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Income Tax : Explore the implications of the Places of Worship Act, 1991, its impact on India's cultural heritage, and the challenges in foster...
Income Tax : Learn how to pay income tax online easily. Check the latest list of empaneled banks for e-tax payment (Nov 2024) and follow a simp...
Income Tax : Explore the potential of ADR mechanisms in resolving taxation disputes, addressing government concerns, and improving efficiency i...
Income Tax : Learn about common irregularities in tax audit reports for AY 2023-24, including reporting gaps in Forms 3CA/3CB, SA 700, and sect...
Income Tax : Section 144C of IT Act, 1961 was brought through Finance Act, 2009 & introduced for orderly assessment with respect to the interna...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT....
Income Tax : Govt. confirms no changes to the process of tax exemptions for STs in Meghalaya, clarifying no certificates are needed to claim ex...
Income Tax : CBI arrests two Income Tax employees in Silchar for accepting Rs. 4,000 bribe as part of a Rs. 10,000 demand for PAN card closure....
Income Tax : State-wise details of women income tax filers from 2019 to 2024 show a steady increase in participation across India....
Income Tax : Allahabad High Court held that no substantial question of law arise since Tribunal after thorough scrutiny concluded that invocati...
Income Tax : Delhi High Court held that TDS under section 194C of the Income Tax Act not deductible on capital grant subsidy extended by NHAI t...
Income Tax : ITAT Ahmedabad held that registration to trust under section 12AB of the Income Tax Act granted since assessee demonstrated that e...
Income Tax : ITAT Delhi remands penalty under Section 271AAB for reassessment, linking it to reconsidered quantum addition. Fresh proceedings o...
Income Tax : ITAT dismisses Revenue’s tax appeal due to jurisdiction issues, allowing the revenue to approach the appropriate bench for furth...
Income Tax : CBDT amends Notification No. 44/2020 under Section 10(23FE) of Income-tax Act. Changes take effect from publication in the Officia...
Income Tax : Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific distr...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : Overview of steps in the ITBA Assessment Module for passing assessment orders, including income computation, feedback, and order g...
Income Tax : CBDT extends the due date for filing income tax returns under section 92E for AY 2024-25 from 30th November 2024 to 15th December ...
Addition by AO without providing any cogent reasoning or working, based on which such disallowances were made are not sustainable.
Asessee has failed to appear on 8 occasions before the ld. CIT(A). Conduct of assessee is clogging justice delivery system. Hence, ITAT directed the assessee to pay Rs.10,000/- to Prime Minister’s National Relief Fund
Disputed demand has arisen for failure of Tata Teleservices to deduct tax at source on interest payments made to China Development Bank
Article explains How to claim deduction under section 54EC on Short Term Capital Gain on depreciable assets held for more than 36 Months.
Income Tax Department carried out a search operation on 03.08.2022 on two major groups engaged in the manufacturing of steel TMT Bars.
Held that provision of deemed dividend u/s 2(22)(e) cannot be invoked unless the recipient of loan is a shareholder of the company. If recipient of loan is not shareholder in a company from which loan is received, such loan cannot be assessed as deemed divided.
Held that payment of federal taxes on the different between FMV and the grant price establishes that assessee is paying tax treating the value of shares as perquisite. Accordingly, provisions of section 49(2AA) are applicable. Cost of acquisition of share cannot be FMV.
INTRODUCTION : The Section 44AD of the Income Tax Act, 1961 is a presumptive business income section. This section is generally applicable in the cases of large number of tax payers. This section is thoroughly related with Section 44AA (liability for compulsory maintenance of books of accounts) and Section 44AB (liability for getting books of […]
Held that principle of res judicata is not applicable to decision of revenue authorities and, therefore, decisions given in an assessment for an earlier year are not binding either on assessee or on department in a subsequent year.
Held that a domestic transaction of purchase from the related party is not required to be considered as a specified domestic transaction under section 92BA.
