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Income Tax : Check the latest TDS rates for FY 2025-26 (AY 2026-27) on salary, interest, rent, and more. Understand applicable thresholds and d...
Income Tax : NSC offers 7.7% interest, tax benefits under Section 80C, and capital security. Learn about its taxability, lock-in period, and in...
Income Tax : CBDT Circular No. 03/2025-Income Tax on Salary TDS : New Rates, Exemptions, and Compliance for 2024-25 Summary: The CBDT has intro...
Income Tax : An analysis of trust taxation under the Income Tax Act, including Finance Bill 2025 amendments, tax exemptions, anonymous donation...
Income Tax : There are various taxes surrounding the transaction of investing in mutual funds. It includes various aspects such as tax on the i...
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 : Assessee being a subsidiary of M/s. Rajasthan State Mines and Minerals Ltd. (RSMML) (a Government of Rajasthan Undertaking). It en...
Income Tax : ITAT Agra quashes reassessment in Veerendra Singh Vs ITO due to failure to issue notice under Section 143(2). Key legal findings a...
Income Tax : ITAT Bangalore rules in favor of Neelamma, holding that the reassessment notice under Section 148 of the Income Tax Act was time-b...
Income Tax : ITAT Mumbai rules 14A amendment is prospective. No disallowance if no exempt income earned, upholding Delhi HC's Era Infrastructur...
Income Tax : Bombay High Court quashes penalty on VRML Constructions Pvt Ltd, citing technical glitches in ITBA records. Fresh proceedings may ...
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...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Delhi HC reviews immunity granted by the IT Settlement Commission to Standard Farms and others, focusing on the satisfaction of conditions for immunity under Section 245H.
Gujarat HC sets aside faceless assessment order due to lack of personal hearing via video conference, directing a fresh order in compliance with natural justice.
Learn when NRIs need to file income tax returns in India, what incomes are taxable, and why ITR filing is beneficial for NRIs.
ITAT rules inter-branch transfers excluded from turnover for concessional 25% tax rate under Finance Act, 2017, reducing tax liability for Power and Instrumentation Ltd.
ITAT Chennai held that Form 56F not signed by an accountant, as referred in section 10A(5) of the Income Tax Act, is defective and hence deduction under section 10A of the Income Tax Act not admissible. Accordingly, appeal of revenue allowed.
Punjab and Haryana High Court held that rejection of claim of exemption under section 80G not based upon any substantial evidence is not tenable in law. Accordingly, writ petition is allowed.
BPS Mineral Exports Pvt. Ltd. Vs ITO (ITAT Ahmedabad) In the case of BPS Mineral Exports Pvt. Ltd. vs ITO, the Income Tax Appellate Tribunal (ITAT) Ahmedabad addressed an appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals) (CIT(A)) for the assessment year 2016-17. The dispute centered around the […]
ITAT Surat rules against PCIT’s revision under Section 263, stating the Assessing Officer’s view on Unique Polypack transactions was legally sustainable.
ITAT Chennai sets aside CIT(A)’s order in Amuthasurabi Educational Trust case, citing incorrect delay calculation. Case sent for fresh adjudication.
ITAT Delhi dismisses BRR Securities’ appeals as withdrawn after settlement under the Direct Tax Vivad se Vishwas Scheme, 2024. Case closed on 03/12/2024.
