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 : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : This guide explains all ten Income Computation and Disclosure Standards (ICDS) and provides reconciliation formats between Account...
CA, CS, CMA : Explore the major notifications, circulars, and judicial developments issued during 22–28 June 2026, covering Income Tax, GST, R...
CA, CS, CMA : This weekly roundup covers key notifications, circulars, and judicial rulings issued by GST, Customs, RBI, SEBI, MCA, IBBI, and ot...
Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
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- Sunday...
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...
The provision of disclosure of Assets and Liabilities applies to an assesse when the taxable income exceeds Rs 50 lakhs in the given previous year ITR 1 and ITR 4 will not be applicable to those whose income exceeds Rs 50 Lakhs hence the assesse will fall under ITR 2 or 3 When a person […]
Budget is a document of expectations and hope for an Economy. It shows the intent and direction that the policy makers has decided for the economy of the nation. The people of the nation with every budget has lots of expectation especially relating to slab rates. From Highest income tax rate of 97.75% for individuals […]
Article contains FAQs on Tax Audit Report (Form 3CA-CB/ Form 3CB-CD), Form 10 B, Form 29B, Form 10DA, Form 56F, Form 10E, Form 10-IE, Form 67, Form 10BA, Form 35, Form 10-IC, Form 10-IB & Form 10-ID. Tax Audit Report (Form 3CA-CB/ Form 3CB-CD) FAQ 1: While submitting Form 3CB-3CD, “Unique Document Identification Number (UDIN)” […]
Krishna, Honourable Finance Minister Mrs. Nirmala Sitharaman will be declaring the Finance Budget of 2022-23 on 01st February in the Lok Sabha. Everyone is excited for the Budget. But Krishna, what is Budget and by whom it is prepared?
Office Order pursuant to CBDT Order No. 304 of 2021 dated 08.11.2021- In pursuance to the above and in exercise of the powers conferred by Explanation to sub-section (1) of section 120 of the Income-tax Act, 1961 as also section 59 of the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988), it is hereby ordered that the officers referred to in column (3) of the table hereunder, in the grade of Commissioners of Income-tax shall exercise the powers and perform the functions of the Income-tax Authority
1. BASIC EXEMPTION LIMIT & REBATE Basic exemption limit for Individual and HUF should straight increase to 6.50 lac. No need of Rebate of 12500. So remove Rebate of 87A for Rs. 12500. Please Read 3rd Point for detailed suggestion for taxation of Individuals/ HUF 2. REMOVAL OF NEW REGIME U/S 115BAC Remove New regime […]
The announcement of the Faceless Appeal Scheme, 2020 was made by the finance minister while presenting the Union Budget 2020 on 01.02.2020, with the objective to eliminate the physical interface between the taxpayers and the income tax authorities.
Income under the head House Property. Basis of Chargeability (Section 22): Any Income under house property is charged if following conditions are satisfied ♦ Property consisting of any buildings or lands appurtenant thereto ♦ Assessee is the owner of the property ♦ Not used for the purposes of any business or profession carried on by […]
Annual Information System is Government New Experience introduction replacing in future Form 26 AS. Form 26 AS is Xray of Tax payers and ASI can be called MRI of Tax Payers. Many Pros and Cons are regularly being reported by the Tax Payers So Government of India in a Press Release declared that the AIS […]
It is not a question whether it is Section 23(2) of the Income Tax Act or Section 7(4) of the Wealth Tax Act, the provisions being similar, the interpretation will be the same. The Division Bench of this Court having held that similar benefit is available to HUF, irrespective of decision of other High Court with regard to partnership firm, it was open to the Division Bench to follow its earlier decision even without referring the matter to a Larger Bench. The question referred to this Court is, therefore, answered in the affirmative i.e., in favour of the assessee, but against the revenue.
