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Income Tax : Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were inval...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...
Income Tax : Learn how to save tax under the new tax regime with standard deduction, employer NPS contributions, and tax-free retirement benefi...
Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...
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 Ahmedabad deletes addition of ₹6.16 lakh under Section 69A for unexplained jewellery, considering joint ownership of locker...
Income Tax : ITAT Mumbai ruled on Dev Engineers Vs DCIT, deleting penalties under Sections 271(1)(c) and 271AAB. Additions were based on estima...
Income Tax : ITAT Delhi rules that interest on enhanced land acquisition compensation under Section 28 is part of compensation, not taxable inc...
Income Tax : ITAT Chennai rules that RRB Energy Ltd. cannot be used as a comparable due to negative margins and functional differences in a tra...
Income Tax : Supreme Court dismissed the Revenue’s appeal in ACIT vs Mamta Agarwal due to unexplained delay and lack of merit. Delhi HC rulin...
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...
Read the full text of ITAT Delhi’s order in Orient Clothing Co. vs. ACIT. Penalty under section 271(1)(c) deleted due to vague notices. Analysis and implications discussed.
Explore reasons behind income tax notices, potential consequences, and steps to address non-filing. Learn how to respond to Income Tax Departments messages for a transparent financial future.
Insights into New Tax Regime (NTR) and Old Tax Regime (OTR). Comparative analysis, choosing the right regime, recent developments, and strategic decisions for informed financial well-being
Comprehensive guide to Section 80GG of the Income Tax Act. Learn about eligibility criteria, quantum of deduction, and an illustrative example. Maximize tax relief for renters without House Rent Allowance (HRA)
Explore the amendment in Section 43B(h) of the Income Tax Act, 1961, excluding Wholesale and Retail Traders. Learn how it affects delayed payments and MSME benefits.
ITAT Mumbai held that benefit of indexation of cost of acquisition is to be given to the assessee while computing long term capital gain for the purpose of section 115JB of the Income Tax Act.
Read the full text of ITAT Delhi’s order dismissing SSC Hospitality Pvt Ltd’s appeal due to non-compliance with statutory notices and failure to produce evidence under Section 143(3) of the Income Tax Act.
Bombay High Court held that denial of benefit under Vivad Se Vishwas Act, 2020 on erroneous allegation of non-filing of Form 4 unjustified as the same is already filed much before the extended date.
ITAT Delhi cancels penalty imposed under section 271E of the Income Tax Act on Pawan Kumar for loan repayment via bank transfer, challenging jurisdiction and citing legal grounds. Full text of the order included.
Explore the implications of Finance Act 2023 withdrawing tax exemptions for news agencies under Section 10(22B) from April 1, 2024. Analyze the impact on Press Trust of India and the broader industry
