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Income Tax : Stay updated with 2024 US individual tax filing details, including deadlines, tax rates, forms, and standard deductions. Learn abo...
Income Tax : बजट में गैर-पेंशनभोगी वरिष्ठों को कर राहत न मिलने ...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
Income Tax : Learn key updates in the New Income Tax Bill, 2025, effective April 2026. Covers tax year, compliance, deductions, international t...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws by replacing the 1961 Act. It includes 23 chapters, 16 schedules, and 536 secti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Corporate tax collections rose post rate cuts from AY 2020-21, except during COVID. Budget 2025 proposes presumptive tax for elect...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that a...
Income Tax : In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after consid...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Esteem Finventures Limited (Now Kapedome Enterprises Limited) Vs ACIT (ITAT Delhi) ITAT is of considered opinion that the ld. CIT(A) has confirmed the addition by stretching too far the rules of prudence. The Ld. AO himself observed in the order that the services engaged were from top most legal professionals. If that was the view […]
B. Braun Medical (India) Private Limited Vs DCIT (ITAT Mumbai) ITAT deletes Transfer Pricing (TP) Adjustment as TPO adopts Wrong Gross Profit (GP) Margin of Comparable Company The assessee raised an additional ground before the Ld. DRP stating that the gross profit margin of ADS Diagnostics Ltd., had been wrongly worked out by the Ld. […]
PCIT Vs Madhur Mittal (Delhi High Court) The scope of jurisdiction in Section 260A is very well settled. It is a settled proposition that ITAT is the final arbiter of the facts. High Court can interfere in the order of the ITAT only if there is substantial question of law or there is manifest illegality […]
Easily navigate the process of filing the Statement & Certificate of Section 80G Donation using Form 10BD for the FY 2021-22. Learn about due dates, required details, filing steps, and penalties for non-compliance. Stay informed about the new norms for a transparent deduction process under Section 80G.
Discover the details of ITR-U, the updated income tax return under Section 139(8A) of the Income Tax Act. Learn about the filing period, limitations, required details, and additional tax payments. Uncover reasons for updating and the criteria for eligibility. Stay informed for a seamless tax filing experience.
Explore the amendment to section 269SS of the Income Tax Act, 1961, effective from 1.6.2015, regarding penalties under section 271D. Learn about reasonable causes, legal defenses, and key judgments, as this article provides insights for individuals dealing with cash transactions related to the sale of agricultural land post the mentioned amendment. Understand how the law impacts individuals, especially those with a rural background, and discover significant cases supporting the assessee’s position.
Jeen Mata Buildcon Pvt. Ltd. Vs ITO (ITAT Jaipur) The ld. AR of the assessee argued that merely there is a difference in the 26AS and the books results, there cannot be an addition to returned income the books of account of the assessee duly audited. AO has not found any single defect in the […]
Uncover the controversy surrounding reassessment notices under section 148 of the Income Tax Act. Explore the Supreme Court judgment, CBDTs interpretation, and the potential impact on past assessment years. Delve into the misfortune or misinterpretation in this legal landscape.
Interest paid for the delay in depositing the awarded amount allowed by the MACT in the accident case would not form part of the compensation and, therefore, would fall into the bracket of interest income and would be eligible to tax under the normal provisions.
Learn about Form 10BD and Form 10BE for donation statements and certificates under the Income Tax Act 1961, effective from 01.04.2021. Understand the procedure, time limits, details required, and consequences of non-filing. Stay compliant and informed for seamless deduction claims.
