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Income Tax : Learn about TDS/TCS concepts, invoicing rules, due dates, interest, and late fees. Includes examples and simplified guidance for c...
Income Tax : Analyze the tax implications of the HUF structure in India, covering its formation, membership, rights, and financial management a...
Income Tax : This article discusses whether TDS applies to CSR Expenses, under which sections and how Companies can stay compliant....
Income Tax : Indian residents can claim credit for taxes paid on overseas income to avoid double taxation under Income Tax Act sections 90, 90A...
Income Tax : Taxpayers missing the ITR deadline can claim delayed refunds for TDS/advance tax paid, subject to limits and conditions under CBDT...
Income Tax : Income Tax Department warns against wrongful refund claims in ITRs. Explains consequences like penalties, scrutiny, prosecution, a...
Income Tax : CBI conducts searches at 11 locations in Jaipur, Ahmedabad, Gandhinagar in a disproportionate assets case against an IRS officer a...
Income Tax : Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT f...
Income Tax : CBDT revises ITR Forms 1 & 4 for AY 2025-26, expanding eligibility criteria, adding disclosure requirements and simplifying compli...
Income Tax : Provisional direct tax data for FY 2024-25. Net collections reach ₹22,26,231 crore, a 13.57% increase. Corporate, non-corporate ...
Income Tax : Thus, a substantial portion of the cause of action has accrued at Kolkata. Applying the principle of forum convenience, it would b...
Income Tax : ITAT Nagpur held that addition under section 69A of the Income Tax Act towards unexplained money not tenable in absence of cross-e...
Income Tax : ITAT Delhi held GoDaddy's income from domain registration, hosting, and other services not taxable as royalty or FTS under the Inc...
Income Tax : Bombay High Court held that as per the terms and conditions of the agreement, the assessee was required to pay 5% of the receipt o...
Income Tax : Tax penalty under Section 271(1)(c) deleted by ITAT for an assessee whose income was misreported by a consultant, citing voluntary...
Income Tax : CBDT issues Income-tax (18th Amendment) Rules, 2025, substituting Form ITR-7. New form effective from April 1, 2025, under section...
Income Tax : CBDT revises ITR-V and Acknowledgement forms for AY 2025-26, effective April 1, 2025, with updated verification and filing instruc...
Income Tax : CBDT Notification 44/2025 amends Income-tax Rules 1962, substituting FORM ITR-6 in Appendix II, effective from April 1, 2025....
Income Tax : CBDT amends Income-tax Rules, 1962; introduces new ITR-2 form effective from 1st April 2025 via Notification No. 43/2025 dated 3rd...
Income Tax : CBDT issues Income-tax (Fourteenth Amendment) Rules, 2025, effective April 1, 2025, replacing FORM ITR-5 in Appendix-II....
The functionality for updating UDIN against the Audit reports submitted by CA users has been enabled at e-filing portal www.incometax.gov.in. Please note that this functionality may not be used for updating UDIN for Forms submitted prior to April 2021. In this functionality only those Forms will be shown which are accepted by the Assessee. This Instruction […]
Learn about the updated provision of filing an income tax return under the Income Tax Act. Find out how to file an updated return within two years from the end of the assessment year.
ADM Agro Industries Latur & Vizag Pvt. Ltd Vs DCIT (ITAT Delhi) The grievance of the assessee is that impugned order passed by the A.O is illegal and barred by time. Section 154(7) of the Act prescribes the limitations for the passing order u/s 154 of the Act. For the sake of clarity, same is […]
Lahmeyer Holding GambH Vs DDIT (ITAT Delhi) Assessee on the basis of bonafide belief to the effect, as the Assessee do not have PE in India qua projects on the basis of which income has been earned, therefore offered its income for tax on presumptive basis u/s 44BBB of the Act which prescribe the tax […]
Fiberhome India Private Limited Vs National E-Assessment Centre (Delhi High Court) 1. This petition has been filed by the petitioner challenging the Final Assessment Order dated 30.06.2021 passed by the respondent under Section 143(3) read with Section(s) 144C(3) and 144B of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’) for the Assessment […]
The Finance Act, 2020 has introduced a new provision as a result of which all existing trusts have to undergo re-registration under Section 12A and 80G and Re-approval U/s 10(23C) and Section 35(1). To give effect to this, new section 12AB has been inserted with effect from 1st April, 2020 dealing with the procedure of […]
CBDT notifies Rajasthan Electricity Regulatory Commission under section 10(46) of Income Tax Act vide Notification No. 30/2022-Income Tax Dated: 11th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 30/2022-Income Tax | Dated: 11th April, 2022 S.O. 1769(E).—In exercise of the powers conferred by clause (46) of […]
CBDT notifies Somnath Temple as place of historic importance and a place of public worship of renown under section 80G of Income-tax Act, 1961 vide Notification No. 29/2022-Income Tax Dated: 11th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 29/2022-Income Tax | Dated: 11th April, 2022 […]
CAG (Comptroller and Auditor General of India) has prepared a report on Assessments Relating to Agriculture Income which was presented in the 49th report of the Public Accounts Committee which clearly stated that the rich farmers whose agriculture income exceeds Rs 10 lakh per year limit, will face stricter scrutiny of agricultural income.
Discover the key changes in income tax returns (ITRs) for AY 2022-23. Stay updated with the latest amendments and understand the impact on your taxes.
