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Income Tax : जानें क्यों आयकर विभाग ने केपिटल गेन पर अतिरिक्त �...
Income Tax : Learn how to maximize tax deductions with Section 80G for donations to approved funds and institutions. Find out eligibility, paym...
Income Tax : The Karnataka High Court ruled that the BCI Chairman lacks authority to issue gag orders restricting advocates’ speech, quashing...
Income Tax : Section 80E of the Income Tax Act provides deduction towards interest paid on loan taken for higher education. The current article...
Income Tax : Explore how Section 170 of Income Tax Act applies to post-amalgamation assessments, with key judicial decisions and implications f...
Income Tax : Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to t...
Income Tax : ICAI requests CBDT to allow rebate u/s 87A on short-term and long-term capital gains under Sections 111A and 112, citing inconsist...
Income Tax : CBDT forms a committee to review the Income-tax Act and invites public suggestions on simplification and compliance via the e-fili...
Income Tax : Supreme Court disposes of 573 direct tax cases due to increased appeal limits from the Union Budget 2024-25, reducing tax litigati...
Income Tax : Join our webinar on TDS amendments from Budget 2024 and learn their impact on tax audits, filing procedures, and compliance....
Income Tax : Delhi High Court upholds ITAT ruling in PCIT vs Global Logic India Ltd., addressing deferred payments and international transactio...
Income Tax : Calcutta HC upholds ITAT's dismissal of revenue's appeal, affirming assessment order under Section 153 as invalid due to delayed s...
Income Tax : Calcutta HC stays Section 148 assessment order due to jurisdictional error in Rahul Saraf vs. ACIT. Case pending further orders....
Income Tax : Himachal Pradesh HC stays Section 148 notice, citing lack of jurisdiction under Section 151A of the Income Tax Act, 1961, and impr...
Income Tax : Allahabad HC directs TPO to review interest on delayed receivables from AE, affirming that working capital adjustments subsume suc...
Income Tax : Income Tax Department seeks stakeholder feedback on Project IEC 3.0, aiming to enhance the e-filing platform and Centralized Proce...
Income Tax : SOP for investigating high-risk refund cases for AY 2024-25. Clusters of suspicious ITRs identified and disseminated for verificat...
Income Tax : Insight Instruction No. 8 guides Assessing Officers in verifying high-risk refund ITRs for AY 2024-25, detailing steps for verific...
Income Tax : Insight Instruction No. 43 addresses verification of high-risk refund cases for AY 2024-25. TDS officers to assess and submit feed...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
It has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions.
This Article explains how to save tax in a private limited company. It explains various legally permissible ways in which you end up saving a lot of income tax. Company is an artificial person created by law. it is clothed with many rights, obligations, powers and duties prescribed by law. What is a Private limited […]
e-Assessment – Electronic assessment, also known as e-assessment, online assessment, computer assisted/mediated assessment and computer-based assessment, is the use of information technology in various forms of assessment. Electronic assessment under Income Tax have certain Advantages and Disadvantages. Advantages of Electronic assessment under Income Tax includes Faceless assessment reduces chances of corruption, Saves time and efforts, […]
The Income Tax department has notified the Income tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. Here’s a list of the 6 key changes introduced in the ITR1 for financial year 2019-20. ♦ Passport details In this year’s ITR-1, taxpayers will have to provide their passport number (if they have one). This […]
The income tax department in its grapple to make GST regime an ideal tax mechanism has launched many reforms like single indirect tax mechanism, completely faceless/digital tax compliance, simple TDS deduction system, and a lot more. Apart from that, if any inconvenience in tax compliance is witnessed by the government then due dates for the […]
The Central Board of Direct Taxes (CBDT) has recently notified two Income Tax Return (ITR) forms for the assessment year 2020-21. Usually, the tax department issues new ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old tradition, it has notified two ITR forms ITR-1 and […]
CIT Vs Endeka Ceramics (India) Pvt. Ltd. (Karnataka High Court) Admittedly in the instant case, the industrial undertaking of the appellant-assessee is not located in the Industrial Backward District, which has been mentioned in the Notification issued by the Central Government. It is pertinent to note here that the first Notification was issued by the […]
During the past year 2019, CPC (TDS) released a host of useful utilities at TRACES, including the following- 1. DIN Verification Functionality on TRACES Homepage wherein taxpayer can verify communication received from the department. 2. Aadhar based authentication in CPC (TDS) as additional authentication mode for TRACES users. 3. Form 16 – Part B generation […]
Stay updated with the latest income tax changes for December 2019. Learn about Form No. 10DA and claiming deductions under section 80JJAA.
Mr Chaudhury has just sold his old ancestral house for a lump sum consideration of Rs. 20,00,000. He has now set his eyes on a new apartment which is due for possession within the next two years. Mr. Chaudhury is in a dilemma, he is aware that the amount he has received is a Capital Gain in his hands and is liable to tax. His intention is to use this fund towards paying for his new abode. What are his options?
