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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...
Gulshan Investment Pvt. Ltd. Vs JCIT (OSD) (ITAT Delhi) No Addition u/s 153A without incriminating material found during search – Statements of third parties not sufficient: ITAT Delhi Gulshan Investment Pvt. Ltd & others Vs JCIT -ITA No.3872/Del/2024 dt 16.4.25 The core dispute involves additions made by the AO u/s 153A following a search & […]
ITAT Kolkata rules no legal requirement for knowhow registration to claim depreciation under Section 32. Landis + Gyr case summary.
Compare STCG and LTCG under the new regime FY24-25. Learn about tax rate changes, holding periods, thresholds, and set-off rules for listed equities and mutual funds.
Section 194T mandates 10% TDS on partner payments like salary, interest, or bonus by firms, effective from April 1, 2025, with a Rs. 20,000 threshold.
Delhi ITAT quashes reassessment in Vijender Nath Gupta case, citing AO’s failure to properly quantify escaped income during reopening.
ITAT Delhi rules Crocs Inc.’s service income not taxable in India under DTAA, as services did not “make available” technical knowledge to Crocs India.
Delhi ITAT: Section 153D approval requires specific application of mind per assessment year, not blanket or mechanical. Assessment quashed.
ITAT Delhi allows Birlasoft’s claims on lease equalization and business loss write-offs, rejecting tax authority’s disallowances for AY 2014-15.
Calcutta High Court held that seizure of jewellery is valid since legitimacy of jewellery not substantiated; discrepancies are found in documentation and weight and there was reasonable belief of potential wrongdoing.
Compare the old and new tax regimes, rates, exemptions, deductions, and more for FY 2025-26. Choose the best option based on your financial situation.
