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Income Tax : Learn how YouTube & Instagram earnings are taxed in India. Understand income tax slabs, TDS, GST rules, deductions, and compliance...
Income Tax : This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indi...
Income Tax : INTRODUCTION There are a few popular beliefs in India that agricultural income is completely exempt from tax. While this holds som...
Income Tax : Explore how tax policies influence business decisions, investment trends, and economic growth. Learn about tax reforms, incentives...
Income Tax : Understand how lottery winnings are taxed in India. Learn about tax rates, deductions, TDS, and strategies to manage tax burdens o...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
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 : ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Se...
Income Tax : ITAT Ahmedabad held that CIT(A) rightly restricted disallowance on account of unexplained bank deposit and withdrawal under sectio...
Income Tax : Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ...
Income Tax : It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked...
Income Tax : Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional conditions under Section 147.
ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not tenable in law. Accordingly, initiation of proceedings liable to be quashed.
Bombay High Court dismisses Shandilya Properties LLP’s petition challenging an income tax assessment order, directing them to exhaust statutory appeal remedies.
ITAT Ahmedabad held that once the unaccounted receipts from the sale of properties are subjected to taxation as part of the capital gains computation, the related unaccounted expenditures stand explained and cannot be taxed separately as unexplained expenses.
ITAT Chennai orders CIT(E) to reconsider Sri Ramajayam Educational Trust’s Form 10AB application, citing rejection on technical grounds and lack of opportunity for correction.
ITAT Pune held that approval of Principal Chief Commissioner of Income Tax [PCCIT] required for order passed under section 148A(d) of the Income Tax Act beyond three years from the end of assessment year.
Cooperative banks fall within definition of cooperative society under Section 2(19). ITAT concluded that assessee was entitled to deduction under Section 80P(2)(d).
Gujarat High Court quashes ITAT order in PCIT Vs Ashokji Thakor, restoring AO and CIT(A) decisions on unexplained investments due to non-cooperation by assessee.
Madras High Court dismisses Siva Industries’ appeal due to a 2139-day delay, citing lack of diligence and bonafide reasons. Key judicial precedents considered.
Assessee submitted share valuation report which was not as per rule 11UA but valuation of shares was done as per ‘Adjusted Net Asset Method and as per ‘future earning analysis.
