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Income Tax : Received an HRA exemption notice from the Income Tax Dept? Understand the TDS on rent rule and steps to resolve it without stress....
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Confused about TDS on rent? Understand Section 194-IB, its implications, penalties, and solutions to rectify non-compliance. Find ...
Income Tax : Understand amendments in Section 200(3) of the Income Tax Act, effective via Finance Act 2024, impacting TDS correction deadlines ...
Income Tax : Learn about the Lower Deduction Certificate under Sections 197 & 206C(9) of the Income Tax Act. Understand eligibility, applicatio...
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 : Allahabad HC quashes GST demand against Solvi Enterprises, ruling that the selling dealer was registered at the time of transactio...
Income Tax : PCIT Vs Greenply Industries Ltd (Gauhati High Court) The Gauhati High Court’s recent judgment in “The Principal Commis...
Income Tax : ITAT Mumbai held that Sai Baba Sansthan Trust being both charitable and religious trust falls within exceptions provided under sec...
Income Tax : ITAT Mumbai held that developer is entitled for deduction under section 80-IA of the Income Tax Act for carrying out development w...
Income Tax : ITAT Raipur held that assessment framed by AO u/s. 143(3) r.w.s. 147 of the Income Tax Act without issuance of notice under sectio...
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...
Surender Vs ITO (ITAT Delhi) The assessee has suffered an assessment order dated 14/12/2016, but the assessee has challenged the same before the CIT(A) with a delay of 224 days. It is the case of the assessee before the Ld. CIT(A) for condoning the delay is ‘that the assessee was under the impression that his […]
Learn about the Supreme Courts landmark judgement on tax exemption for profit-oriented institutions under section 10(23C) of the Income Tax Act.
Troubleshooting FAQs on filing Income Tax Returns (ITR) – Find solutions for common errors and issues encountered during the online filing process.
ACIT Vs Ahmedabad Urban Development Authority (Supreme Court) In these batch of appeals and special leave petitions, the primary question which falls for consideration is the correct interpretation of the proviso to Section 2(15) of the IT Act introduced by amendment w.e.f. 01.04.2009. It is necessary, at this stage, to notice that the IT Act visualized […]
Supreme Court held that the valuation of shares for the purpose of gift tax needs to take into consideration the limitations and restrictions.
Mere registration at later date would not cover a transaction already executed in the earlier years and substantial obligations have already been discharged and a substantive right has accrued to the assessee therefrom.
ITAT Pune rules in favor of Sanjay Dattatraya Dapodikar. Section 56(2)(vii)(b) not applicable in 2015, stamp value on 2008 agreement considered.
Ashutosh Jha (HUF) Vs ITO (ITAT Ranchi) Where assessee purchased a property and made part payment of sale consideration by cheque on very next day of execution of purchase agreement and registry was done after a year, since such part payment made by cheque on very next day of execution of agreement was towards fulfilment […]
Mohd. Ilyas Ansari Vs ITO (ITAT Mumbai) Assessing Officer mechanically applied provisions of section 56(2) to difference between stamp duty value and actual sale consideration paid by assessee and made additions, without making any efforts to find out actual cost of property, additions made by Assessing Officer were to be set aside. In this case […]
ITAT Delhi held that income tax exemption shall be available to the Defence Forces Personnel who have been invalidated from service on account of bodily disability while in service.
