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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...
Need for early amendment of DTAA regulations to stop the double taxation of Indian IT firms: Ms. Anupriya Patel tells the visiting Deputy Premier of Western Australia Both sides acknowledge the need for an early ratification of Ind-Aus ECTA Australia to look into visa related issues of Indian students and tourists Minister of State (MoS) […]
Unlock the intricacies of income computation for non-profit trusts under the Finance Act 2022. Delve into the conditions, deductions, and guidelines to comprehend tax implications.
Unravel the complexities of Cash Payments under sections 40A(3) and 43(1) of the Income Tax Act, 1961. Dive into the implications of exceeding Rs.10,000 cash payments for revenue expenditures and acquisition of fixed assets. Understand the nuances of disallowance and actual cost determination. Explore real-life examples to grasp the intricate interpretations.
Ease your Income Tax E-Filing with step-by-step guidance. Understand ITR basics, importance, and who needs to file. Get ready with documents, view AIS, and download Form 26AS. Register on the portal, validate, verify, and e-file effortlessly.
Request for Extension of Due date for filing of Income Tax Returns for Non-Audit category of assesses from 31 July 2022 to 31 August 2022
Court is convinced that there has been violation of principles of natural justice inasmuch as the appellant was not furnished with full information based on which the assessment was sought to be reopened.
Explore the distinctions between financial planning and retirement planning, delving into instruments like NPS, PPF, EPF, APY, bank deposits, fixed deposits, and real estate. Learn how to secure a financially independent and comfortable life post-retirement.
Unravel the confusion between Income Tax and TDS with a comprehensive guide. Understand how TDS (Tax Deducted at Source) functions, its periodic deductions, and its role in the broader spectrum of Income Tax. Explore real-life examples to grasp the nuances and ensure compliance. Gain clarity on Total Tax Liability and how TDS contributes to managing your tax responsibilities.
CIT Vs Bangalore Metro Rail Corporation Ltd. (Karnataka High Court) Specific case of the Revenue before the ITAT is that the Contract is a composite one. Shri. Chaitanya is right in his submission that the dominant purpose of the Contract is supply of the passenger rolling stock. Thus, having taken a specific stand before the […]
Seema Gupta Vs ITO (Delhi High Court) Present writ petition has been filed challenging the order dated 30th June, 2022 passed under Section 148A(d) of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’) and the consequential notice dated 30th June, 2022 issued under Section 148 of the Act for the Assessment Year […]
