CBDT
1. Tax on Gift of a Car to a Non-Relative — Clarified In India, gifts often symbolize goodwill and affection. Yet, the Income-tax Act, 1961 draws a fine line between...
Read MoreA recent decision by the Delhi High Court has brought much-needed relief to a Non-Resident Indian (NRI) who was facing a significant tax demand due to an error in the...
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CBDC
Madras High Court on Pension Account Attachment for Income Tax Dues 🔎 Overview: Pension Funds Declared Immune from Tax Recovery Attachments In a landmark and socially impactful decision, the Madras...
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Income Tax Act 1961
Tax Lessons from Rana Ayyub's Covid-19 Donation Case: What You Need to Know
Read MoreAgreement to Avoid Double Taxation and Prevent Fiscal Evasion with the United Kingdom The agreement between the Government of India and the Government of the United Kingdom aims to prevent...
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Income Tax
The Income Tax (IT) Department has issued an important warning to taxpayers about an increase in scams related to income tax refunds. Fraudsters are using emails, messages, and fake calls...
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Capital Gain
ITAT Allows Taxpayer to Offset STCL Against LTCG, Rejecting Tax Evasion Claims The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the right of taxpayers to offset...
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EPF Accounts
India holds a staggering amount of unclaimed assets across various financial instruments. These include investor protection funds, shares, dividends, bank deposits, provident funds, and mutual funds. This wealth, estimated to...
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Advance Tax
The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024): Simplifying Tax Dispute Resolution The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024) is a transformative government initiative designed to address...
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Annual Information Statement (AIS)
Unaccounted Money as Unsecured Loan: Mumbai ITAT Upholds Tax Addition Under Section 68
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