The guide explains how residents can avoid double taxation through DTAA benefits, Foreign Tax Credit, and Section 91 relief, outlining TRC, Form 67, FTC limits, filing requirements, and key compliance rules.
Delhi ITAT held that share premium received by a subsidiary from its holding company could not be taxed under Section 56(2)(viib). The ruling emphasizes that the anti-abuse provision cannot be extended to genuine intra-group capital infusions.
The article introduces an advanced tax calculator that automatically compares the old and new tax regimes. It helps employees and payroll teams determine the most tax-efficient option while ensuring accurate tax computation.
The guide explains Sections 54 to 54GB, showing how taxpayers can claim capital gains tax exemptions through reinvestment, subject to eligibility, timelines, limits, and compliance conditions.
The guide explains Sections 206AA and 206AB, detailing higher TDS consequences for non-furnishing of PAN and return-filing defaults, applicable exceptions, compliance checks, and the impact of Section 206AB’s omission from 1 April 2025.
The guide explains faceless assessments, appeals, penalties, rectification requests, and demand responses under the Income-tax Act, highlighting how digital processes reduce human interface and enhance transparency.
he Tribunal held that accepted on-money receipts from earlier years could partly explain cash deposits made during the demonetisation period. It granted telescoping relief for 50% of the disputed addition under Section 68.
The Allahabad High Court held that allegations arising from private land transactions and cheating claims did not satisfy the requirements of organized gang activity under the Gangsters Act. The Court quashed the proceedings and stressed that criminal law cannot be invoked without statutory ingredients being established.
This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It highlights application of income, accumulation rules, anti-abuse provisions, and a detailed computation model for exempt and taxable income.
This guide explains how employees can claim relief when salary, pension, or other benefits are received in arrears or advance. It outlines the conditions, calculation method, and filing requirements under Section 89.
