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Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
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 : 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 : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...
Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...
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...
Explore the stringent provisions in the Income Tax Act, 1961, aimed at curbing cash transactions in India. Learn about limits, penalties, and the governments push towards a cashless economy. Stay informed to avoid penalties and ensure compliance. Contact us for detailed insights and assistance.
Deciphering the amendments to Section 56(2)(viib) & Rule 11UA(2) of the Income Tax Act post-Finance Bill 2023, impacting FDI and startup ecosystems. Explore the key provisions and valuation methodologies for unquoted equity shares received from residents and non-residents. Stay informed about the impact on closely held companies and exemptions for startups.
Explore the crucial points to verify during a tax audit in India, covering areas like books of accounts, TDS, compliance, transfer pricing, and more. Ensure comprehensive tax compliance.
ITAT Delhi held that loss claimed arising out of the sham transaction between two associated enterprises (AE) is disallowed.
ITAT Patna held that as assessee duly complied with the requirement of maintaining the records of the donors in the form of their names and addresses the same cannot be held as anonymous donations and accordingly provisions of section 115BBC of the Income Tax Act are not attracted.
ITAT Pune held that as enhanced cost of acquisition not substantiated with cogent evidence, the same is not allowable as cost of acquisition of transferred assets.
Understand Income Taxes (Ind AS 12, IAS 12) with changes as per Companies (Indian Accounting Standards) Amendment Rules 2023. Learn about accounting treatment, objectives, scope, and adjustments for differences between financial statements and tax laws. Stay informed about the latest amendments and updates.
This article aims to provide a comprehensive overview of the Excel utility of ITR-3, its features, and how taxpayers can use it to file their returns for the Financial Year 2022-23.
Learn how to file ITR 4 online for small businesses and professionals. Follow this step-by-step guide for seamless tax compliance under the presumptive taxation scheme.
ITAT Delhi held that there is no transfer of assets in case of the shifting of plant & machinery from fixed assets to current assets. Accordingly, there is no question of determination of capital gain.
