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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
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 : 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 dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistaken...
Income Tax : The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...
Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...
Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...
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...
Income-tax Department has introduced a completely new re-engineered Form 15CA and Form 15CB submission process based on various feedbacks provided by numerous corporates and professionals all over India. These transformations will simplify the preparation, assignment, submission, and verification process involved in the entire filing cycle of the Form. The major key transformations are: (a) Taxpayers […]
Section 44AE(3)] The assessee will be deemed to have been allowed the deductions under sections 30 to 38. Accordingly, the written down value of any asset used for the purpose of the business of the assessee will be deemed to have been calculated as if the assessee had claimed and had actually been allowed the deduction in .
Section 143(1)(a) of the Act provides that where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed after making specific adjustments as mentioned under clauses (i) to (v) of 143(1)(a) to the compute of the total income or loss. An adjustment shall be made only after giving intimation and providing an opportunity to the assessee to respond within thirty days of issue of such intimation.
असीम संभावनाओं से भरा आयकर पोर्टल के धीमा चलने के कारण निम्नलिखित समस्याएं तेजी से बढ़ रही है: 1. विवरणी दाखिल करने में काफी समय लग रहा है. 2. पोर्टल पर लॉगिन की समस्या बनी हुई है. 3. कुछ रिटर्न जमा हो रहे हैं तो कुछ की रिटर्न भरने के बाद भी पोर्टल पर दिखाई […]
Parexel International Clinical Research Private Limited Vs DCIT (ITAT Bangalore) In this case, the assessee coordinated between the individual investigator and Paraxel International GmbH Germany. The contention of the assessee is that assessee has not undertaken any risk and all risk was taken over by Paraxel International GmbH Germany and relied on the Addendum dated […]
CIT Vs. Mohammed Meeran Shahul Hameed (Supreme Court) The short question of law which is posed for consideration before this court is, 1. whether in the facts and circumstances of the case, the High Court and the learned ITAT are right in holding that the order passed by the learned Commissioner passed under Section 263 […]
CBIC notifies Rate of Exchange of Foreign Currencies against Indian Rupees with effect from 8th October, 2021, vide Notification No. 80/2021-Customs (N.T.) | Dated: 7th October, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ***** Notification No. 80/2021 – Customs (N.T.) New Delhi, dated the 7th […]
ITAT, Bengaluru Bench in the case of Smt. Nethravathi, Bengaluru vs ITO in ITA No.2630/Bang/2017 order dated 25.04.2018 wherein this Tribunal took the view that multiple flats obtained under JDA would be entitled to deduction under section 54F of the Act.
Request for clarification and rationalization of provisions of TCS on sale of overseas tour package: a letter to the Finance Minister and Revenue Secretary.
With the amendment in Finance Act, 2020 section 194N was amended by substituting 83A which imposes 2% TDS on withdrawal of sum exceeding Rs. 1 crore. This section has came into effect from 1 st July 2020. Every person including – (i) Individuals (ii) HUF (iii) Company (iv) Partnership firms or LLP (v) Local authorities […]
