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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 : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
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 : DCIT Vs Triton Hotels and Resorts Private Limited (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai, adjudicated appeals ...
Income Tax : ITAT Pune rules that an ITI substantially funded by the government qualifies for tax exemption under Section 10(23C)(iiiab), even ...
Income Tax : ITAT Rajkot remanded the matter as lower authority has not exercised their power to enquiry in section 131 and 133(6) of the Act t...
Income Tax : ITAT Bangalore upholds CIT(A)'s decision, stating that belated filing of Form 10 is a procedural lapse and doesn't disqualify an i...
Income Tax : It is also noteworthy that the learned Departmental Representative (DR), during the hearing, did not point out any material differ...
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...
As per the records of the Centralized Processing Cell (TDS), it has been observed that the Accounts Office Identification Number (AIN) has not been mentioned in the TDS statements submitted by you. What is AIN and its relevance : AIN is a unique seven digit number allotted by NSDL, to the Pay and Accounts Office […]
We are Enclosing herein below copy of Finance(NO.2) Act, 2014 assented by Hon’ble President of India. Download Download Finance(NO.2) Act, 2014 assented by President of India Submitted by –Sumit Grover Read Other Articles from CA Sumit Grover
Representation made by ICAI with respect to new formats of Form No.3CA/3CB and 3CD. – (11-08-2014) The new formats of tax audit reports namely Form No.3CA, 3CB and 3CD have been notified through Notification no. 33/2014 on 25/7/2014 with immediate effect. With regard to the same, certain genuine concerns were raised by the members, which, […]
CPC (TDS) mandates closure of Short Payment Defaults using Online Correction facility before allowing Conso Files The Centralized Processing Cell (TDS), in its endeavour to enforce TDS Compliance, is shortly mandating closure of ‘Short Payment defaults’ in the quarterly TDS statements due to Unmatched Challans, before the Conso files can be downloaded from TRACES for […]
Notification No. 35/2014-Income Tax Whereas, an Agreement between the Government of the Republic of India and the Government of the Republic of Fiji for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed in India on the 30th day of January, 2014 (hereinafter referred to as the Agreement);
In the Case of Shree Builders Vs. UOI, M.P.High Court issued notice to Union of India against validity of section 234E of Income Tax Act,1961 and granted stay of demand. Case was argued by A.P.Shrivastava Advocate accompanied by Advocate Sapan Usrethe.
Special Judge for CBI cases, Visakhaptnam has convicted Sri Lakimsetty Pulla Rao, the then Income Tax Inspector, Ward-1, Tanuku, West Godavari District (Andhra Pradesh) in a Disproportionate Assets case and sentenced him to undergo three years Simple Imprisonment with fine of Rs.20,000/-. The Special Judge further ordered to confiscate the property of the accused to […]
According to decision of Hon’ble Calcutta High Court in the case where addition is made on account of application of section 50C and Revenue failed to produce any evidence to the effect that assessee has actually received more amount than that shown by it on the sale of property then penalty under section 271(1)(c) cannot be levied.
Bombay High Court has explained the law in the case of CIT vs. Tip Top Typography on three issues related to determination of Annual value in calculation of Income from House property:- (i) whether the municipal valuation of the property was binding on the Assessing Officer
Consequences of failure to pay the demand: In accordance with provisions of section 201(1) of the Act, where any person, including the principal officer of a company, who is required to deduct any sum in accordance with the provisions of the Act; does not pay, or after so deducting fails to pay, the whole or […]
