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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...
ITAT Ahmedabad held that payment of interest towards compromise agreement was not made towards any infraction of law and therefore, the same is allowable under section 37 of the Income Tax Act.
ITAT Ahmedabad held that disallowance of sales commission expenses justified as there was no basis and reason for paying the commission to these agents who even otherwise were closely related to the assesse.
ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act.
ITAT Delhi held that the interest awarded under Land Acquisition Act is not taxable, accordingly, tax on the same cannot be demanded by way of invoking jurisdiction u/s 263 of the Income Tax Act.
ITAT Ahmedabad held that book profit under section 115JB of the Income Tax Act cannot be computed by including disallowances made under section 14A of the Income Tax Act.
Capital gain tax is a tax levied by the government on the profit earned from the sale or transfer of a capital asset. A capital asset refers to any property or asset that is owned by an individual or business, such as real estate, stocks, bonds, mutual funds, and so on.
Income Tax Return (ITR) is an important document that reflects an individual’s income, taxes paid, and other financial information. Many banks and financial institutions require ITR documents to process and approve loans. This is because ITR documents provide an assurance to lenders that the individual has a regular and stable income and is capable of repaying the loan.
Welcome to our guide on income tax allowances and deductions in India. As taxpayers, it is essential to understand the various allowances and deductions available to us, as they can significantly reduce our tax liability. In this article, we will cover all the necessary details about income tax allowances and deductions, so you can make informed decisions while filing your tax returns.
Discover when the Income Tax Return (ITR) filing for Assessment Year 2023-24 will commence. Mark your calendar and stay updated on the official website for the exact start date. Filing ITR is crucial for avoiding penalties, claiming refunds, creating financial records, and more.
Shrijit Arvindrao Pawar Vs ITO (ITAT Pune) rom mere reading of the assessment order, it would reveal that the Assessing Officer had not given reasonable opportunity to the appellant. The Assessing Officer issued notice u/s 143(2) on 18.11.2019, which was served on the appellant on 21.11.2019. The appellant also filed copy of the record of the […]
