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Income Tax : The new Income Tax Bill consolidates provisions for non-profits, covering registration, taxation, compliance, and capital gains ru...
Income Tax : The Income-Tax Bill 2025 simplifies house property income taxation, reducing complexity while maintaining key provisions for bette...
Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Explore why Cost Accountants (CMAs) should be included in the definition of "Accountant" under the Income Tax Bill 2025 for a comp...
Income Tax : Understand the New Tax Regime 2025 with updated slabs, deductions, and exemptions. Learn how to save tax and choose the best regim...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Karnataka High Court dismisses Revenue’s appeal in PCIT Vs Ennoble Construction, ruling on transport creditors' tax liability ...
Income Tax : Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and ...
Income Tax : Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA ...
Income Tax : Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and h...
Income Tax : Delhi High Court held that Freight Logistic Support Service provided by appellant are not in the nature of Fee for Technical Servi...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
The Finance Act 2021 introduced new Sections 206AB and 206CCA levying TDS/TCS at double rate w.e.f. 1st of July 2021 Background, Relevance, Applicability & Rate: The central government proposed Section 206AB (TDS) & Section 206CCA (TCS) consist of a special provision for the deduction of TDS at a higher rate for the non-filers of income […]
TDS on purchase of Goods under section 194Q from 01.07.2021 introduced by Finance Act 2021 Provision relating to deduction of TDS :- Any person, being a buyer who is responsible for paying any sum to any resident seller for the purchase of any goods of the value or aggregate of such value exceeding fifty lakh […]
Q.1 Who is eligible to file ITR-2 for AY 2021-22? Ans. ITR-2 can be filed by individuals or HUFs who: -Are not eligible to file ITR-1 (Sahaj) -Do not have income from profit and gains of business or profession and also do not have income from profits and gains of business or profession in the […]
FAQs on Form ITR – 1 Q.1 Who is eligible to file ITR-1 for AY 2021-22? Ans: ITR-1 can be filed by a Resident Individual whose: -Total income does not exceed ₹ 50 lakh during the FY -Income is from salary, one house property, family pension income, agricultural income (up to ₹5000/-), and other sources, […]
Q. 1. What is Form 10B? Form 10B enables a taxpayer to file an audit report if the taxpayer has applied for or is already registered as charitable or religious trust / institution by filing Form 10A. Form 10B is accessed by the CA added by the taxpayer under the My CA service and is […]
1. Overview All users registered on the e-Filing portal can choose to use the Offline Utility when filing Income Tax Statutory Forms. With this service, you can file Income Tax Statutory Forms by uploading the utility-generated JSON: Post login to the e-Filing portal, or Directly through the Offline Utility This service on the e-Filing portal offers an […]
Q.1 What is Form 35? If you are aggrieved by an order of an Assessing Officer (AO), you can file an appeal against the same before the Commissioner of Income Tax (Appeals) by submitting duly filled Form 35 online on the e-Filing portal. Q.2 Who can use Form 35? Any assessee / deductor who wants […]
Understanding the importance of Books of Accounts, Documents, and Evidence in amended Section 149 of the Income Tax Act, 1961.
A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The meeting was presided over by Union Minister for Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
E. Palaniappan Vs ITO (Madras High Court) It is not the case of the appellant/assessee that the sugarcane in its original form could not be marketed by him. The conversion of sugarcane into jaggery is also not an essential process to make sugarcane marketable. In the decision in CIT Vs. H.G. DATE (1971) reported in […]
