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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...
ITO Vs Marda Associates (ITAT Kolkata) CIT (A) held that A.0. misunderstood that the benefit/ incentive/additional margin passed on by the appellant through credit notes was in the nature of commission. He further, misunderstood that discount/ additional margin could be given only on the invoice and not post invoice. It is submitted that the commission […]
Impugned order was passed by CIT(A) in absence of assessee. Assessee did not get an opportunity to represent his case before CIT(A)
Riya Sunil Jain Vs ITO (ITAT Mumbai) A.O has come to the conclusion that cash deposited in the bank account of the assessee has no connection with tuition income received by her. Therefore, the AO treated the cash deposited during the demonetization period appearing in the bank account as unexplained money u/s 69A of the […]
Petitioner is neither an employee of HEC, Ltd., nor he is responsible for collection of TDS, on behalf of HEC, from any contractors, employees or others
Delve into Section 194H of the Income Tax Act, exploring its intricacies on tax deduction for commission or brokerage payments. Learn about applicable rates, exemptions, and insights from relevant case laws. Stay informed to ensure accurate compliance.
Income-Tax Implications for the Sellers, if any Immovable Property is Sold for a consideration less than Stamp Duty Value
Explore the proposed new definition of wage in India and its potential impact on income tax regulations. Learn how this change could affect both employers and employees, altering the way wages are taxed. Understand the implications for income tax laws and the adjustments needed for payroll processes. Stay informed about the opportunities and challenges presented by this new definition in the Indian tax landscape.
Inderjit Singh Mann Vs ACIT (ITAT Chandigarh) The assessee has filed copy of the sale deed dated 19.2.2009 in the paper book in which it is specifically mentioned that assessee received various advances from the purchasers on different dates in the year 2007 before execution of sale deed. According to the chart prepared by the […]
Once the documents clearly establish the name of the consignor, who is a registered dealer in the State, the proceedings should have been initiated against the owner of the firm instead of the driver, so as to enable him to respond to the notice.
Mehala Machines India limited Vs ITO (TDS) (Madras High Court) TDS Delay- Offence u/s 276/278- Separate notice u/s 2(35) is not necessary before issuance of SCN to consider Directors as principal officers The Company assessee had deducted TDS but failed to pay within the prescribed time. As the Petitioners (Company & directors) had delayed the […]
