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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Supreme Court held that the existence of an alternate remedy by itself cannot exclude the jurisdiction of the High Court under the Constitution.
Late Smt. Kanta Chandak Vs ITO (ITAT Jodhpur) On merits, the ld. AR submitted that the issue raked up by Ld PCIT relate to the deduction claimed by these assessees u/s 54 of the Act, which was allowed by the AO in the original assessment proceedings. He submitted that these assessees could not furnish proper […]
DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23
ITAT Chennai held that return of income has to be filed as per section 139 of the Income Tax Act for claiming benefit under section 10A. Exemption under section 10A is not available in case the return is filed belatedly.
Madras High Court directed the petitioner to file the pending GST returns thereafter the GST registration cancelled, on account of non-filing of GST return for continuous period of 6 months, will be restored
Unravel the complexities of leave encashment with a comprehensive guide. Understand the types of leaves – earned, sick, maternity, etc., and explore the tax implications of leave encashment. Delve into the Income Tax Acts provisions, exemptions, and taxable amounts. Learn the computation process and exemptions for government and non-government employees. Stay informed about thresholds, salary averages, and other key factors influencing leave encashment taxation.
Lokmangal Nagri Sahakari Path Sanstha Maryadit Vs PCIT (ITAT Pune) In the present case, we find that admittedly the interest income was earned from the cooperative banks, the cooperative bank is also a specie of cooperative society, therefore, the interest income earned by the cooperative society from the cooperative banks qualifies for deduction u/s 80(P)(2)(d) […]
Shri Arunoday Multi State Cooperative Credit Society Ltd. Vs PCIT (ITAT Pune) The issue in the present appeal relates to the validity of assumption of jurisdiction u/s 263 by the ld. PCIT. The Parliament had conferred the power of revision on the Commissioner of Income Tax u/s 263 of the Act in case the assessment […]
Delhi High Court held that addition on the basis of single seized document is unsustainable as no fresh material was taken into account by the AO for reopening the assessment under Section 147 of the Act.
Learn about TDS and its rates for F.Y.2022-23. Understand who needs to file TDS returns and the consequences of non-filing.
