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ORISSA SALES TAX ACT 1947
SC to examine whether states can impose additional sales tax levyA Supreme Court bench will hear a key question on September 22. This concerns states' power to impose an additional sales tax levy. The Odi...- Lok Sabha passes bill to amend mines and minerals law without debateThe Lok Sabha passed a bill to amend mining regulations. This legislation prevents states from imposing additional taxes on mineral rights....
- Delhi HC pauses judges’ ITR processing amid tax exemption rowThe Delhi High Court has halted the processing of judges' income tax returns. This action stems from a dispute over certain allowance exemp...
- Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wid...
- NRI selling property in India: Should sale proceeds go to an NRE or NRO account? Know repatriation limits and RBI rulesAre you an NRI looking to sell your property in India after relocating abroad? It's essential to understand the process of repatriating you...
- Himachal imposes 60 paise/litre widow, orphan cess on petrol, dieselThe Himachal Pradesh government has imposed a new cess on fuel. This levy of sixty paise per litre applies to petrol and diesel. The Widow ...
- Tax liability of ITR-7 filers triples in 5 years to Rs 1,043 croreIn a significant financial shift, the tax burden for ITR-7 filers has climbed to Rs 1,043 crore in the Assessment Year 2025-26, a figure th...
- Paid Rs 6.5 crore and bought a property with stamp duty value of Rs 8.85 crore, got income tax notice for unexplained investment; He fought back won relief in ITATBuyer purchased Rs 8.85 crore worth property by paying Rs 6.5 crore; Tax dept sent notice for unexplained property investment u/s 69B; Know...
- Mines Act update proposes to curb states' tax powersThe Centre has proposed limiting states’ powers to impose taxes, cess and other levies on mineral rights and mineral-bearing land, seeking ...
- Sold land for Rs 7.24 crore, paid no tax, received income tax notice; Know how Google Earth photos and revenue records helped taxpayer to win this case in ITAT AhmedabadFamily member sold his 1/3rd share of agricultural land for Rs 7.24 crore, pays no tax, tax dept sent notice, he wins case in ITAT Ahmedaba...
- Sold property for Rs 94 lakh despite a stamp value of Rs 1.93 crore, received an income tax notice under Section 50C; ITAT Chennai grants relief for this reasonChennai man sold property for Rs 94 lakh despite Rs 1.93 crore stamp duty value; so tax dept sent notice u/s Section 50C to tax the differe...
- Meiteis must play role of 'big brother' to foster peace, development in Manipur: CM Khemchand SinghManipur Chief Minister Y Khemchand Singh called for Meiteis to be a big brother. He emphasized community unity for protecting Manipur's lan...
- 79 years ago, a man who had never visited India & knew little about its complex landscape drew a line that divided India and PakistanRadcliffe Line 1947: In 1947, British lawyer Sir Cyril Radcliffe chaired the boundary commissions that demarcated the Radcliffe Line, divid...
- Rajya Sabha to take up Taxation, Bankers’ Books bills on MondayThe Rajya Sabha will consider two important bills on Monday. The Taxation and Other Laws (Amendment) Bill proposes significant tax changes....
- 19x leverage on FCNR(B) deposits and high returns may not work for NRIs based in Singapore in this caseFCNR (B) FD: For NRIs, the potential gains from FCNR(B) deposits may be undermined by Singapore's tax policies. Interest earnings from Indi...
- Quote of the day by Marlon Brando: 'The caste system may be more highly developed in countries like India or England, but every...' - deep quote by Oscar-winning actor of On the Waterfront and The Godfather teaches life lessons on hidden reality of social hierarchies and why social divisions existQuote of the day by Marlon Brando: Marlon Brando believed societies divide people based on status and background. His quote highlights how ...
- Lok Sabha passes Taxation and Other Laws (Amendment) Bill to boost foreign investment, electronics manufacturingThe Lok Sabha passed a bill to attract foreign investment and promote domestic manufacturing. This legislation aims to provide greater tax ...
- India’s new 15-year tax break could unlock global rough diamond tradeIndia is closer to becoming a global rough diamond hub. A new tax exemption will attract foreign companies to trade rough diamonds. This me...
- Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT MumbaiWife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai ...
- Govt tables tax amendment Bill with FII relief, electronics manufacturing pushThe Taxation and Other Laws (Amendment) Bill, 2026, was tabled, proposing significant changes to tax laws. Banks and payment providers will...
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