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...
Vide Notification No. 1115/2021-Income Tax | Dated: 20th September, 2021 CBDT notifies Tax Exemption to ‘Gujarat Electricity Regulatory Commission’. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 115/2021-Income Tax | Dated: 20th September, 2021 S.O. 3882(E).—In exercise of the powers conferred by clause (46) of section 10 of […]
CBDT notifies pension fund, namely, ‘276522 Ontario Limited’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 in respect of the eligible investment made by it in India on or after 16th September, 2021 but on or before the 31st day of March, […]
CBDT notifies Income tax Rule 12F. Prescribed income- tax authority under second proviso to clause (i) of sub-section (1) of section 142 vide Notification No. 109/2021-Income Tax | Dated: 13th September, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 109/2021-Income Tax | Dated: 13th September, 2021 G.S.R. […]
In the recent union budget our Honorable Union Finance Minister increased the threshold limit for mandatory audit Under Section 44AB of the Income Tax Act, 1961 to Rs 10 Crores in cases where 95% or more transactions are done in digital mode.
In order to provide big relief, to the senior citizens aged 75 or above from IT filing, Ministry has introduced Section 194P in the Income-Tax Act, 1961 via the Finance Act 2021. New Section 194P is applicable from 1st day of April 2021. They can give a simple declaration to his/her bank to get exemption […]
Government of India is implementing digitization at a rapid pace in the field of Direct Taxes. In the process a new Income Tax Portal was launched on 6th of June, 2021 with an intention to improve the functioning of income tax portal and to facilitate and ease the filing of Income Tax Returns and various […]
In this article, we shall discuss the important points to consider while filing the Income Tax Return for Non resident Indians (‘NRI’). Following points shall be discussed in the article: I. CRITERIA FOR FILING INCOME TAX RETURN II. INCOME CHARGEABLE TO TAX IN INDIA FOR NRI III. TREATMENT OF EXEMPT INCOME FOR SLAB CALCULATION IV. […]
In continuation of the previous article where the eligibility of Startup was discussed, in this article we shall discuss the Taxation & other benefits available to start-ups. Under the taxation benefits, following benefits shall be available to start-ups: I. Deduction Under Section 80-IAC of The Income Tax Act, 1961 (‘Act) II. Angel tax Incentive III. […]
Due to COVID-19, the world is tremulous, which was not witnessed by the present generation. More than 4 million people have lasted their breath globally in the last 18 months on account of this disease. India accounts for about 10% of this death count.
The basic edifice of presumptive scheme u/s 44AD is assessee would not be called to maintain books under the Act and get them audited if profit shown by assessee is otherwise in accordance with prescription of section 44AD of the Act. But maintaining books of account is sine qua non for making addition under section 68. Since […]
