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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...
Calcutta High Court has recently ruled that the issuance of notice and initiation of reassessment beyond six years is barred by limitation
ITAT Pune rules that fee for default in TDS statement under Section 234E of the Income Tax Act applies only after June 1, 2015.
Discover the step-by-step procedure to link your PAN and Aadhaar before the extended deadline of June 30, 2023. Learn how to check the linking status, make the applicable payment, and rectify common errors. Ensure compliance with the updated deadline and avoid any disruptions to your financial transactions.
Learn about the income tax system in India, including tax slabs and rates for individuals and companies. Discover how to file income tax returns, important due dates, and the consequences of non-compliance
Discover smart tax-saving strategies for a salary of 12 lakh per annum. Learn about Section 80C deductions, HRA benefits, NPS contributions, and more. Optimize your tax liability, maximize take-home income, and achieve financial goals with effective tax planning. Stay updated on tax laws, explore deductions for medical expenses and education, and keep records for a seamless tax filing process.
Unlock the intricacies of trusts with insights into types, creation, tax benefits to donors, and taxation. Understand the roles of authors, trustees, and beneficiaries. Explore the creation process, trust property, and its types—public trusts (charitable and religious) and private trusts (revocable, irrevocable discretionary, and irrevocable non-discretionary).
HC set aside SCN issued under Section 148A(b) & consequential orders on the grounds that the opportunity of being heard provided at first instance should be an effective opportunity, since, the power of reopening an assessment is a ‘power’ which should be exercised with adequate reason.
ITAT Hyderabad held that in absence of any substantial proceeding or collateral proceedings pending before AO, AO was right in not entertaining the application for rectification filed by the assessee.
ITAT Pune held that it is settled legal position that interest on (Non-Performing Assets) NPAs cannot be taxed on accrual basis.
ITAT Delhi held that conditions for the eligibility of claim u/s 80IC in the case of a new industrial undertaking stands satisfied as new firm acquired new plant & machinery which was not previously used.
