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Income Tax : Explore Section 80JJAA of Income Tax Act, encouraging job creation in India. Learn about conditions, deductions, and benefits for ...
Income Tax : Explore the Bombay High Court's ruling on the invalidity of a reassessment notice under Section 148 of the Income-tax Act, 1961, f...
Income Tax : Learn about the consequences of filing your ITR incorrectly and claiming a full refund. Understand Section 133(6) of the Income Ta...
Income Tax : Get answers to FAQs on the new vs. old tax regime for AY 2024-25. Learn about the differences, benefits, and how to choose the bes...
Income Tax : Discover how AI is transforming tax compliance standards, automating tasks, detecting fraud, and enhancing efficiency. Learn about...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Release of File Validation Utilities (FVUs) and Return Preparation Utility for e-TDS/TCS Statements File Validation Utility (FVU)...
Income Tax : Discover the comprehensive list of 26 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated b...
Income Tax : Explore issues & solutions for appeals to Income Tax Commissioner. Detailed representation by Karnataka State Chartered Accountant...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
Income Tax : Explore the detailed analysis of the ITAT Bangalore decision in Goworamma Lingappa Manjula Vs ITO. Understand the implications and...
Income Tax : Explore the ITAT Bangalore's decision in Lakshmi Multipurpose Co-operative Vs ITO regarding income threshold limits under Section ...
Income Tax : Delhi HC: No penalty for New Holland Tractors if assessee's contention was plausible and bona fide, provided full disclosure of fa...
Income Tax : Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cau...
Income Tax : Learn how ITAT Bangalore ruled in favor of Herbalife India on technical service payments, clarifying FTS under India-USA DTAA. Det...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
Income Tax : CBDT issued Notification No. 01/024-25-Income Tax dated 24th June 2024, specifying Form 3CN, Form 3CS, Form 3CEC, Form 3CEFB, Form...
Income Tax : Discover the impact of Notification No. 51/2024-Income Tax by the Ministry of Finance on the Kerala Co-operative Deposit Guarantee...
Income Tax : Explore suggestions from trade associations for Budget 2024-25 on changes in direct and indirect taxes. Submit proposals for tax s...
CA Umesh Sharma Arjuna (Fictional Character): Krishna, The tours across the world of Modiji after becoming the Prime Minister of India has become the topic of discussion for everyone. He invited Non Resident Indians to make financial investment in India through “Make in India” scheme. But who are these Non Resident Indians (NRI), what is […]
We are glad to inform that the Online Correction functionality provided by CPC (TDS) has been availed by a large number of deductors for the purpose of carrying out corrections and over 2 Lakh Online Corrections have been submitted. The corrections include resolution of Short Payment Defaults that relate with unmatched challans.
As per the records of the Centralized Processing Cell (TDS), there is an outstanding demand in different years from 2007-08 onwards on account of defaults identified in TDS statements. Table below shows year wise outstanding demand on account TDS defaults as on October 23rd 2014.
The Departments public outreach on the Taxpayers Services wins laurels! The Taxpayers’ Lounge set up by the Directorate of Income Tax (PRPP&OL) was awarded ‘Silver’ medal for excellence in display in the category of Ministries and Departments in the 34th India International Trade Fair, 2014 in the award ceremony held on 27th November 2014. The […]
B.Ramana Kumar, M.Com., LLB, FCA, Advocate Hitherto, the export commissions paid to foreign agents were never in question of taxation in India. This was fortified by Circular No.23 dated 23 July 1969 which stated that where a foreign agent of India exporters operates in his own country and his commission is usually remitted directly to […]
The assessment proceedings are not public proceedings where all and sundry are allowed to participate and add their opinion to the proceedings. Merely because a spirited citizen wishes to assist in assessment proceedings, the same cannot be stated to be in larger public interest.
It has come to the notice of the Board that due to recent devastation caused by the floods in the State of Jammu & Kashmir, the income-tax assessees of that State are facing difficulties in ensuring compliance either with the requirements under ongoing scrutiny assessment proceedings or with respect to notices u/s 143(2) of the Income Tax Act, 1961 (‘Act’) issued recently.
PRESS NOTE Setting Up Of High Level Committee To Interact With Trade And Industry On Tax Law In his Budget Speech 2014-1 5, Finance Minister had announced the setting up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required. Accordingly, a High Level […]
Hitherto, the Lawyers/Advocates are attached to civil courts and are practicing Law before the Judges in Courts of Law by presenting, representing or pleading on behalf of their clients/cases. Henceforth, if Lawyers & Advocates (Graduates in Laws) are alone entitled to practice even in Taxation Field (Income Tax, Service Tax, Custom & Central Excise, Sales Tax (VAT), etc.),
Whereas the Judgment of the Hon’ble ITAT, Agra Bench in ITA No.133/Agra/2013 dated 09-07-2013 in which it has been emphasized that ,none will be entitled for appearing / attending / practicing before the Income Tax Authorities without Registering as an Income Tax Practitioner with the CIT
