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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...
Attention: ITR Due Date may not be extended, File ITR before 31/07/2022 to avoid Late fees of 1000/5000 as applicable under section 234F
CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23 also procedure for compulsory selection has also been provided in guidelines provided by CBDT.
A new section 194S had been introduced in this budget. Recently the Income tax Department has issued a circular regarding the same. What is Virtual Digital Asset (VDA) and what are the details in the circular?
The most recent amendments to the EL provisions represent a critical increment in the extent of the levy as it stretches out to non-resident e-commerce operators on e-commerce supply or services made or provided or facilitated by it, effective from April 1, 2020.
Understand the provisions of Section 115BAB for new manufacturing domestic companies. Explore tax rates, conditions, exceptions, and the option to opt for this section. Learn about the application process, eligibility criteria, and the timeline for exercising this option. Stay informed on the latest tax regulations for optimal financial planning.
Extend the due date of filing income tax return for all salaried & non-corporate tax payers (not subject to audit) to 31.08.2022.
Extension of Due date for filing of Income Tax Returns u/s.139(1) of Income Tax Act,1961 for non-Audit category of assesses from 31st July, 2022 to 31st August, 2022.
Navin Sirahmal Mukim Vs ITO (ITAT Pune) It is observed that the assessee allegedly purchased diamonds through the Hawala purchase bills and thereafter utilized the same in the manufacture of the jewellery. In such a situation, the entire amount of purchase bills does not requires addition but only the profit element because the diamonds must […]
Shesh Dhar Chaube Vs ITO (ITAT Delhi) AO alleged that assessee has not filed any declaration from the lorry owner with regard to the number of vehicles owned by them. In this regard sub-section (6) of Section 194C is relevant which provide for the condition as to providing such declaration from the lorry owners. It […]
Suminter India Organics Pvt. Ltd. Vs DCIT (ITAT Mumbai) ITAT held that When the overriding provisions of Taxation and Other Laws (Relaxations and Amendments of Certain Provisions) Act 2020 (TOLA) provide separate relaxations for the purpose of the legal obligations with respect to the filing of return vis-à-vis filing of other documents, to that extent, […]
