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Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with ...
Income Tax : Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : ITAT Ahmedabad held that fresh assessment is necessary in case of taxability of interest earned from Fixed Deposit from compensati...
Income Tax : Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the fili...
Income Tax : In the present case, recovery or repayment of fraudulent income does not qualify as an allowable expense. Allowing deductions for ...
Income Tax : ITAT Ahmedabad held that as per the provisions of Section 167B of the Income Tax Act, Maximum Marginal Rate (MMR) is applicable on...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
The issue under consideration whether deduction under section 80IA(4) can be claimed on Container Freight Station (CFS) as it constitutes an ‘inland port’? Container Freight Station Constitutes as Inland Port Hence Eligible for Deduction u/s 80IA(4).
In this article we look at need for tax planning for foreign Chinese-invested enterprises in Kenya. What is a foreign Chinese invested enterprise? Guo Shui Fa [2009] No. 82 (circular by SAT) defines a foreign Chinese invested enterprise as an enterprise ‘registered and established outside the territory of China in accordance with the laws of […]
CFA Institute Vs Brickwork Finance Academy (Delhi High Court) Conclusion: High Court refused to grant an injunction against the Banking Financial Analyst (BFA) for the alleged infringement of Chartered Financial Analysts (CFA) registered mark as the class of customers who were likely to avail/pursue the courses of the either CFA or BFA would be capable […]
The issue under consideration is whether the roaming charges paid by the assessee to the other telecom service provider are in the nature of ‘Fee for technical Services’ and hence liable for deduction of tax at source u/s 194J of the Act?
The issue under consideration is whether the expenditure incurred by the assessee on the lease premises towards civil furniture, etc. is a revenue expenditure or capital expenditure?
We would request you to further extend the due date of filing tax audit report to 28 February 2021 and Income tax return filing to 31 March at the earliest. The entire fraternity of tax payers and professionals will highly appreciate if this is done soon enough (i.e. well in advance).
Prologue The shares allotted by the employer under Employee Stock Option Plan (ESOP) are taxable in the hands of the employees as perquisite u/s 17(2)(vi) of the Income-tax Act, 1961 (‘the Act’) under the head salary. Regarding ESOP, the bone of contention between the employer Assessee and the tax department is on the tax deductibility […]
From October 1, 2020, our Government has introduced a new provision for collecting TCS for the sale of goods and depositing the same to the Government. These provisions are given in Section 206C (1H) of the Income Tax Act. 1. What is Tax Collected at Source (TCS)? Tax Collected at Source (TCS) is the tax payable by […]
Permanent Account Number is a number allotted to a person by the Assessing Officer for the purpose of identification. PAN of the new series has 10 alphanumeric characters and is issued in the form of laminated card with photograph.
Arjuna, while playing on the Football Ground if, a player pushes other players or creates any obstruction then the referee whistles and show a Yellow Card. Yellow Card represents a mild penalty. If you look at Income Tax, the taxpayers are intimated by a prior notice and thereafter a penalty is levied
