Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Finance : The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. Th...
Income Tax : The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ru...
Income Tax : The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufactur...
Income Tax : The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The cha...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : ITAT Delhi held that the assessee was covered under the search proceedings even though its name did not specifically appear in the...
Income Tax : Bangalore ITAT ruled that only solar days and not cumulative man-days should be considered while determining the existence of a Pe...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Rajasthan High Court held that the benefit of Section 115BAA could not be denied when Form 10-IC was filed within the period p...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
Get a complete analysis of Section 80TTA of the Income Tax Act 1961 & learn when trusts and companies are ineligible for the deduction of up to Rs 10,000. Understand how these deductions apply to individuals & HUFs.
Income Tax Act, 1961 defines charitable purpose as activities including providing relief to the poor promoting education and yoga, providing medical reliefs, preservation of environment and historical monuments and advancement of any other object of general public utility (GPU)
Register for tax compliance in Feb 2023: GST, TDS, IFF, GSTR & more. Key phrase Compliance Calendar / Due Date Calendar for the Month of Feb 2023
Article explains Overview of Section 80EEA, Eligibility conditions to be eligible for deduction under 80EEA, Calculation of Deduction under Section 80EEA with Examples and Taxability of the deduction under Section 80EEA.
Section 80IAC of the Income Tax Act, 1961 is an important provision for startups and small businesses looking to avail tax benefits. As per the section, a person is eligible for a deduction for profits for any one assessment year out of 10 assessment years.
Dive into the nuances of Section 138 of the Income Tax Act, 1961, governing the disclosure of information about assesses by income tax authorities. Explore its main sections, sub-sections, and clauses, along with the relevant rules and forms involved. Stay informed about the procedures, authorities’ roles, and application processes under this section.
Section 35AC of the Income Tax Act, 1961, provides a deduction in respect of income derived, or any sum of money paid or deposited, out of the gross total income of an assessee who has entered into any eligible project or scheme approved by the Central Government under this Section.
Unlock tax savings with Section 80C! Dive into the details of eligible investments under the Income Tax Act 1961. Explore deductions up to Rs. 1,50,000 on life insurance premiums, annuity contracts, provident fund contributions, and more. Make informed decisions for tax-efficient financial planning.
Unlock the potential of Section 80CCC under the Income Tax Act for retirement benefits. Explore deductions up to Rs 1.5 lakhs, annuity plans, tax implications, and strategic financial planning. Plan your future with tax-savvy retirement solutions.
Depreciation may be claimed under the Income Tax Act for purchases made by an assessee during the financial year in furniture, equipment, and machinery. For a corporate entity, depreciation on computers and computer resources may be a substantial source of corporate tax savings.
