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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 Delhi held that the revenue authorities are not entitled to appropriate the taxes which have been paid in excess of the due taxes to be paid by the assessee. Accordingly, reducing refund by withdrawing benefit of TDS on advance rent received is unjustified.
Andhra Pradesh High Court held that as the petitioner is a Chartered Accountant by profession and it is his first offence and he has been in jail since long. Accordingly, continuance incarceration of the petitioner is not justified. Hence, bail granted.
ITAT Mumbai resorted back the matter to AO with direction to find out from the relevant PF authorities about the term every month as mentioned in Clause 38 of the Employees Provident Fund Scheme (EPF Scheme).
ITAT held that in the absence of an ascertainable amount and identifiable payee, the machinery provisions of recovering tax deducted at source falls flat
Explore the key highlights of Budget 2023 applicable from AY 2024-2025, including the introduction of the definition of Joint Commissioner and provisions related to Electronic Gold Receipts and its conversion.
ITAT Delhi held that hollow and cosmetic approval accorded under section 153D of the Income Tax Act without application of mind is unenforceable in law and hence liable to be quashed.
Explore the proposed changes to Rule 11UA for Angel Taxation introduced by the Finance Act, 2023, focusing on valuation methods for non-resident investors and entities exempted from Angel Taxation.
ITAT Delhi held that reopening of assessment proceedings merely on the basis of information received from the investigation wing is invalid and bad in law and hence liable to be quashed.
ITAT Jaipur held that addition by way of adjustment and intimation u/s 143(1) of the Act on debatable and controversial issue is beyond the scope of Section 143(1) of the Income Tax Act.
ITAT Delhi held that assessee would be entitled for deduction on account of bad debts written off as part of the sales amount is not received.
