Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
Income Tax : The New Tax Regime restricts Section 24(b) benefits, disallowing set-off of home loan interest against salary income. Taxpayers mu...
Income Tax : Tax deductions for interest paid on loans play a significant role in personal tax planning, offering relief by reducing taxable in...
Income Tax : Learn how to optimize home loan interest tax benefits for self-occupied and rented properties. Strategies include reducing capital...
Income Tax : While presenting interim Budget 2019-20 FM proposed to exempt the levy of income tax on notional rent on a second self-occupied ho...
Income Tax : Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. S...
Income Tax : ITAT Bangalore deleted the penalty under Section 270A after holding that the assessee's incorrect claim arose from a bona fide mis...
Income Tax : Tribunal could not recall and restore an appeal dismissed ex parte under Rule 24 of the ITAT Rules, 1963, when assessee filed mi...
Income Tax : The Tribunal held that a land sale completed before 01.07.2012 could not be subjected to a DVO reference under the amended Section...
Income Tax : Mumbai ITAT held that income from house property can be assessed only in the hands of an owner or deemed owner under the Income-ta...
Fema / RBI : 2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR stat...
Learn how Gujarat High Court ruled that credit ledger balance can be utilized for pre-deposit when filing GST appeals. Details in the Shiv Crackers case.
Supreme Court rejected the bail application of Shri Satyendar Kumar Jain and others involved in the case of money laundering as appellants have not complied with the twin mandatory conditions laid down in Section 45 of Prevention of Money Laundering Act, 2002.
Delhi High Court held that charges relating to clandestine removal and undervaluation of goods cannot be sustained merely on the basis of assumptions and presumptions. Accordingly, addition rightly deleted.
In a landmark decision, ITAT Mumbai rules in favor of Abu Dhabi Investment Authority, stating that a fraud mobile number cannot deny tax treaty benefits. Full text of the order included.
ITAT Bangalore rules receipts from the sale of online videos by Plural Sight LLC to Indian clients are not taxable as ‘Royalty’ under India-USA DTAA.
Allahabad High Court rules in favor of Flipkart, emphasizing that the burden of proof for income escaped assessment lies with the assessing authority, not the taxpayer.
ITAT Mumbai held that benefit of Article 13(4) of India Mauritius tax Treaty duly available to Mauritius registered assessee, having Tax Residency Certificate, for sale of shares which were acquired prior to 1st April 2017.
ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.
The key dispute centered around the disallowance of deductions under section 48(ii) of the Income Tax Act related to the indexed cost of interest paid for the acquisition of a property sold by the assessee.
Explore the Kali Shankar Enterprises vs Additional Commissioner case. Andhra Pradesh High Court rules GST cancellation cannot be based on filing nil returns for over six months. Full judgment included.
