Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
For the taxpayers, along with Indian residents and NRI’s the option to get a Nil TDS certificate has been removed by the proposed income tax bill 2025. For both Indian taxpayers and non-residents, including non-resident Indians (NRIs), the proposed new Income Tax Bill 2025 seems to remove the concept of a “nil TDS” certificate by […]
In the recent Gujarat state budget, an initiative has been announced that will take effect on Friday, following the completion of administrative processes. “Under the new scheme, a person buying an electric vehicle will be required to pay just 1 per cent as vehicle tax. For instance, a vehicle with a base price of ₹12.49 […]
The ITAT Bench in Surat, Gujarat reduced an individual’s additional tax assessment from ₹72,81,674 to just ₹2,00,000. This decision was made after recognizing the taxpayer’s home loan and the cash they had available. Jayeshbhai Becharbhai Chovatiya, a taxpayer, deposited Rs. 72,81,674 into three different bank accounts when certain high-denomination currency notes were no longer valid. […]
The Delhi High Court provided relief to the German cargo airline Lufthansa by overturning the Revenue’s order that denied the company a nil TDS certificate for the fiscal year 2024-25. Section 195 of the Income Tax Act, of 1961, deals with the deduction of TDS (Tax Deducted at Source) on payments incurred to non-resident Indians […]
The Central Board of Direct Taxes (CBDT) has reported the Income-tax (Eighth Amendment) Rules, 2025, through Notification No. 23/2025. These rules introduce changes to Form 3CD, the tax audit report mandated under section 44AB of the Income-tax Act, 1961. The same amendment shall come into effect on 1 April 2025, impacting businesses and tax professionals. Latest Modifications […]
Finance Minister Nirmala Sitharaman said that the government can ‘realistically’ achieve personal income tax collection targets even after proposing a huge tax relief while responding to the debate on the budget in the Lok Sabha. The House passed the Finance Bill 2025, the piece of legislation that furnishes legal backing to the tax proposals and […]
The Commissioner of Income Tax(Appeals) order has been set aside by the Kolkata Bench of Income Tax Appellate Tribunal (ITAT) concerning a Scheduled Tribe doctor’s exemption claim u/s 10(26) of the IT Act,1961, due to misinterpretation of eligibility. Against the order dated 25.08.2023, the Revenue-appellant appealed passed by CIT(A) for the Assessment Year(AY) 2013-14. In […]
Janak Texturisers Pvt. Ltd. (the assessee) has filed an appeal before the Income Tax Appellate Tribunal (ITAT) Mumbai against a reassessment order passed by the Joint Commissioner of Income Tax (CIT) for the assessment year (A.Y.) 2010-11. The issue concerns the validity of the reassessment notice under section 148 of the Income Tax Act and the assessing […]
The income tax department will conduct nationwide regulatory action for those taxpaying entities that did not deduct and deposit taxes collected at the source (TDS/TCS). Under the sources cited in the report, nearly 40,000 taxpayers (individuals and businesses) are being investigated for possible defaults in tax deductions for the fiscal years 2022-23 and 2023-24. The […]
