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Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
Income Tax : Krishna, as in March the end of the financial year approaches, many people start thinking about how to save more tax. After all, a...
Income Tax : Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments ...
Income Tax : Explore our analysis on including Company Secretaries as Accountants under the Income-Tax Bill 2025. Benefits include improved com...
Income Tax : While tax avoidance is legal and involves strategic tax planning, tax evasion is illegal and constitutes fraudulent activities to ...
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 : 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 : ITAT Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
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...
In this article we are going to discuss the judicial view to the provisions of section 241A inserted by Finance Act, 2017. However, prior to that, it would be prudent that due regards be given to the provisions prevailing prior to the Finance Act, 2017. 1. Legislative Background 2. Processing of Return prior to Finance […]
Jadhav Kangralkar Builders Vs ACIT (ITAT Pune) We find that there is no dispute regarding the business of assessee and earning Rs.200/- extra over and above regular income for selling 37,752 sq. ft. in Aayodhya Nagari project. From the day one i.e. from date of survey as discussed above, the assessee was contended the amount […]
Any gain or loss arising from transfer of Capital Asset shall be considered as a Capital Gain or Loss as the case may be. Section 45(1) of the Income Tax, 1961, is charging section and provides that- ‘Any profits or gains arising from the transfer of a capital asset effected in the previous year shall, […]
The issue under consideration is whether the indexed cost of acquisition can be reduced for the purpose of computing book profits under Section 115JB of the Act?
Central Board for Direct Taxes CBDT has come up with some changes in ITR Forms for AY 2020-21 like every year. Now taxpayers are requested to answer some more questions of high value transactions like deposits in current accounts more than 1 crore, electricity bills aggregating of more than 2 lakhs, etc., Changes in Form […]
BE-AWARE OF TRANSPARENT TAXATION & BEWARE OF TAX SCOPE Honourable Prime Minister Narendra Modi, on 13th August 2020, launched a platform for ‘Transparent Taxation’ for honoring the honest taxpayers. The platform brings in a transparent, efficient and accountable tax administration. It uses technology, Data Analytics and Artificial Intelligence. Through the platform, the government aims to […]
Introduction Finance Act 2020 introduced a new provision under Section 206C (1H) for the Tax Collected at Source (TCS) on Goods With effect from 1st of October 2020. As per the new provision if any seller of any goods whose turnover in the preceding FY exceeds Rs. 10 Crore then, from 1st of October 2020, […]
The global tax landscape is constantly evolving to keep pace with ever-changing business models and structures. Introduction of the Base Erosion and Profit Shifting (BEPS) project by OECD/G-20 in the year 2016 was one such significant international stepsince the advent of bilateral tax treaties, wherein more than 100 countries collaborated to block tax avoidance strategies that exploit gaps and mismatches in tax rules across jurisdictions.
The issue under consideration is whether the assessee being employee of Public Sector Undertaking (PSU) and Nationalised Banks treated as government employee for the purpose of exemption u/s (10AA)(i)?
The issue under consideration is whether the equalisation levy will be applicable in case of Mastercard Asia or not?
