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Income Tax : Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal ch...
Income Tax : Explore the Principal Purpose Test (PPT) in international tax law, its impact on treaty benefits, legal uncertainty, and potential...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Income tax updates effective 1st April 2025 include higher TDS thresholds, extended startup benefits, increased rebates, and simpl...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds...
Income Tax : ITAT Jaipur held that assessee just needs to establish that the amount has come from the bank account of the cash-creditors. Asses...
Income Tax : ITAT Kolkata held that issuance of notice under section 143(2) of the Income Tax Act by non-jurisdictional Assessing Officer rende...
Income Tax : Gujarat High Court held that refund entitled to assessee on the basis of order passed by CIT(A) cannot be unjustifiably adjusted a...
Income Tax : Bombay High Court dismisses revenue's appeal in PCIT Vs Umesh Ishrani case, citing lack of corroboration for loose paper evidence ...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Set off of loss from one source against income from another source under the same head of income/inter- source set-off under the same head of income Any loss in respect of one source shall be set-off against income from other source under the same head of income. But, there are some exception to this.
According to the new, rule of SEBI ,any NRI not having PAN card cannot do the share trading by depository or broker.
Earlier to Finance Act 2017, section 10(38) of Income Tax Act provided opportunity to tax-evaders. It provided the exemption of tax on the capital gains arising on sale of equity shares after one year of its acquisition, if transaction was chargeable to securities transaction tax (STT).
So, this is It? Checklist to Choose your Best Health Insurance Policy:- 1. Hospital Room Rent Eligibility, 2. Co Payment and Sub Limits for diseases (if any), 3. Waiting Period for Pre Existing Disease, 4. Waiting period for few specific diseases like Cataract, Hernia etc, 5. Cover Amount and Premium charged as compared to other players with same features, 6. Pre Hospitalisation and Post Hospitalisation Coverage,
Mere participation in proceedings or acquiescence would not confer jurisdiction upon AO who otherwise was not the AO of assessee, therefore, notice issued under section 148 was quashed and since reopening was quashed, subsequent orders passed on account of such reopening were also quashed.
Making of wrong claim due to inadvertent clerical error committed by Chartered Accountant could not be classified as furnishing of inaccurate particulars so as to levy penalty under section 271(1)(c) when assessee had voluntarily filed revised computation and AO had completed assessment on the basis of details furnished by assessee.
Updated Em-signer utility is available for download. Existing utility will stop working w.e.f. March,19, 2023. Users need to uninstall existing Em-signer utility and download updated version using Web signer setup V 2.0 link available under ‘Download’ Tab at the login of user at TRACES website. You might be facing issues with the Emsigner on TRACES, […]
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act along with the Frequently Asked Question.
Vidya Bharati Society for Education & Scientific Advancement Vs ACIT (ITAT Kolkata) Merely because the contributions from students were collected under the nomenclature of development fee cannot ipso facto lead to conclusion that it cannot be considered to be corpus contribution. It is true that in terms of section 12(1) read with section 11(1)(d) of […]
The Estate Vs ACIT (Karnataka High Court) In the given case the appellant is a partnership firm which is engaged in the business of real estate development, construction and sale of flats under the name and style of ‘The Estate’. The appellant filed its original return of income declaring its total income of Rs. 95,04,431/- […]
