactions.
CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards.
Learn common mistakes in Income Tax Return (ITR) filing: Incorrect forms, missing income, late filing. Avoid penalties and ensure accurate tax compliance.
