Overview of the Faceless Scheme for Income Tax: electronic assessments, appeals, penalties, and rectifications with no physical interface.
ITAT Kolkata held that gifts received from a brother-in-law are exempt under Section 56(2)(vii), as the relationship qualifies as relative for tax purposes.
The Supreme Court held that land acquisition and sale agreements do not constitute taxable “real estate services,” dismissing the Revenue’s appeal for service tax demand.
Learn how Indian residents can claim relief from double taxation through DTAA and Section 91. Understand Foreign Tax Credit rules, required forms, filing procedures, and eligibility for claiming tax credit on foreign income.
CESTAT Mumbai held that MIMO-based Wi-Fi extenders qualify for exemption under customs notification, clarifying that exclusion applies only to products combining MIMO and LTE technologies.
TCS under Section 206C(1G) applies to foreign remittance under LRS by resident individuals. Thresholds and rates differ for education, medical, and others.
Madras High Court remitted a case for fresh adjudication after finding that fake invoices were generated in the petitioner’s GSTR-1 by an auditor to aid wrongful ITC claims.
Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdrawal of exemptions.
Understand tax implications of Joint Development Agreements (JDA) under Section 45(5A). Learn how capital gains, consideration value, period of holding, and TDS under Section 194-IC are calculated for individuals and HUFs.
Learn how to calculate tax relief under Sections 89 and 89A of the Income Tax Act for arrears, gratuity, pension, and foreign retirement income. Understand eligibility, computation steps, and filing forms 10E & 10EE.
