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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...
Deduction reduced on account of interpretative process cannot per se be equated with furnishing of inaccurate particulars of income.
Explore Jayaprakasha Rai appeal against ITAT Bangalore order on TCS credit denial for Assessment Year 2018-19. Detailed analysis and implications discussed.
Calcutta High Court quashes IT notice against Tinplate Company, citing change of opinion in assessing officer approach. Detailed analysis and implications.
The assessee received intimation under section 143(1) of the Act from CPC Bengaluru and in the said intimation, certain adjustments were made as regards deduction claimed under section 11(2) of the Act, which according to the assessee have been incorrectly disallowed since assessee case is directly supported by the decision of the Calcutta High Court in the case of Natwarlal Chaudhry Charitable Trust 189 ITR 656 (Cal).
Since there was no valid transfer of land in question by assessee to the partnership firm of M/s. V Developers in the year under consideration giving rise to any capital gain and the transfer of the said land having validly taken place only in the previous year relevant to AY 2012-13 by assessee to M/s. V Developers, the capital gain arising from the said transfer was not chargeable to tax in the hands of the assessee for AY 2012-13 as duly declared by assessee in his return of income for AY 2012-13.
Find answers to your FAQs on TDS under section 194S of Income Tax Act, 1961. Understand the provisions, rates, and threshold limits for TDS on transfer of virtual digital assets (VDAs).
Addition u/s 69 unsustainable as assessee books of account have not been rejected and also durin search no incriminating material was found which would point out towards the assessee introducing her unaccounted cash into the books of account.
The assessee has received the share of profit as per the terms of the LLP agreement and, therefore, the same has rightly been held to be exempted u/s 10(2A) of the Act.
Detailed analysis of Sh. Jai Parkash Garg Vs PCIT case at ITAT Delhi. AO enquiry, PCIT jurisdiction, and conclusion discussed. Appeal allowed on 14/06/2022.
The assessee rent for the property which remained vacant for the entire year shall be calculated as per provisions of Section 23(1)(a) of the Act. Section 23(1)(c) will not be applicable in such case.
