The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
CA, CS, CMA : Summary of income tax, GST, customs, SEBI, RBI, and IBC updates for the week ending March 2, 2025. Includes regulatory changes, co...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
CA, CS, CMA : A concise summary of notifications and circulars for the week ending 16th Feb 2025, covering Income Tax, GST, SEBI, RBI, and more....
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The Petitioner, through this Writ Petition challenges the actions of the Opposite Parties in depriving the Petitioner of access to...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
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 Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the as...
Income Tax : ITAT Rajkot remanded the matter as lower authority has not exercised their power to enquiry in section 131 and 133(6) of the Act t...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : Explore Notification No. 96/2024 by the Ministry of Finance, detailing income specifics for SAMEER Mumbai under Income Tax Act Cla...
Income Tax : Explore Income Tax Notification No. 94/2024 dated 24th July, 2024, detailing tax exemptions for Punjab Skill Development Mission S...
Explore the amendment in Section 43B(h) of the Income Tax Act, 1961, excluding Wholesale and Retail Traders. Learn how it affects delayed payments and MSME benefits.
Read the full text of ITAT Delhi’s order dismissing SSC Hospitality Pvt Ltd’s appeal due to non-compliance with statutory notices and failure to produce evidence under Section 143(3) of the Income Tax Act.
Sunil Dandriyal vs JCIT case underscores significance of understanding the correct starting point for calculating the time limit for penalty proceedings under Section 271D of the Income Tax Act. The decision reinforces the principle that the initiation of penalty proceedings by the AO, rather than the issuance of a show-cause notice by the JCIT, triggers the commencement of the statutory time limit.
Read the full text of Bombay High Court’s judgment quashing the notice under Section 148 for AY 2016-17 in Vardhaman vs. ITO case. Analysis and implications discussed.
Kerala High Court rules no provision to extend the 30-day limit for filing objections against draft assessment orders under the Income Tax Act. Details and implications.
Explore the ITAT Delhi ruling on Section 68, as it clarifies the applicability to unexplained cash credits and purchase costs in Ishwar R Pujara Vs ACIT case.
Explore the intricacies of IFSC Unit deductions under the Income Tax Act. Learn about eligible incomes, deductions under Sec 80LA, filing Form 15CA, and more.
Explore the legal victory in M.K. Rajendran Pillai Vs ACIT as Madras High Court lifts property attachment following the annulment of assessment orders and tax liabilities.
Delhi High Court halts NFRA proceedings against CA Unnikrishnan Menon, challenging show cause notice for irregularities in Quess Corp audit and TDS claim under Income Tax Act.
Kerala High Court rules failure to grant a hearing against draft assessment order violates natural justice. Read the full judgment and its impact on the assessment process.
