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Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...
Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...
Income Tax : Rental income from sub-letting is taxed as "Income from other sources," not "Income from house property." Deemed ownership rules a...
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...
Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...
Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...
Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...
Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Discover the eligibility criteria for becoming a GeM seller. Find out how the Government e-Marketplace revolutionized the procurement process.
ITAT Held that at the stage of granting registration u/s. 12AA of the Act, authority cannot examine whether the conditions for availing exemptions under Section 11 of the Act are fulfilled or not.
Shubham Thakral Vs ITO (Delhi High Court) Learned counsel for the Petitioner states that only three days’ time was granted to the Petitioner to respond as against the mandatory statutory period of at least seven days. He further states that though the annexure annexed with the notice granted the Petitioner eight days’ time to respond, […]
Karida Real Estates Private Limited vs ACIT (Delhi High Court) Keeping in view the fact that the impugned order and notice have been issued without considering the reply filed by the Petitioner, this Court sets aside the impugned order passed under Section 148A(d) of the Act and the notice issued under Section 148 of the […]
It has been held that notice issued by AO should specify which limb of Section 271(1)(c) of the Act penalty proceedings has been initiated.
consideration for the resale of the computer software through End User License Agreement (EULA)/distribution agreements, is not the payment of royalty for the use of copyright in the computer software, and that the same does not give rise to any income taxable in India
Held that the correct method is applying peak calculation method to compute the profit from the unaccounted cash sales made by the assessee.
On maturity of life insurance policy, where section 10(10D) does not apply, it is only the net income which is chargeable to tax in the hands of the assessee.
Indian Redcross Society Vs ITO (ITAT Ahmedabad) We note that the Ld. Assessing Officer has not made any additions and nor even discussed the issue on the basis of which the reassessment proceedings were initiated. The assessee had pointed out that the Ld. Assessing Officer had committed a factual inaccuracy by stating that a sum […]
As assessee is following mercantile system of accounting, liability which has arisen during the year under consideration is allowable even though the same may have to be discharged at a future date.
