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Income Tax : Learn how YouTube & Instagram earnings are taxed in India. Understand income tax slabs, TDS, GST rules, deductions, and compliance...
Income Tax : This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indi...
Income Tax : INTRODUCTION There are a few popular beliefs in India that agricultural income is completely exempt from tax. While this holds som...
Income Tax : Explore how tax policies influence business decisions, investment trends, and economic growth. Learn about tax reforms, incentives...
Income Tax : Understand how lottery winnings are taxed in India. Learn about tax rates, deductions, TDS, and strategies to manage tax burdens o...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Se...
Income Tax : ITAT Ahmedabad held that CIT(A) rightly restricted disallowance on account of unexplained bank deposit and withdrawal under sectio...
Income Tax : Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ...
Income Tax : It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked...
Income Tax : Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
ITAT Ahmedabad ruled that mere suspicion cannot justify tax additions, deleting an Rs. 18 lakh addition in a property investment dispute.
Karnataka High Court held that TDS is not deductible on payment to non-residents for advertisements in several social medias like Facebook, Amazon Web Services and Rocket Science Group. Accordingly, appeals are dismissed.
ITAT Mumbai removes addition in Kamal Clearing & Forwarding case, ruling that income was already declared and no evidence of money laundering was found.
ITAT Lucknow held that cash deposits out of the past savings during demonetization being reasonable and as per social standing of the assessee is justifiable. Accordingly, appeal of the assessee allowed and addition is directed to be deleted.
ITAT Bangalore held that delay in cash deposits, during demonetization, due to unforeseen circumstances like laxmi pooja and staff vacations post deepavali doesn’t imply fabricated income or an afterthought explanation. Hence, addition liable to be deleted.
ITAT Kolkata held that mere non-production of director cannot be the ground for making any addition in the hands of assessee under section 68 of the Income Tax Act. Accordingly, appeal of the revenue dismissed.
ITAT Ahmedabad sets aside assessment order on demonetization cash deposits, citing natural justice violations. Case remanded for fresh adjudication.
ITAT Ahmedabad condones delay in appeal and remands case to CIT(A) for fresh adjudication in Lahar Joshi vs. ITO. Fair hearing and natural justice emphasized.
CPC Erred in Denying Loss Carry-Forward by taking wrong due date for company entitled to extended due date under Section 92E of Income Tax Act due to international transactions: ITAT Ahmedabad
The faceless tax assessment scheme in India faces legal disputes over jurisdiction between JAO and FAO. Learn about key court rulings and ongoing debates.
