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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...
ALLAHABAD High Court Rejects Revenue’s denial of Sec 80G(5) recognition on the ground that the assessee-trust did not commence one of the activities mentioned in object clause- The fact that the assessee was still to commence the activity of establishing a hospital for imparting medical treatment would not by itself result in the rejection of the claim for recognition.
Vacancy Circular D.O.F. No.A-12026/6/2013-Ad.I Selection to the post of Income Tax Ombudsman is to be made for some locations which are likely to fall vacant during the period from 1st October, 2013 to 31st March, 2014.
Section 43B which permits a deduction for payments made upto the due date for filing the ROI applies only to the employer’s contribution to the provident fund etc. It does not apply to the employees’ contribution.
CBDT has examined the matter afresh and clarified vide Circular No. 1/2014 dated 13-1-2014 (Produced Below) -“TDS under Chapter XVII-B of the Income-tax Act, 1961 on service tax component comprised of payments made to residents” that wherever in terms of the agreement/contract
Change in method of accounting was bona fide and with the compliance of the Accounting Standard – AS 9 – Revenue Recognition issued by the Institute of Chartered Accountants of India and provisions of S.5 of the Act.
Facts in brief as emerged from the corresponding assessment order passed u/s. 143(3), dated 1.12.2009 were that the assessee is a trust and during the year disclosed a capital gain of Rs.87,29,080/-. It was informed that the assessee had invested a sum of Rs. 1,12,00,000/- in Rural
Change is what has bought us to the juncture and change is what it will take to usher in a new future as we contemplate way to address the challenges. Many changes have focused on bringing in greater clarity while others have expanded the scope of its operations. Indian Transfer Pricing ambit has been changed with introduction of Safe Harbour Rules (SHR), Advance Pricing Agreements (APA) & Dispute Resolution Panel (DRP).
Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal of financial stability and financial inclusion.
A new system of taxation is proposed by a Pune based research group Arthkranti Pratishthan where it has 5 components in its proposal: Withdrawal of existing Taxation system completely (except Customs i.e. Import Duty) Every Transaction routed through a bank will attract certain deductions in appropriate percentage as Transaction Tax i.e. Single point tax deducted […]
Notification No. 4/2014-Income Tax In exercise of the powers conferred by clause (46) of Section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Orissa State AIDS Control Society, a body constituted by the Government of Orissa in respect of the following specified income arising to that Society
