Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...
Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...
Income Tax : Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid...
Income Tax : Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a fa...
Income Tax : Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...
Income Tax : From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have...
Income Tax : While accepting “Application for allotment of PAN (Form 49A)” if both the addresses (residence and office) are mentioned in th...
Income Tax : Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF...
Income Tax : ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, ci...
Income Tax : ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed ...
Income Tax : Liability to capital gains had not arisen in the assessment year 2017-18 as occupancy certificate was received on 01/02/2017 for c...
Income Tax : Read the detailed analysis of ITAT Delhi's order regarding capital gains earned from the sale of CCL International shares. ITAT de...
Income Tax : In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don't warrant addition un...
Fema / RBI, Finance, Income Tax : Provided further that an account opened on behalf of a Hindu Undivided Family prior to the 13th day of May, 2005, shall be closed ...
Income Tax : Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Bo...
Income Tax : The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an im...
Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections for easy reference.
Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for FY 2025-26.
Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid penalties and legal issues.
ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, citing judicial precedents.
Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) under the Income Tax Act.
ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed to grant an opportunity of being heard to the assessee so as to the grounds for condonation.
Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a family unit consisting of individuals who are lineal descendants of a common ancestor. The HUF is treated as a separate taxable entity, offering various tax benefits. A key feature of an HUF is the […]
Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria for recognition by tax authorities.
Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings under the old tax regime.
Liability to capital gains had not arisen in the assessment year 2017-18 as occupancy certificate was received on 01/02/2017 for commercial portion and 17/03/2017 for residential portion but in the assessment year 2018-19 on receipt of possession.
