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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 Delhi held that provisions of section 292BB of the Income tax Act doesn’t cure complete absence of notice. Section seeks to cure only the manner of service of notice.
ITAT Visakhapatnam held that rent received from sub-letting the property is taxable under the head ‘income from other sources’ and not under the head ‘income from house property’.
Meaning of commercial purpose under Consumer Protection Act for reimbursement of claim on account of fire at Godown of a commercial enterprise
JCIT (OSD) Vs Yashmaan Pathak (ITAT Mumabi) No scope of adhoc or estimated addition u/s. 41(1) & the entire conditions precedent for invoking section 41(1) has to be fulfilled. Assessee has filed his return of income and the AO during scrutiny issued show cause notice to the assessee to file details and confirmation of the […]
Discover what an Income Tax Return (ITR) is, why it’s mandatory, and the benefits of filing it. Learn about compliance, claiming refunds, financial transactions, and more.
“Unlock top tax-saving tips in India, from HRA and home loan deductions to Section 80C benefits. Explore ways to reduce your taxable income and maximize savings.” “Unlock top tax-saving tips in India, from HRA and home loan deductions to Section 80C benefits. Explore ways to reduce your taxable income and maximize savings.” Unlock top tax-saving tips in India, from HRA and home loan deductions to Section 80C benefits. Explore ways to reduce your taxable income and maximize savings.
Advocate for the extension of Section 54F benefits to joint ownership with spouses and joint home loans. Explore a case study where exemption is denied, understand the issues, and review relevant case laws. Encourage joint property ownership for socio-economic empowerment. Call for clarity from the tax authorities to prevent litigations and provide relief to taxpayers facing genuine hardships under beneficial provisions like Section 54F.
Stay informed on key Income Tax amendments for A.Y. 2023-24 (F.Y. 2022-23). Explore changes in deductions, thresholds, and relaxations. Ensure compliance with the latest Finance Act, 2023. Contact us for expert assistance.
April Deadline Navigate the choice between new and old income tax regimes for the financial year 2023-24. Understand changes, exemptions, and plan your tax strategy wisely. Expert insights from a Chartered Accountant with two decades of experience. Source: Finance Act 2023-24, Tax Planning, Indian Income Tax Rules.
NRI taxation under the Indian Income Tax Act, of 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians.
