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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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
Section 206AB and 206CCA of The Income Tax Act will be effective from 01.07.2021. The provision requires deductor to make the TDS u/s 206AB and 206CCA if payment is made to specified person. The specified persons is defined the section, however it has become a very difficult task to determine who is a specified person […]
NEW TAX REGIME Finance Bill 2020, gives an opportunity to Individuals, HUF, Business owners, and/or Professionals for concessional rates of taxes for Financial Year 2020-21. However, this concession will be applicable with certain terms and conditions. Let’s first see the Concessional Tax Rates as follows – Annual Income in Financial Year 2020-21 New Income Tax […]
Get a comprehensive understanding of Sections 206AB & 206CCA of the Income Tax Act, 1961. Learn about the higher rates of TDS/TCS for non-filers of ITR.
Understand the requirements of 194Q and 206C(1H) of Income Tax Act, 1961. Learn how to comply with these rules to avoid penalties and ensure legal compliance.
How to Authenticate Notice/Order issued by Income Tax Department (ITD) FAQ Q.1 Why do I need to authenticate notice/order issued to me by Income Tax Authorities? Ans. Every communication by Income Tax department issued on or after 1st October, 2019 shall bear an unique Document Identification Number(DIN). In order to satisfy yourself that the notice/order […]
How to View Filed Forms on New Income Tax Portal – Faqs 1. Can I download my filed form? Yes. You can download the PDF version of the filed form from the e-Filing portal undere-File > Income Tax Forms > View Filed Forms. 2. Who can view filed forms? Anyone who is registered on the […]
Income Tax E-Proceedings FAQs Q.1 What is e-Proceedings? Ans. e-Proceedings is an electronic platform for conducting proceedings in an end to end manner using the e-Filing portal. Using this service, any registered user (or his Authorized Representative) can view and submit response to any notice / intimation / letter issued by the Income Tax Department. […]
How to Respond to Outstanding Income Tax Demand- Faqs 1. Why do I need to submit response to an outstanding demand? The Income Tax Department may find some Outstanding Tax demand against your PAN. In order to confirm if the stated demand is correct, an opportunity is given to you to respond. If you do […]
Extension of Income tax time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic- Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Act, for which the last date of filing under that Section is 1st June, 2021 or thereafter, may be filed within the time provided in that Section or by 31st August, 2021, whichever is later;
Ministry of Finance Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 Posted On: 25 JUN 2021 6:24PM by PIB Delhi A. Tax exemption Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses […]
