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Income Tax : Understand India's taxation system, including direct and indirect taxes, their impact, and ongoing reforms to ensure equity and ef...
Income Tax : Explore the concept of agricultural income under Income Tax Act 1961, including definitions, exemptions, and conditions for income...
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Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : ITAT Kolkata addressed TDS disallowance and procedural compliance in PBN Constructions Pvt. Ltd. Vs DCIT. Analysis includes judici...
Income Tax : ITAT Amritsar held that there is no violation of provisions of section 269SS of the Income Tax Act when cash payment was made at o...
Income Tax : ITAT Pune remands the appeal of Mula Parisar Serva Seva Sangh regarding TDS refund claim for 2018-19, citing past precedents....
Income Tax : ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sen...
Income Tax : ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expense...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
In this case AO has made the addition as some of the suppliers of the assessee were declared Hawala dealer by the Sales tax Department. This may be a good reason for making further investigation but the AO did not make any further investigation and merely completed the assessment on suspicion
AO was not justified in making the addition on the basis of statements given by the third parties before the Sales Tax Department, without conducting any other investigation. In the instant case also, the assessing officer has made the impugned addition on the basis of statements given by the parties before the Sales tax department.
Approval of the competent authority is conveyed for posting of the following officials for posting in Directorate of Systems for setting up of “Project Insight”/CPC-Compliance Management (CPC-CM) under provisions of CPC-Staffing Scheme by diversion of posts with
This article is primarily meant for interest earners wherein they earn interest income from Fixed deposits and etc. other interest bearing instruments. While putting money in Fixed deposits and etc. other interest bearing instruments, quite some number of us do not give a duly filled and signed Form 15G for lower/non-deduction of Tax Deducted at […]
Calcutta High Court held In the case of Late Sushil Modi vs.CIT that the contention of the assessee that he need not prove his case and the assessing officer is bound to find corroboration by making independent enquiry is neither based on law nor is supported by reason.
Where the landowner and builder execute joint development agreement, if the consideration is receivable in built-up area to be constructed and handed over by the builder to the landowner, it is advisable to avoid the applicability of section 53A of the Transfer of Property Act. This can be achieved by mentioning in the agreement that license is granted to the builder to enter the premises and construct the building. The possession is retained by the landowner, which will be handed over as and when the built-up area is constructed and delivered. By this stipulation, the transfer will take place only in the year in which the built-up area is received and not before.
Notification No. 33/2015 – Income Tax Dated- 1st day of April, 2015 Provided that in a case where an application has been filed on or before the 31st day of March, 2015, Form No. 3CEDA along with proof of payment of additional fee may be filed at any time on or before the 30th day of June, 2015 or the date of entering into the agreement whichever is earlier:
While discussing the Revisional powers of CIT(A) u/s 263 it was held that the Commissioner has to be satisfied of twin conditions, namely, i) the order is erroneous; and ii) it is prejudicial to the interests of the revenue.
n was judicially held in the case of Bharat Earth Movers Vs. CIT (2000) 6 SCC 645 that if a business liability has arisen in the accounting year, the deduction should be allowed even if such a liability may have to be quantified and discharged at a future date.
The rules relating to Roll Back of an Advance Pricing Agreement (APA) have been notified through notification no. S.O. 758 (E) dated 14th March, 2015. As per sub-rule (5) of the newly prescribed rule 10MA, where an application for entering into an advance pricing agreement has been filed prior to 1.01.2015
