PAN Quoting: Know Where It Is Mandatory Under Rule 114B of the Income Tax Act

26 May, 2025

PAN Quoting: Know Where It Is Mandatory Un...

In India, the Permanent Account Number (PAN) is a ten-digit alphanumeric identifier issued by the Income Tax Department...

Income Tax Rate on Short-Term and Long-Term Capital Gains on Shares and Mutual Funds For FY 2024-25 (AY 2025-26)

21 May, 2025

Income Tax Rate on Short-Term and Long-Ter...

India’s capital gains tax structure underwent notable revisions in the Union Budget 2024-2025, especially concerning ...

Section 194T – New TDS Provision for Partnership Firms and LLPs from April 1, 2025

21 May, 2025

Section 194T – New TDS Provision for Partn...

The Income Tax Department has introduced a major change that impacts partnership firms and LLPs in India starting from ...

Mumbai ITAT Rules in Favor of Assessee on Long-Term Capital Gains from Penny Stock Shares

8 May, 2025

Mumbai ITAT Rules in Favor of Assessee on ...

Background of the CaseThe case involved Jayesh Sojpar Karnia HUF, who had filed an appeal against the order passed ...

Who Can File ITR-1 (Sahaj) in AY 2025-26? Eligibility, Due Date, Documents & Tips

8 May, 2025

Who Can File ITR-1 (Sahaj) in AY 2025-26? ...

The Income Tax Return Form ITR-1, also known as Sahaj, is specifically designed for resident individuals with straightf...

ITAT Quashes Rs. 103 Crore Demand Against Auto-Rickshaw Driver in Accommodation Entry Case

1 May, 2025

ITAT Quashes Rs. 103 Crore Demand Against ...

In an important ruling by the Income Tax Appellate Tribunal (ITAT), Mumbai, the case of Surendra Kumar Rajmani Mishra v...

TCS on Luxury Goods Above Rs.10 Lakh: CBDT Notification 36/2025 Explained

1 May, 2025

TCS on Luxury Goods Above Rs.10 Lakh: CBDT...

The Central Board of Direct Taxes (CBDT) has issued Notification No. 36/2025 dated 22nd April 2025, bringing important ...

How Notification 38/2025 Changes Business Expense Claims Under Section 37 of Income-tax Act

1 May, 2025

How Notification 38/2025 Changes Business ...

The Central Board of Direct Taxes (CBDT) has issued Notification No. 38/2025 dated 23rd April 2025, introducing importa...

ITAT Delhi Provides Full Relief in Demonization-Era Cash Deposit Case

21 Apr, 2025

ITAT Delhi Provides Full Relief in Demoniz...

In a significant judgment offering relief to a taxpayer, the Delhi Bench "SMC" of the Income Tax Appellate Tribunal (IT...

Partial Relief to Agriculturist in Cash Deposit Case: ITAT Delhi Decision Explained

21 Apr, 2025

Partial Relief to Agriculturist in Cash De...

In a recent judgment that could set an interesting tone for similar cases, the Income Tax Appellate Tribunal (ITAT), De...

ITAT in Favor of Assessee in Delayed CIT Appeal Case: Gives Assessee a Second Chance

21 Apr, 2025

ITAT in Favor of Assessee in Delayed CIT A...

In a significant development from the Income Tax Appellate Tribunal (ITAT), Delhi Bench, a set of three appeals filed b...

Reassessment Under Section 147 Invalid Without Sharing Approval U/s 151 Along WithTheReasons to Believe, Rules Delhi ITAT

21 Apr, 2025

Reassessment Under Section 147 Invalid Wit...

IntroductionThe Income Tax Appellate Tribunal (ITAT) Delhi Bench delivered a landmark ruling in Sunil Kumar Jain vs...

Differences Between an LLP and a Normal Partnership Firm

9 Apr, 2025

Differences Between an LLP and a Normal Pa...

When starting a business with multiple individuals, choosing the right business structure is a critical decision. Two c...

GST on Housing Societies

9 Apr, 2025

GST on Housing Societies

The Goods and Services Tax (GST), introduced in India as a unified tax regime, has significant implications for various...

ITAT Delhi’s Ruling on NRI Cash Deposits: What Counts as Exempt Gifts under Section 56(2)(vii)

9 Apr, 2025

ITAT Delhi’s Ruling on NRI Cash Deposits: ...

Background of the CaseSmt. Yamini Kapoor, a Non-Resident Indian (NRI) residing at C-4, 6 Aurangzeb Road, Central De...

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