Income Tax : KSCAA urges CBDT to clarify the disallowance of Section 87A rebate on Short Term Capital Gains, citing taxpayer hardship and incon...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : Explore the complex interplay of tradition and tax law surrounding Streedhan (women's jewellery) in India, CBDT guidelines, and co...
Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Corporate Law : CBDT signed 174 Advance Pricing Agreements in FY 2024-25, including a record number of bilateral agreements, to improve transfer p...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Delhi held that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable. Fur...
Income Tax : ITAT Mumbai held that alternative claim of assessee (lessee) to allow depreciation on Finance Lease Rental Payment is allowable si...
Income Tax : ITAT Chennai held that cash sales of liquor is the source of cash deposit during demonetization and accordingly, since the nature ...
Income Tax : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : Madras High Court directed to expeditiously dispose of the appeal filed before Appellate Authority and also held that stay granted...
Income Tax : CBDT issues Income-tax (Fourteenth Amendment) Rules, 2025, effective April 1, 2025, replacing FORM ITR-5 in Appendix-II....
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Goods and Services Tax : Key updates on Indian Customs, including trade facilitation, GST awareness, sports events, and major enforcement actions on tax ev...
New CBDT guidelines for compounding of offences under the Income Tax Act, 1961. Learn the conditions, process, and fee structure for compounding applications.
CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Income Tax Act.
ITAT Ahmedabad directs CIT (E) to process trust’s fresh Form 10AB application under Section 80G(5) despite a 331-day delay in filing the appeal.
ITAT Ahmedabad dismisses Navgujarat Foundation’s appeal but directs CIT (E) to process the fresh Form 10AB application under Section 80G(5).
Himachal Pradesh HC stays Section 148 notice, citing lack of jurisdiction under Section 151A of the Income Tax Act, 1961, and improper procedural compliance.
CBDT grants tax exemption to Gujarat Water Supply and Sewerage Board, Gandhinagar under Section 10(46) of the Income Tax Act for specified income.
CBDT forms a committee to review the Income-tax Act and invites public suggestions on simplification and compliance via the e-filing portal.
Himachal Pradesh High Court held that in view of the provisions of Section 151A of the Income Tax Act read with the Scheme dated 29th March, 2022 the notices issued by the Jurisdictional Assessing Officers and not in prescribed faceless manner are invalid and bad in law.
Bombay High Court quashes income tax notices issued to a deceased person. Directs issuance of new notices to legal representatives and requests CBDT for procedure changes.
Supreme Court slams Revenue for excess surcharge demands due to software issues, urging immediate upgrades to prevent harassment of taxpayers.
