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Income Tax : Learn about the Lower Deduction Certificate under Sections 197 & 206C(9) of the Income Tax Act. Understand eligibility, applicatio...
Income Tax : Income of minors is clubbed with parents' income unless earned through personal skill or manual work. Tax planning strategies can ...
Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : ITAT Pune rules Form 10B filing not mandatory for Section 11/12 exemption claims, citing Gujarat High Court precedent, remands cas...
Income Tax : ITAT Pune allows patent drafting & translation expenses as revenue expenditure u/s 37, overturning lower authority's capital expen...
Income Tax : ITAT Mumbai rules PCIT's revision under Section 263 as erroneous. The tribunal holds non-initiation of penalty proceedings cannot ...
Income Tax : DCIT Vs Meridian Chem Bond Private Limited (ITAT Pune) Does Proving the Three Main Ingredients by Assessee U/S 68 Shift the Burden...
Income Tax : ITAT Bangalore sets aside ex-parte order against senior citizen, ruling that email-only notices denied a fair hearing. Case remand...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Delhi High Court in the case of Usha Rani Girdhar v. ITO held that Assessing officer cannot add primary allegation in Notice by issuing Supplementary Notice.
Pallavi Naresh Shah Vs. Union of India (Bombay High Court) No reply was filed by the assessee due to technical glitch on portal. order passed subsequently, under Section 147 r/w section 144B of the Income Tax Act, 1961 set aside. Matter remanded back. The Petitioner challenged the order of assessment passed under section 147 read […]
Non-resident Indians (NRIs) are taxed in India on their income that is earned or accrued in India. NRIs are also taxed on certain capital gains, such as the sale of property in India. NRIs are not taxed on income earned outside of India, unless it is deemed to be accrued or deemed to have arisen in India.
Understand common issues, solutions & suggestions to improve NFAC functioning. Issues with SCN time limit, assessment proceedings & request for personal hearing. Find solution for all challenges!
हाल में ही हैदराबाद आयकर अपीलीय प्राधिकरण ने एक सामाजिक एवं सेवा संस्थान फर्नाडीज फाउंडेशन की करमुक्त मान्यता को विभाग द्वारा रद्द करने के फैसले को सही ठहराया है. इस केस का नं आईटीए १८८४, १८८५, हैदराबाद, २०१९ एवं आईटीए २९९, हैदराबाद, २०२० है. कहा यह गया कि उपरोक्त संस्थान जो की फर्नाडीज हास्पिटल नाम […]
Income Tax Act 1961: Explore the section 10 clause that exempts some income from Total Income. Learn more about Sec 10(39) and its parameters!
HC held that genuine hardship faced by tax consultant which led to omission of timely filing of petitioner’s return sufficient cause for condonation of delay under section 119(2)(b)
Vodafone Idea Limited Vs Government of NCT of Delhi (Delhi High Court) The HC directed the Revenue Department to issue the rectified C-Forms, subject to the verification of entitlement on merits, without being burdened with issue concerning limitation. The petitioner is a telecom service provider. It undertook inter-state sales (C Forms). There was an error. […]
Whether on account of non reconciliation of purchases reflected by the party in GSTR 1 without supplying necessary details, the assessment order passed u/s 143(3)/144B is sustainable in law?
Smt. Priyanka Agarwal Vs DCIT (ITAT Jaipur) Taking into facts and circumstances of the case it is an evident from the show cause notice u/s 274 read with section 271AAB of the Act that the Assessing Officer was not clear i.e whether it is for the clause (a) or clause (b) or clause (c) of […]
