10. This court in the matter of M/s Aarti Sponge & Power Ltd. V. The Assistant Commissioner of Income Tax and Others, decided on 10.04.2018 indicated the procedure to be followed by the Assigning ...

Following this, the review committee was constituted led by Chief Commissioner of Income Tax V K Gupta. According to a PTI report on Sunday, the government is likely to introduce the new income tax ...

[26] The Income Tax Act, 1961, §2(14). [27] The Income Tax Act, 1961, §2(14) (ii); Faiz Murtaza Ali v. CIT, IT Appeal No. 613 of 2012. [28] Commissioner of Income Tax v. B.C. Srinivasa Shetty, (1981) ...

Reportedly, approximately 544,000 appeals are currently pending before the Commissioner of Income Tax (Appeals) alone, with the disputed amount standing at ₹10.6 trillion. To address the backlog ...

Governments around the world rely heavily on income taxes as a primary source of revenue. Income tax in India is progressive, with higher earners paying more. However, some countries levy little ...

However, to be able to make that decision, they first need to compute income tax under both the regimes — new and old — for a year and then choose the one that leads to a lower tax outgo for ...

President Donald Trump on Monday proposed abolishing income tax for American citizens, aiming to increase disposable income for families and individuals. In a bold move to reshape the U.S. tax ...

A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions ...

The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly ...

This comes in the backdrop of Finance Minister Nirmala Sitharaman raising the tax-rebate threshold from ₹7 lakh to ₹12 lakh ...

"Certain types of investment products can get you some tax-free income, like government bonds," said Colvin. "The tax benefits you get from federal or municipal bonds are a nice perk, but they won ...

Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...