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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...
ITAT Cochin remanded Baiju Kabeer’s case to CIT(A) for reassessment, citing lack of opportunity to explain cash deposits. Review the details of the judgment here.
ITAT Lucknow upholds denial of Section 54 exemption as investment in new property was made after the due date. Cites judicial precedents in support of ruling.
ITAT Chennai rules CSR donations to PM Relief Fund qualify for 80G deduction, overturning AO’s decision. Read key judicial precedents and tax law insights.
Through tax laws on Virtual Digital Assets (VDAs) like cryptocurrencies and Non-Fungible Tokens (NFTs), India has initiated the process of regulating digital assets. Nevertheless, it is not yet evident how digital commodities, virtual properties, and incomes from economic activities based in the metaverse would be taxed.
Confused between India’s new and old tax regimes? Compare lower rates with exemptions, simplicity vs. savings. Find the best fit for your income and investments.
Bombay High Court condones delay in filing Form 10B by Warkari Shikshan Sanstha for AY 2019-2020, 2021-2022, and 2022-2023 due to COVID-19 hardships.
ITAT Mumbai rules in Dharmesh Jhaveri’s case: Stamp duty value at allotment date, not registration, to determine Section 56(2)(vii)(b) addition. Appeal allowed.
Bangalore ITAT rejects DVO valuation, upholds equal treatment for co-owners in capital gains case, citing Supreme Court precedent.
Ahmedabad ITAT remands Rs. 1 crore addition based on partner’s statement, citing lack of corroborating evidence, orders fresh CIT(A) review.
Bangalore ITAT overturns AO’s PE classification of QlikTech India, orders fresh review based on TPO order, addresses TDS and interest issues.
