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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...
DCIT Vs Continental Warehousing Corporation (Nhava Sheva) Ltd (ITAT Pune) The only issue is to be decided is as to whether the CIT(A) justified in allowing deduction u/s. 80IA(4) of the Act in respect of Container Freight Station (CFS). At the outset, we note that this issue is covered in favour of the assessee by […]
ITO Vs Tilak Proficient Nidhi Limited (ITAT Allahabad) The ld. CIT(A) simply accepted all the contentions /additional evidences filed by the assessee, without complying with Rule 46A of the Income Tax Rules, 1962, as it was incumbent on ld. CIT(A) to have forwarded all these additional evidences/explanations filed by assessee to the AO for its […]
ITAT held that Even if it is assumed MD was ill which incapacitated him for continuously four years , the assessee could have entrusted the task to other Directors/officers of the assessee
ICAI Releases Exposure Draft Guidance Note On Report Under Section 92E Of Income-Tax Act, 1961 (Transfer Pricing) Based on the law as amended by Finance Act, 2022
Representation requesting for Extension of due date for filing Income Tax Returns (Non-Audit and Salaried) for AY 2022-23 under section 139(1) of IT Act, 1961 with further request to permanently fix date of Filing ITRs as 31st August in future by issuing Notification
Respondent had voluminous transactions, it committed an error while posting the relevant dividend entry, which was covered by one voucher since it was received on the same security.
Shri Mohanlal Savjibhai Tilva Vs ACIT (ITAT Ahmedabad) The case of the assessee was that the loan in cash was taken from his HUF on account of extreme business exigency and necessity of honouring post dated cheques issued to the third parties. Further at that time, the assessee was not having sufficient balance in the […]
CBDT notifies CPPIB Credit Investments VI Inc. as a Pension Fund under section 10(23FE)(c)(iv) vide Notification No. 86/2022-Income-tax | Dated: 21st July, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 86/2022-Income-tax | Dated: 21st July, 2022 S.O. 3324(E).—In exercise of the powers conferred by sub-clause (iv) of […]
CBDT notifies Odisha Electricity Regulatory Commission under Section 10(46) of income Tax Act, 1961 vide Notification No. 85/2022-Income-Tax | Dated: 21st July, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 21st July, 2022 Notification No. 85/2022-Income-Tax | Dated: 21st July, 2022 S.O. 3315(E).—In exercise of the powers conferred by […]
Held that it is well settled law that, the sale of software product which will not giving rise to royalty income.
