Income Tax Department Detects Undisclosed Foreign Assets: What Indian Taxpayers Need to Know

18 Feb, 2025

Income Tax Department Detects Undisclosed ...

The Income Tax Department has recently uncovered significant foreign assets owned by Indian taxpayers. As taxpayers, we...

ITAT Pune Allows Section 80C Deduction but Assesses Profit as a Percentage of Turnover in Plotting Business

17 Feb, 2025

ITAT Pune Allows Section 80C Deduction but...

This appeal pertains to an order passed by the Ld. CIT(A)/NFAC, Delhi, on 27th May 2024, related to assessment year 201...

Export of Services: Condition for Indian Subsidiaries Providing Services to Foreign Parent Companies

14 Feb, 2025

Export of Services: Condition for Indian S...

Introduction On September 20, 2021, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 1...

Delhi High Court Quashes GST Registration Cancellation Due to Procedural Lapses

14 Feb, 2025

Delhi High Court Quashes GST Registration ...

The Delhi High Court recently quashed the cancellation of GST registration for Rashid, Proprietor of MS Enterprises, hi...

The Income Tax Bill 2025: A Comprehensive Overview

14 Feb, 2025

The Income Tax Bill 2025: A Comprehensive ...

The much-anticipated Income Tax Bill 2025 has been introduced, ushering in a new era of tax reforms. Scheduled to take ...

Advisory for GST Registration Process: Updates as per Rule 8 of CGST Rules, 2017

13 Feb, 2025

Advisory for GST Registration Process: Upd...

Introduction The GST registration process has been updated to enhance security and streamline authentication for...

India’s New Income Tax Bill 2025: Key Changes You Need to Know

13 Feb, 2025

India’s New Income Tax Bill 2025: Key Chan...

The Indian government has finally unveiled the much-awaited Income Tax Bill 2025. Spanning 622 pages, this comprehensiv...

Do You Know Why the New Income Tax Bill 2025 is Introduced? Here’s the Reason

12 Feb, 2025

Do You Know Why the New Income Tax Bill 20...

The much-anticipated Income Tax Bill 2025 has finally been introduced, aiming to repeal the Income-tax Act, 1961, and r...

Understanding TDS Compliance: Filing, Implications, and Actions to be Taken

8 Feb, 2025

Understanding TDS Compliance: Filing, Impl...

Tax Deducted at Source (TDS) compliance is an essential responsibility for deductors under the Income Tax Act, 1961. If...

Clarification on E-Way Bill Requirement for Goods under Chapter 71

7 Feb, 2025

Clarification on E-Way Bill Requirement fo...

The Goods and Services Tax (GST) framework in India mandates the generation of an E-Way Bill (EWB) for the movement of ...

Donation of Political Parties May Now Subject to Scrutiny: Genuine or Bogus?

29 Jan, 2025

Donation of Political Parties May Now Subj...

Donations made to political parties qualify for deductions under the Income Tax Act, 1961, under Section 80GGC. This pr...

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Tamil Nadu and Himachal Pradesh

28 Jan, 2025

Advisory for Biometric-Based Aadhaar Authe...

We wish to inform you of recent developments regarding the GST registration process that may impact your application. T...

Assessee Justifies Family-Sourced Funds with Clear Evidence Before Tax Authorities

27 Jan, 2025

Assessee Justifies Family-Sourced Funds wi...

Background of the Case The Income Tax Appellate Tribunal (ITAT), Ahmedabad, “C” Bench, delivered its judgmen...

ITAT Rules Rs. 50 Lakh Investment in REC Bonds Within Six-Month Period for Eligibility U/s 54EC for Depreciable Assets

27 Jan, 2025

ITAT Rules Rs. 50 Lakh Investment in REC B...

An appeal has been filed by the Assessee challenging an order passed by the Learned Commissioner of Income Tax (Appeals...

Deduction Under Section 54 Denied If Conditions Are Not Fulfilled

24 Jan, 2025

Deduction Under Section 54 Denied If Condi...

The recent case, Mohan Lal Jain vs. ACIT (ITA No. 746/Del/2023), concerning the Assessment Year (A.Y.) 2017-18, dea...

Talk to us
Chat with us