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Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...
Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...
Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : Advocate Amardeep Soni & Advocate Harsha Soni Gemplus India Pvt. Ltd. Vs ACIT (ITAT Bangalore) A Case Study of ITAT BANGALORE...
Income Tax : Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services Ind...
Income Tax : ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO,...
Income Tax : ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for un...
Income Tax : ITAT Cochin remands Thrissur Co-op Society’s demonetization cash deposit case to CIT(A) for a fresh decision on merits after ex-...
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...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
CIT Vs Alpha G. Corp Development Ltd. (Delhi high Court) High Court held that strategic investments have to be considered for disallowance under Section 14A but assessee is entitled to contend that the investments are legacy Investments or one-time investment and that there is in fact no expenditure incurred to earn the tax-free income. FULL […]
CIT Vs Maheshchandra G Vakil (Gujarat High Court) HC held that Where assessee proved genuineness of share transactions by contract notes for sale and purchase, bank statement of broker, demat account showing transfer in and out of shares, as also abstract of transactions furnished by stock exchange, Assessing Officer was not justified in treating capital […]
Brief Steps to check Total Outstanding Demand Step 1. Login on Traces website as deductor. Step 2. Click on ‘Dashboard‘. Step 3. After clicking on ‘Dashboard‘. There is a tab of ‘Total Outstanding Demand‘. Step 4. Click on ‘Total Outstanding Demand‘ demand table will appear on the screen, – User can click on ‘Prior year’ […]
Article contains Important Information for Online TDS/TCS/Demand Payment With Challan ITNS 281, Brief steps for ‘Online TDS/TCS/Demand Payment With Challan ITNS 281’ and Pictorial Guide for ‘Online TDS/TCS/Demand Payment With Challan ITNS 281’. 1. Important Information for “Online TDS/TCS/Demand Payment With Challan ITNS 281”. Challan No. ITNS 281 is used by the Deductors to deposit […]
Recent Changes in Form 24Q – Annexure II & Form 16 – Part B A. Need of the hour – Brief about the change THE REVISED ANNEXTURE II will lead to: > Availability of complete detailed breakup of Income, various tax deductions & exemptions claimed > Pre filling of ITRs > Check on false claims […]
Article contains Important Information for 26QB- Justification Report, Brief Steps for 26QB- Justification Report and Pictorial guide for 26QB- Justification Report. 1. Important Information for “26QB- Justification Report”. Only Buyer registered on “TRACES” can submit request for Justification Report. Request for Downloading Justification Report can only be submitted when 26QB Statement Cum Challan will be […]
Digital Signature Registration on TRACES Steps of Installation of Install Digital Signature certificate PFX file/Hard Token 1. Requirement for usage of Digital signature certificate : Valid Digital Signature should be obtained from Third Party Vendor. Only class 2 or class 3 digital Signature certificates taxguru.in are allowed for the purpose of registration on TRACES. TRACES […]
It is very common that people use to purchase the house property (like flat, building etc) in joint name to ensure proper funding for the same and sometime for smooth succession thereof (e.g Generally husband and wife use to purchase property in joint name so that in case of death of any of the person […]
To take Indian economy to 1 trillion dollar exports in goods, and 1 trillion dollar exports in services in the next five years, the Commerce Minister reiterated the importance of availability of credit at low rate of interest. He emphasised that it is the joint responsibility of banks and Government to ensure that export credit at competitive rates are available to businesses.
B. Kannabiran Vs ACIT (ITAT Chennai) Tahsildar, being the head of the revenue unit of the Taluk, issued certificate saying that the land in question is beyond 9 KMs radius from Tambaram municipality. This certificate issued by the Tahsildar was rejected by the CIT(Appeals) on the basis of bus route. The details with regard to […]
