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Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...
Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Mumbai held that as per circular no. 6 of 2016 dated 29th February 2016, it is clear that it is the assessee who decides whet...
Income Tax : Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an associ...
Income Tax : ITAT Mumbai held that the very basis of which the Assessing Officer formed the belief that the income liable to tax is escaped ass...
Income Tax : ITAT Pune rules mere execution of a development agreement without transfer of possession doesn't trigger capital gains tax. Follow...
Income Tax : Janata Grahak Madhyawarti Vs PCIT-4 (ITAT Pune) Facts of the Case: The assessee, a co-operative society involved in the business o...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
It has been submitted that taking out of the final negative of the films does not involve rendering of any technical or professional services. Therefore, TDS is required to be deducted u/s 194C.
Remuneration paid to six professionals engaged by the company was liable for deduction of tax at source u/s 192 as the same was in the nature of salary as against the claim of the assessee to deduct tax u/s 194J on these payments on the ground that these persons were acting in the capacity of independent professionals and not as employee of the company.
It is only when the assessee holds a lease right or other right of occupancy and any capital expenditure is incurred by the assesee on the construction of any structure or doing of any work in or in relation to and by way of renovation or extension of or improvement to the building and the expenditure on construction is incurred by the assessee, that assessee would be entitled to depreciation to the extent of any such expenditure incurred.
Payment of Scholarship by Charitable Trust for pursuing Engineering course from University of California, Los Angeles, USA in accordance with its objects is ‘Charitable Expenditure
Tomorrow is the festival of Gudi Padwa i.e start of New Year. And it’s the last week of financial year 2017. New financial year will be starting from 1st April. According to budget, what are the changes made in income tax which will be applicable from new financial year and which will increase the prosperity of tax payers?
Advocate Akhilesh Kumar Sah Just because the assessee has not filed income tax returns in earlier years, it can not be said that the activities of the assessee of the charitable trust / society were not genuine and grant of the registration under section 12AA cannot be denied
Central Government hereby specifies Addl. DGP, Economic Offences Wing & Anti Corruption Bureau, Government of Chhattisgarh for purposes of Section 138(1)(a)(ii)
ITAT followed Delhi High Court in Cheminvest and held that, unless during the relevant previous year, assessee earns any exempt income no disallowance under section 14A r/w rule 8D can be made.
In CBDT circular no.16 of 6th October 2015, the Board has clearly stated that cost incurred in abandoned projects should be allowed as revenue expenditure under section 37 of the Act.
This appeal has been filed by the assessee against the order of the Commissioner of Income-tax (Appeals)-32 [hereinafter called CIT(A)]02-0-2015 passed against the assessment order of the AO u/s 143(3) dated 23-12-2013 for A.Y. 201-12 on the following grounds
