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Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...
Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...
Income Tax : Rental income from sub-letting is taxed as "Income from other sources," not "Income from house property." Deemed ownership rules a...
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...
Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...
Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...
Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...
Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
The 163rd anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. As part of the celebrations, the field formations held a number of events and activities. The events by the field formations included outreach programmes for taxpayers recognising their contribution to the […]
Held that imposing penalty u/s. 271(1)(b) justified as necessary record impounded by the department was not supplied to the assessee, accordingly assessee failed to comply with the notice u/s. 142(1).
No Addition of Cash Deposit During Demonetisation Period under section 69A If Cash Deposit Is Part of Receipts Shown on Presumptive Basis and When the Part of Cash Deposit in Pre Demonetisation-Period Was Accepted.
Eligibility of remuneration, share of profits received from partnership firm, whose profits are eligible for deduction u/s 80IB of Income Tax
Estate of Late Harkishin Bhojraj Chanrai Vs DCIT CPC (ITAT Mumbai) Undisputed facts though the assessee has filed its return of income declaring an income of ₹ 1,288,261/– in the status of association of person of estate of a diseased individual. The tax liability is required to be computed as per the normal tax as […]
ITR last dates – Writ Petitions (WP) seems inevitable for directions to extend last date for filing of non-audit Income Tax Return (ITR)
Understand the tax implications of share transactions in your Income Tax Return. With the rise in Demat accounts during COVID-19, many investors are unaware of the tax impact on share dealings. The AIS/TIS form on the Income Tax portal now captures share transactions, making it crucial to disclose this information. Learn where to report income or losses from intra-day, long-term gains, short-term gains, and F&O transactions. Proper disclosure ensures compliance and prevents notices from the tax department. Stay informed and choose the right ITR form for accurate reporting.
Representation, requesting for Extension of due date for filing of Income Tax Returns (Non-Audit and Salaried) for AY 2022-23 under section 139(1) of IT Act, 1961. ‘HOWRAH TAX BAR ASSOCIATION’ West Bengal has made a representation before The Chairman, Central Board of Direct Taxes on issues faced by Tax Payer and request for Extension of […]
Representation to Finance Ministry and CBDT to extend due date of filing Income Tax Returns u/s 139(1) of Income Tax Act, 1961 in non-audit cases from 31st July, 2022 to 31st August, 2022.
Understand the intricacies of maintaining books of accounts as per Section 44AA and Rule 6F of the Income Tax Act, 1961. Delve into the obligations for specified professions, businesses, and non-specified professions based on income and gross receipts thresholds. Explore the provisions related to compulsory audit under Section 44AB and learn about the due date for tax audit of accounts. Stay compliant and informed with the latest regulations.
