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Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...
Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
The Income Tax Appellate Tribunal (ITAT) Ahmedabad upheld the deletion of a Rs. 3.11 crore addition to an NRI’s income, ruling that funds transferred from an NRE account, originating from foreign earnings, are not taxable in India.
ITAT Jaipur to rule on NRI Ravindra Gaur’s Rs. 86 lakh NRE account deposit, claimed as foreign remittance, challenging ex-parte addition and Section 68 application.
Delhi High Court rules in favor of Russian Technology Centre on share capital additions, clarifying Section 68 and admissibility of evidence for foreign remittances.
Overview of Income Tax Returns (ITR) in India, detailing different forms (ITR-1 to ITR-7) based on taxpayer categories and income sources, plus current filing deadlines and verification tips.
Understand how Section 50AA impacts capital gains on debentures. Explore judicial rulings and the new Income Tax Bill 2025’s potential effect on long-term capital asset exemptions.
ITAT Chennai rules Section 6 of the Income Tax Act prevails over a Tax Residency Certificate (TRC) for determining Indian residency. Global income taxable if an individual meets the specified days in India, irrespective of TRC.
Understanding nuances of ITR-1 to ITR-6 is crucial for accurate tax filing. This guide provides a concise overview of which form to choose based on income sources and financial structures.
Received an unknown PAN alert? Learn how to protect yourself! This article covers a taxpayer’s recent dilemma with unauthorized PAN alerts, offering crucial steps to delink unknown PANs from your mobile number and safeguard against potential fraud. Get expert advice on contacting Income Tax India and securing your financial data
Bombay High Court held that in compulsory purchase order declaration of abrogation was not barred by virtue of section 269-UH and/ or section 293 of the Income Tax Act. Accordingly, order passed by Single Judge not sustainable.
Delhi High Court held that Larger Bench of Delhi High Court will decide the whether provisions of section 149(1)(c) of the Income Tax Act inserted by virtue of the Finance Act, 2012 will be applicable retrospectively in concluded assessment.
