The Ruling by Jaipur ITAT provides much-needed clarity on the non-applicability of the relatively new provisions of the Equalisation Levy.
Presumptive Tax was first introduced in 1994 to estimate taxable income from the supply of labour for civil construction work or from construction businesses.
Key points that an individual/HUF needs to consider while claiming medical expenses in the income tax return.
Read the analysis and implications of the legal contentions discussed in the notable judgment of Leena Power Tech Engineers Pvt Ltd.
The Bill proposes to amend the Act and abolish the retrospective tax on indirect transfer of Indian assets, if the transaction was undertaken before 28 May 2012.
The legality of section 194N of the Income Tax Act was challenged in the case of Amalgamated Plantations Pvt. Ltd. & Anr.
This summarizes the key Notifications and Circulars issued by the CBDT, extending the due dates of various direct tax compliances under the Act:
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act
Read the analysis of Section 194Q in Finance Act, 2021 introduced by the Central Board of Direct Taxes (CBDT)
