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Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
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 : 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 Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
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...
ITAT Bangalore held that assessee, being a employees housing co-operative society, is eligible for deduction u/s 80P(2)(d) in respect of interest earned from co-operative banks.
ITAT Ahmedabad held that interest paid on money borrowed for the purpose of business is allowable as business expenditure.
ITAT Jaipur reinforces section 54F’s applicability, highlighting the distinction between actual sale consideration and stamp duty value for capital gains exemption, affirming the principle of real consideration over deemed value for investment in new assets.
ITAT Jodhpur upholds CIT(A)’s decision, negating the AO’s addition of Rs. 1.62 crore under Section 69C for Shri Prahalad Rai Rathi. The judgment clarifies all transactions were through banking, dismissing the alleged unexplained expenditure and unsecured loans as baseless.
Precondition of applicability of S. 14Ahas not been fulfilled in the present case in as much the law never contemplates to apply S. 14A in relation to a taxable income as in the present case
Tripura High Court declared that the assessee has the right to claim Input Tax Credit (ITC) for taxable works contract services utilized in the construction of immovable property. Discover the significance of this ruling and its implications for taxpayers in availing ITC for construction-related services.
ITAT Indore held that addition u/s 69 of the Income Tax Act towards gifts received from family members unsustainable as receiving gift from family members, namely father and mother for personal use, do not require any special occasion.
Explore the recent ITAT Surat ruling on Mukesh Agarwal vs ITO, where no addition was justified without corroborative evidence on a discovered satakat during a third-party survey.
ITAT Bangalore held that the adjustment made by the TPO towards technical know-how fees despite accepting the entity level margins is liable to be deleted.
ITAT Pune held that change in method of accounting cannot partake character of concealment. Accordingly, penalty under section 271(1)(c) of the Income Tax Act not leviable.
