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Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and d...
Income Tax : The Income Tax Bill 2025, set to replace the 1961 Act, redefines the role of Chartered Accountants in tax compliance and represent...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
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 : Telangana High Court quashes non-speaking income tax stay orders for AY 2022-23, remanding the case for fresh consideration per le...
Income Tax : ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative ban...
Income Tax : ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back ...
Income Tax : ITAT Ranchi permits Gajanand Bhalotia to withdraw appeal as he opts for the Vivad se Vishwas Scheme, with an option for restoratio...
Income Tax : ITAT Chennai overturns AO's Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unex...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
Declaration of a candidate of Common Proficiency Test (CPT), Intermediate (IPC) and Final examinations conducted by the Institute of Chartered Accountants of India (ICAI), as a rank holder. – (10-09-2014) 9th September, 2014 ICAI recognizes meritorious candidates in CPT, by ranking them on the basis of the aggregate marks obtained by them in CPT up […]
CA Paras Mehra Raghav Raj Raman, IT software engineer, with his friend started a business of providing designer, developer consultancies to various clients in India and abroad. They are skillful enough but still they are not able to earn much. Therefore, they decided to add a new partner to their business. They all agreed on […]
We have found that the G.P. rate in this year has been on lower side. However, the decrease in G.P. rate stands explained by the undeniable reasons that there is heavy increase in purchase price, freight cost and export cost.
Himachal Pradesh High Court in the case of CIT vs. Pawan Agarwal and others that the activity of drawing wires of thinner gauges from wires and rods of thicker gauges amount to manufacture as the paper insulated wires
V Swaminathan B.Sc. B.L., FCA Recently Member (Income Tax), CBDT Ms. Anita Kapur has commented that government should Draft Tax Laws That Promote Intent Rather Than Litigation. Some of the suggestions, unlike/except the ones such as found a mention in the concluding para of the write-up seemingly well-balanced, are prima facie lop- (one-) sided; leaning […]
CA Suhdir Halakhandi – The Mid-year introduction of New formats of Tax audit reports and further extension of date of Tax audit report without extending the date of filing of return has created a lot of controversy and in this respect two writ petitions have been filed in Hon. Delhi high court and Hon. Gujarat High Court by CA Mahesh Kumar and CA Rajni Shah respectively and both are coming up for hearing on 15th Sept 2014.
ORDER NO. 154 OF 2014 The following officers in the grade of Assistant / Deputy Commissioner of Income Tax are, hereby, transferred and posted as indicated against names of each of them with immediate effect and until further orders:
The question pertains to the purchases made by the assessee-respondent. On account of unverifiable purchases, the Assessing Officer made additions to the tune of Rs. 1.27 crores. He was of the opinion that none of the parties could be located and therefore, such purchases were held to be bogus.
Attention Deductors: The Online Correction functionality with enhanced features has been enabled “without Digital Signature” for Financial Year 2012-13 onwards. Digital Signature will be required only for PAN Corrections Tag/Replace Challan has been enabled on TRACES Details of manual and processed demands based on financial year are now available through a link on TRACES deductor […]
AO, in his remand report could not bring out any fact that the cash withdrawn from Saving Bank Account and partnership overdraft account was used for other purpose anywhere else then, merely because there was a time gap between withdrawal of cash and its further deposit to the bank account, the amount can not be treated as income from undisclosed sources u/s 69 of the Act in the hands of the assessee.
