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Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...
Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...
Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...
Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...
Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : Karnataka High Court held that settlement commission, accepting additional income offered as reasonable and giving immunity from p...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : ITAT Pune restored the assessment order as assessee neither filed any evidence nor provided material in an attempt to discharge th...
Income Tax : Rajasthan HC upholds penalty under Section 271(1)(c) of the Income Tax Act, 1961 for unexplained cash deposits after withdrawals. ...
Income Tax : ITAT Delhi held that the condition of make available was not satisfied for services when provided by assessee did not enabled the ...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for the fintech sector in India. The government’s policy focuses on phasing out existing exemptions and simplifying the tax structure. While there are no special incentives for fintech companies, corporate tax rates […]
Author attempt a comparative analysis of the taxation of income earned from the Immovable property held for earning Long Term Capital Gain with the most Common Assets which have been taxed at higher rates for a very long time.
When an assessee voluntarily discloses income and the assessment is based on this disclosure without any changes, imposing a penalty under Section 271(1)(c) is unjustified.
Explore the detailed analysis of ITAT Jaipur’s judgment in Sunil Chablani Vs Circle (Intl. Tax) case. Key issues include jurisdiction, assessment errors, and procedural flaws.
The removal of Angel Tax is a major relief for startups. Discover implications, benefits, and potential downsides of this significant change.
Explore the journey of capital gains tax on listed equity under India’s Income Tax Act, from its inception to recent budget changes, including rates, exemptions, and holding periods.
Learn about how the holding period of property impacts Capital Gain tax, including ITAT’s recent decision clarifying calculations from the allotment date.
Naveen Bolia Vs ITO (ITAT Jodhpur) The case of Naveen Bolia Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) Jodhpur, revolves around the legality of assessment and the merits of certain additions made by the Assessing Officer (AO). The appellant, Naveen Bolia, challenged the assessment order on two primary grounds: the legality of […]
Penalties under Section 271(1)(c) cannot be imposed based on estimated additions without concrete evidence of concealment or inaccurate particulars of income.
Missed the ITR filing deadline? Learn the penalties, interest charges, and restrictions. Understand the consequences and how to file belated or updated returns.
