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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 ...
Held that addition u/s. 68 and 69A unsustainable as evidences relating to cash deposited submitted and not doubted by AO and also books of account of the assessee are also not rejected u/s 145(3).
Clause (XII) of the first proviso of clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that any sum of money received by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family in […]
CBDT specifies Document to be submitted by employee to claim exemption on sum received for COVID-19 treatment vide Notification No. 90/2022-Income Tax, Dated: 05.08.2022 Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 90/2022-Income Tax | Dated: 5th August, 2022 S.O. 3703(E).—In exercise of the powers conferred by sub-clause […]
Held that as per section 21(2) of Deposit, Insurance and Credit Guarantee Corporation of India all the funds realized by Bank under liquidation are diverted at source. Such funds are not available to the assessee as income and hence such income is not taxable in the hands of the assessee.
CIT (Exemption) Vs Mukund Bhavan Trust (Bombay High Court) Bombay High Court held that Income of trust to the extent of violation of section 13 of Income Tax Act, 1961 is liable to tax at maximum marginal rate. Section 11 Exemption cannot be denied for violation of section 13 of the Act. FULL TEXT OF […]
Held that compensation with interest received by the assessee up to the date of land acquired pursuant to the Hon’ble Supreme Court order should be taxed under the head Capital Gains.
Held that assessee providing education activities only which results in university degrees in various courses is eligible for exemption u/s 11.
Office Order No. 166 of 2022 122 officers are, hereby, promoted to the grade of Commissioner of Income Tax (CIT) for the panel year 2022
Income from FDRs are treated as income from other sources under Section 56 of the Act. The expenses related to the said interest income earned by the assessee has to be allowed which is permissible under the Statute of law.
HC held that In the present case, the appellant had the right to apply for waiver of the interest charged under Section 234A or Section 234B, or Section 234C
