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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...
Read about India’s collaboration with Saint Lucia through the Tax Inspectors Without Borders (TIWB) program, strengthening tax administration and sharing best practices under the CRS framework
Explore the intricacies of Income Tax Section 41, covering allowances, deductions, and financial transactions. Real-world examples illustrate the nuances of Section 41(1) to Section 41(5), offering clarity for businesses and professionals.
No TDS under Section 192B on payments made to consultant doctors and retainer doctors as the provisions of section 194J applied to the retainer-doctors and not those of section 192B after noting differences between the two types of agreements i.e. salaried doctors and doctors appointed on retainership basis and the certain clauses in contract with retainers which gave the erroneous impression to AO of creating an employer-employee relationship had been explained by assessee that they did not create such a relationship.
While granting relief to NTPC, the proceeding under Section 263 could not be initiated on account of income received from the fly ash and cenosphere as in view of the notification of the Government the fly ash fund transferred to NTPC Ltd.
Discover the taxation nuances of non-convertible debentures (NCDs) – from interest income and TDS implications to capital gains and redemption proceeds. Understand the tax treatment for both listed and unlisted securities, helping you make informed investment decisions
Delhi High Court held that Godaddy.com (appellant) had granted rights in or transferred the right to use its domain to a third party. Therefore, the fee received by Godaddy.com for registration of domain name of third parties cannot be treated as royalty.
When the Instrument was not chargeable with stamp duty as it was not required to be stamped, section 35 had no application and no bar could be imposed due to it being not duly stamped.
Salary received by a Non-Resident of India (NRI) in India by exercising employment in Singapore should not be taxed in India as assessee would be entitled for the benefit of Article 15 of relevant DTAA which provided that the salary would be taxable in the country wherein the employment was exercised and the same would be subject to verification by AO that this income had already been offered to tax in Singapore and assessee had paid due taxes. AO would also verify that no credit of Taxes paid in India had been taken by assessee in Singapore.
Since assessee had deliberately not avoided TDS and there was no contumacious conduct on the part of the assessee, therefore, penalty was not leviable for not deducting TDS on foreign remittances.
Bombay High Court held that one cannot tax the amount having not accrued and not been received by the assessee on an assumption and presumption that in the future, the Small Causes Court will at least order the said sum in favour of the Appellant.
