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Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
Income Tax : Co-browsing helps taxpayers file ITR, change settings, and navigate the tax portal with real-time help from agents. Secure, free, ...
Income Tax : This article provides an in-depth analysis of India's tax brackets, key deductions, and recent amendments to income tax laws, help...
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 rules on undisclosed foreign accounts in the case of Manjulaben Bipinbhai Patel vs DCIT, addressing tax assessments...
Income Tax : ITAT Mumbai held that receipts from maintenance and support services and additional services, without transfer of any technical kn...
Income Tax : The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A...
Income Tax : AO in the final order passed on 19.01.2017 however, made disallowance of weighted deduction u/s 35(2AB) to the extent of 3,38,82,3...
Income Tax : Bombay High Court rules that profit estimation in bogus purchases does not raise a substantial question of law, dismissing the Inc...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
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 Bar Association & All Gujarat Federation of Tax Consultants request a one-year deferment for new Form 10B and Form 10BB compliance due to practical difficulties.
Discover simplified taxation scheme under Section 44AD of Income Tax Act. Learn eligibility criteria, exemptions, and key insights into this taxpayer-friendly approach.
Learn about Income Tax Returns, exemptions based on age and income, and key insights for accurate filing. Avoid common mistakes and understand parameters for scrutiny.
Discover the parallels between Ganesh Chaturthi and income tax audits. Learn how audits remove uncertainties, boost financial transparency, and pave the way for success.
Delhi High Court held that Amazon Web Services India Pvt. Ltd. (AWS India) is liable to withhold 8% (instead of 16%) tax of remittance on account of reseller fee paid to AWS USA.
Know the challenges in Form 10B/10BB filings in 2023 and Income Tax Bar Association in Jalandhar appeal for deferment or extension.
Learn about latest changes in Form 10B and Form 10BB for 2023, their applicability, key differences, consequences of non-compliance, and complexities of tax reporting for charitable and educational institutions.
Telangana HC rules in Kankanala Ravindra Reddy vs ITO: Section 148A(d) orders and Section 148 notices must be issued by NFAC, not AO. Explore the court’s analysis of legal provisions and implications for faceless assessments under the Income-tax Act, 1961.
Explore the case of Raj Kumar Karanwal vs. PCIT (ITAT Delhi) and learn why exercise of revisionary jurisdiction by PCIT may not always be valid when issues have been examined by AO. Dive into the details of the case, the assessment process, and implications for taxpayers.
Tax implications of investing in specified mutual funds and market-linked debentures (MLDs) post-amendment under Section 50AA, with examples.
