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Income Tax : Overview of Finance Act 2025 changes: capital assets, fund manager relocation, search case assessments, and more. ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : DPIIT's Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance eas...
Income Tax : Analysis of Form 3CD amendments effective April 1, 2025. Understand the impact on tax audits, MSME reporting, and cross-border com...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : Bombay High Court quashes income tax notices to Srimani Basu due to improper service from address discrepancy, grants fresh hearin...
Income Tax : ITAT Ahmedabad overturns 12A and 80G renewal rejections, citing lack of examination by CIT(E) and violation of natural justice....
Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
Income Tax : Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ di...
Income Tax : The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the P...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Held that the subsidy granted for encouraging the dispersal of industries to the less developed areas of the State of Maharashtra cannot be treated as revenue receipt.
Held that there is no observation of the AO that quantity of construction work-in-progress is more than the quantity valued as per first set of financial statement. Accordingly, addition deleted
MAT credit u/s. 115JA cannot be denied on Surcharge, education cess and additional surcharge – secondary and higher education cess
Claim of assessee cannot be rejected on mere doubt without bringing any material on record to suggest that this is only accommodation entry.
Assessee assigned the reason for condoning the delay was that, ‘his daughter was hospitalized in the month which is a reasonable cause
The excuse orally being set up usually by the departmental counsels is that there is some problem in the computerisation system which is solely controlled by the CBDT and they can not, at their own, correct the system.
Understanding assessment under the income tax act, 1961. Learn about the different types of assessments and their implications for taxpayers.
Mandheshwari Urban Development Co-op. Bank Ltd. Vs ACIT (ITAT Pune) issue in the present appeal relates to whether a nominal member, who is not a registered member of the society, can be treated as a member of the cooperative society whether the exemption is available under clause (v) of sub-section (3) of section 194A of […]
ITAT held that interest on delayed payment of TDS cannot be allowed as deduction in terms of section 40(a)(ii) of Income Tax Act, 1961.
ITAT held that cash gifts received by the assessee from her brother and sister cannot be added as unexplained income under section 69A.
