India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Income Tax : The Bombay High Court held that reopening for AY 2016–17 becomes invalid when sanction is obtained from an authority not prescri...
CA, CS, CMA : The week witnessed important rulings on benami transactions, GST natural justice violations, and misuse of insolvency proceedings....
Income Tax : A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions und...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
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 government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- SundayÂ...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The court directed the Board of Advance Rulings to expedite the disposal of a pending application under Section 245Q, ensuring tim...
Income Tax : The High Court allowed a religious society to submit delayed audit documents, citing the treasurer’s age and Covid-19 as valid r...
Income Tax : The Kerala High Court has temporarily halted income tax recovery proceedings against Palode Service Co-Operative Bank Ltd a Primar...
Income Tax : The Delhi High Court dismissed the Revenue's appeals in CIT-1 v. Casio India Co. Pvt. Ltd. for AY 2012-13 and 2013-14, affirming t...
Income Tax : The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, ca...
Income Tax : CBDT Notification 150/2025 grants income tax exemption to the Jhansi Development Authority under Section 10(46A), effective from A...
Income Tax : The Central Board of Direct Taxes has granted income tax exemption to the Parambikulam Tiger Conservation Foundation on specific i...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section 119(2)(b) of the Income Tax Act, 1961
What is a Virtual Digital Asset, how will it be taxed and what are the various uncertainties affecting it’s taxation? Amidst the craze and fanfare of cryptocurrencies and NFTs, while the crypto and NFT traders, investors and enthusiasts were consumed in experiencing the daily ups and downs of the market, the Govt of India has […]
In Budget 2022, the government has officially termed digital assets including crypto assets under ‘Virtual Digital Assets’ (VDA’s) comprising of all the cryptos such as Bitcoin, Ethereum etc, and other digital assets such as Non-fungible tokens (NFTs).
New Provision Section 139(8A) for Updating ITR as per Budget 2022 applicable from AY 22-23 Intention behind introducing Sec 139(8A) In order to provide more time to tax payers, it is proposed to introduce a new provision in section 139(8A) of the Act for filing an Updated Return of income by any person, whether he […]
DIRECT TAXATION TDS NEED TO BE DEDUCTED ON PERQUISITE / BENEFIT OFFERED 1. With effect from 1 April 2022 the Company need to deduct TDS under section 194R @ 10% provided quantum of benefit or perquisite of a business or profession exceeds 20,000. Analysis:Â Say as a promotional activity, the Company offer free international travels […]
The UAE Ministry of Finance (MoF) on 31 January 2022, announced the much awaited introduction of the Federal Corporate Tax (CT) on business profits that will be effective for financial years starting on or after 1 June 2023. The UAE Corporate Tax regime has been designed to incorporate best practices globally and minimize the compliance […]
Slump sale is defined in clause (42C) of section 2 of the Act, as the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to individual assets and liabilities in such sales. Vide the Finance Act, 2021, the definition of ‘slump sale’ was amended to expand […]
It is proposed to amend the Explanation to section 133A of the Act to provided that income tax authority shall be sub-ordinate to Principal Director General or Director General or Principal Chief Commissioner or Chief Commissioner, as the case may be, specified by the Board
It is proposed to amend the Explanation to section 133A of the Act to provided that income tax authority shall be sub-ordinate to Principal Director General or Director General or Principal Chief Commissioner or Chief Commissioner, as the case may be, specified by the Board
Considering the genuine hardships faced by certain classes of persons in filing return of income and not to impose a fee for a default which is beyond their control, it is proposed to insert section 234F and include it in the list of sections mentioned in clause (a) of sub-section (2) of section 119 of the Act, so as to enable the Board to issue such orders or instructions, as deemed fit.
