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Income Tax : Discover how a banker resolved a longstanding customer complaint through effective communication, empathy, and attentive listening...
Income Tax : Understand capital gains tax, exemptions under Sections 54/54F, TDS rates, and tax filing requirements for property sales in India...
Income Tax : Rule 55 misinterpretations hinder aspiring Income Tax Practitioners, discouraging qualified youth and impacting self-employment op...
Income Tax : Written submission against wrong cash deposit notice under Section 148A(b), highlighting errors and lack of independent inquiry....
Income Tax : Exempted perquisites for salaried taxpayers, including medical, food, phone facilities, gifts, and more under the Income Tax Act, ...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT....
Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...
Income Tax : CBI arrests two Income Tax employees in Silchar for accepting Rs. 4,000 bribe as part of a Rs. 10,000 demand for PAN card closure....
Income Tax : State-wise details of women income tax filers from 2019 to 2024 show a steady increase in participation across India....
Income Tax : ITAT Ahmedabad uphold the CIT(A) order restricting TDS credit in proportion of income returned to tax. Accordingly, appeal of the ...
Income Tax : Delhi High Court held that there was no evidence of cessation of liability thus addition under section 41(1) of the Income Tax Ac...
Income Tax : ITAT Ahmedabad held that disallowance of deduction claimed under section 80IB(10) of the Income Tax Act rightly deleted as delay i...
Income Tax : ITAT Mumbai held that interest paid on loan from group entities are in the nature of reimbursement and therefore not liable for de...
Income Tax : Delhi High Court held that the assessee was not afforded an opportunity to counter the allegation that it was a conduit company wi...
Income Tax : Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific distr...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : Overview of steps in the ITBA Assessment Module for passing assessment orders, including income computation, feedback, and order g...
Income Tax : CBDT extends the due date for filing income tax returns under section 92E for AY 2024-25 from 30th November 2024 to 15th December ...
Income Tax : Notification No. 124/2024 revises Income Tax Rules, introducing safe harbour provisions for foreign companies selling raw diamonds...
The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years.
ITAT Ahmedabad uphold the CIT(A) order restricting TDS credit in proportion of income returned to tax. Accordingly, appeal of the assessee dismissed. TDS credit was restricted to the tune of TDS pertaining to the income returned to tax in the impugned year and the balance credit was accordingly disallowed.
KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT.
Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific districts.
Delhi High Court held that there was no evidence of cessation of liability thus addition under section 41(1) of the Income Tax Act not justifiable. Accordingly, appeal filed by the revenue dismissed.
ITAT Ahmedabad held that disallowance of deduction claimed under section 80IB(10) of the Income Tax Act rightly deleted as delay in BU was due to dispute of jurisdiction between AMC and AUDA. Accordingly, following judgement of Jurisdictional HC and SC disallowance rightly deleted.
ITAT Mumbai held that interest paid on loan from group entities are in the nature of reimbursement and therefore not liable for deduction of TDS. Therefore, addition made by AO is directed to be deleted.
Delhi High Court held that the assessee was not afforded an opportunity to counter the allegation that it was a conduit company without any substance. Thus, the appeal filed by the revenue dismissed.
ITAT Ahmedabad deleted disallowance of sales promotion expenditure since disallowance constitutes small percentage as compared to turnover of the assessee and also there is no allegation of expenditure incurred in cash.
ITAT Delhi held that disallowance @10% of personnel expenditure not justified since AO mistakenly presumed expenses claimed by assessee as personal expenditure instead of personnel expenditure. Thus, appeal allowed.
