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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal held that an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Introduction: The Finance Act of 2023 introduced a significant amendment to Section 43B of the Income Tax Act, 1961, with the addition of clause (h). This amendment aims to ensure timely payments to micro and small enterprises, safeguarding their liquidity from potential delays in customer payments. Section 43B Overview: Section 43B of the Act is the […]
Explore the implications of Income Tax Section 43B(h) introduced by the Finance Act, 2023, affecting timely payments to Micro & Small Enterprises. Understand the legal provisions, classifications, and consequences for MSMEs and businesses.
Explore impact of Income Tax Act Section 43B(h) on businesses and Micro and Small Enterprises (MSEs). Learn about timeframe, importance, and implications for tax deductions, promoting timely payments for financial well-being.
Explore the controversial amendment to Section 87A of Income Tax Act, 1961 effective from AY 2024-25. Detailed analysis of its impact on tax liability and potential issues addressed. Learn how a drafting error may lead to unintended consequences.
Explore key points on Tax Collected at Source (TCS) changes in Budget 2024. Uncover implications, limits, and amendments affecting foreign remittances under Liberalised Remittance Scheme (LRS).
Unravel the intricacies of LTA under Section 10(5) of the Income Tax Act. Explore exemptions, key judgments like State Bank of India vs. ACIT, and practical considerations.
Explore the legal intricacies of Income Tax Act’s Section 36(1)(va) and Section 43B, the debates on retrospectivity, and the impact of recent amendments. Unravel the complexities with insights from Checkmate Services Pvt. Ltd vs CIT [2022 SCC OnLine SC 1423], ITAT Hyderabad ruling, and the perspective of the Hon’ble Delhi High Court.
Explore the highlights of Interim Union Budget 2024-25, its impact on direct and indirect taxation, GDP projections, and key changes in GST. Stay informed with our detailed analysis
Understand the intricacies of TDS on property purchases. Learn about rates, thresholds, responsibilities, and consequences. Stay informed to navigate real estate transactions smoothly.
In a landmark judgment, the Supreme Court cancels the condition of an extra deposit for stay continuation in Sambhu Prasad Agarwal’s tax evasion case. Full analysis here.
