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Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
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 : The Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...
Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...
Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...
Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...
Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...
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...
Held that the assessee was not carrying on any share trading business, and it was the benami business of other assessee. Accordingly, denial of the claim of loss justified.
Rectification for Addition of Income under clause 16(d) of Tax Audit Report: Learn how to resolve issues related to reporting other income as per the tax audit requirements.
Sections 54 and 54F of Income tax Act, 1961 contain the provisions for claiming the deduction relating to long-term capital gains on the sale of house property and other capital assets and reinvestment while purchasing of residential house property.
Long-term capital gains (LTCG) made on the sale of equity shares, and equity funds were completely tax-free in your hands before March 2018. However, the amendment made in the Union Budget 2018 has changed the tax treatment of LTCG on sale of listed equity shares and equity funds.
Learn how to update your name on PAN Card easily. Follow these steps to make changes in your PAN Card online.
Understanding Section 234A, 234B & 234C of the Income Tax Act, 1961. Learn about advance tax payments and the importance of timely tax filing.
Understanding freelancing income and taxation: Learn about the unique aspects of freelancers’ earnings and how it affects their tax liability.
Article explains Clause 44 of Tax Income Tax Audit Report as applicable to Assessment Year in view of Recent ICAI Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 AY 2022-23. Clause 44 deals with Break-up of total expenditure of entities registered or not registered under GST.
Held that appeals against every decision of the ITAT shall lie only before the High Court within whose jurisdiction the Assessing Officer who passed the assessment order is situated. The principle remains the same even if the case of an assessee are transferred in exercise of power u/s 127.
Held that insurance company is not required to deduct TDS on interest on compensation till 01.06.2015. However, after 01.06.2015, TDS is deductible if interest exceeds Rs. 50,000 per claimant per financial year.
