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Income Tax : Explore cryptocurrency taxation in India, including tax rates, GST ambiguities, compliance issues, and the need for a clear regula...
Income Tax : The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This pro...
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 : 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 : Section 263 could not be used merely to impose a different view on the estimation rate. Since the declared income exceeded the pre...
Income Tax : Telangana High Court sets aside ITAT's remand to CIT(A) in a penalty case, emphasizing the Tribunal's duty as a final fact-finding...
Income Tax : Gujarat High Court held that reopening of assessment is based on change of opinion since exact entry which was already scrutinised...
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 : 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...
Understand the impact of Section 43B(h) on payments to Micro and Small Enterprises under the MSMED Act. Learn eligibility, time limits, and the upcoming amendment effective from April 1, 2024.
Discover how to claim a tax deduction for contributing to the Ram Mandir under Section 80G. Learn eligibility, deduction limits, deadlines, and key considerations for a seamless process.
Introduction: Equalisation Levy, introduced by the Indian government, aims to tax specific digital services provided by non-resident e-commerce operators. It ensures taxation in India for income derived from digital services. Applicability of Equalisation Levy: Equalisation Levy is governed by Section 165 and Section 165A of the Finance Act, 2016, not the Income Tax Act, 1961. […]
Explore ITAT Chennai’s ruling in Smt. Chandrasekaran Valarmathi vs. ITO case. Section 56(2)(vii)(b)(ii) of the Income Tax Act won’t apply when property is purchased for business use of a partnership firm.
Karnataka High Court held that incorrect claim or erroneous claim would not amount to willful evasion. Further, mere fact of not accurate tax, not exact tax or erroneous tax would not lead to the proceedings under Section 276 of the Income Tax Act.
ITAT Mumbai held that surplus on redemption of treasury bills is taxable under the head Capital Gains and not under the head ‘Profits and Gains of Business’.
Delhi High Court in IAS Anil Tuteja alleged to be engaged in movement of unaccounted cash through different channels with regard to various sectors in the state of Chhattisgarh held that conspiracy is an issue of fact which can be proved or disproved only during trial.
Read the full text of ITAT Mumbai’s order in Rohinton Homi Sanga Vs DCIT case. No income tax addition for an employee acting on behalf of company directors. Analysis and conclusion provided.
ITAT Chennai rules in favor of Mahasakthi Mills Pvt. Ltd., stating no cash credit addition when the assessee proves the genuineness of business transactions. Full order analysis.
Under section 15 of the MSMED Act, payments to micro or small enterprises must be made within specified timelines. Explore examples and key points for accurate expense deduction.
