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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 : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
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 : 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 : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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...
Rule 7 mandates strict eligibility, rating, listing, investment, and compliance conditions for zero coupon bonds, empowering the Central Government to approve, reject, or withdraw notification based on adherence to these requirements.
The Supreme Court permitted the Revenue to approach the High Court with a clarification effective from 01.04.2021. It kept all issues open after the High Court had quashed reassessment notices for lack of faceless procedure.
The High Court set aside a Section 148 notice issued without following the mandatory faceless assessment procedure under Section 144B. It held that such action was without jurisdiction.
The High Court quashed a decades-old TDS prosecution after compounding fees and interest were fully paid. It held that revival of trial violated the right to a speedy trial and constituted abuse of process.
Rule 6 clarifies how the holding period of capital assets is computed in cases of conversion, IDS 2016 declarations, and branch restructuring, and explains how gains under section 67(10) are classified.
Rule 5 mandates that stock exchanges must apply to the CBDT with SEBI approval and proof of compliance with Rule 4 conditions, and recognition is granted or rejected within six months.
Rule 4 mandates SEBI approval, strict client data maintenance, non-erasure of transactions, and seven-year audit trail reporting for derivative trading recognition under section 2(92).
ITAT Pune held that failure to deposit the entire amount in the Capital Gains Account Scheme does not defeat Section 54F claim if full investment is made within the stipulated period. The ruling follows Karnataka High Court precedent. The addition of ₹91.45 lakh was deleted.
Draft Rule 3 mandates that companies maintain share registers in India, hold AGMs in India, and pay dividends only within India.
ITAT Mumbai held that requirement of Form no. 3CL for weighted deduction under section 35(2AB) of the Income Tax Act is effective only from AY 2016-2017. Accordingly, denial of claim for pre-amended period is not justifiable. Thus, appeal is allowed.
