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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...
Bombay High Court rules that interest paid on loans taken to invest in shares of a subsidiary in normal business activities is allowable expenditure under the Income Tax Act.
Kerala High Court rules that there’s no bar for Assessing Authority to issue more than one notice under the Income Tax Act. Detailed judgment analysis here.
Patna High Court validates Settlement Commission’s decision despite Income Tax Department’s representation. Analysis provided on Rule 9 report and procedure adherence.
Suryshree Blocks Pvt. Ltd. vs DCIT: ITAT Ahmedabad overturns penalty under Sec 271(1)(c) of Income Tax Act due to failure to find any particulars inaccurate. Analysis provided.
Dive into the case of Variya Prajapati Chovashi Gyati Samsth Vs ITO, where the absence of trustee signatures on the balance sheet is questioned, impacting the genuineness of funds.
Kerala High Court dismisses writ petition challenging assessment order under Section 147 of the IT Act, directing appellant to pursue statutory remedy. Full judgment analysis.
Delhi High Court ruling: NGO retains tax exemptions under Sections 11 & 12 despite donor TDS deduction. Analysis & implications of Aroh Foundation case.
ITAT held that non-initiation of penalty proceedings under section 270A by the AO, in light of the addition made under the head ‘income from house property’, rendered the assessment order erroneous and prejudicial to the Revenue’s interest.
Learn about the financial implications of late payments to MSME vendors under the MSMED Act and Finance Bill, 2023, and how it affects tax deductions.
Explore the amendment to Section 43B(h) of the Income Tax Act, 1961, which now includes deductions for contributions to state welfare funds for employees.
