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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 : Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Win...
Income Tax : The Tribunal ruled that third-party WhatsApp messages and decoded chat entries lacked evidentiary value against the assessee witho...
Income Tax : The Tribunal ruled that technical lapses in e-verification cannot override a taxpayer's lawful entitlement to a refund. Once the d...
Income Tax : The Tribunal ruled that reopening proceedings cannot survive where the mandatory sanction under Section 151 is not obtained from t...
Income Tax : Delhi ITAT held that donations qualifying under Section 80G do not lose eligibility merely because they form part of Corporate Soc...
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...
Procedure in faceless assessment- The procedure for e-assessment is as below: NEC will issue notice under section 143(2) online by uploading the digitally signed copy on the registered income tax account or by sending notice to the assessee’s registered email address or uploading the copy on a mobile app. A real time alert will be sent through SMS or the mobile app.
Equalisation Levy was introduced via the Finance Act 2016 with effect from 1st June 2016. The EL was levied at 6% on consideration received or receivable by a non-resident for specified services from (i) any person resident in India carrying on business or profession in India or (ii) a non-resident having a PE in India.
Where individual pays any amount for medical treatment of disease for himself or his dependant being spouse, children, parents, brothers and sisters, than deduction up to Rs. 40,000/- from total income is allowed while calculating taxable income.
The Finance act, 2020, amended with section.194N with an intention of curb black money and track the persons those having huge cash withdrawal from bank and not filed their return of income as per the requirement under income tax act. Section.194N requires to TDS on some specified conditions and specified amount, the detailed implication of […]
In India, CBDT first time introduced the e-tds return by electronic filing of returns of Tax Deducted at Source Scheme, 2003 in the FY 2004-05. This was the time when Income-tax Department started to collect the assesses’ data in the digital form.
Arya Samaj Mandir Vs CIT (Exemption ) (ITAT Jaipur) From the facts of the present case, we noticed that the assessee had filed an application before the ld. CIT (Exemption) for seeking registration u/s 12AA of the Act. The assessee had also furnished the copy of MOA notorized by the Notary Officer, Bhilwara. However, the […]
The issue under consideration is whether the Assessment Order against non-existent entities will be considered as valid in law?
Prison, as a deterrent and an institution of correctional administration, is a key constituent of criminal justice system. Imprisonment besides being a mode of punishment also aims at protecting the society from criminal activities. A balance is, therefore, considered essential between ensuring the rights of inmates and protecting the society from further harm.
Arjuna,the faceless scheme aims to eliminate the human interference between the taxpayers and the Income Tax department. There are Regional Assessment Centres, which would consist of Four Major Units – Assessment unit, Verification Unit, Review Unit & Technical unit. All Actions of AU,VU, RU & TU Officers are approved by the respective range heads.Drafting of notices would happen in one city, review in another, & finalisation in third city, attaining the objective of fair & just order.
SFT return is mandatorily to be filed by all persons having bank transactions above Rs. 30 lakhs, all professionals and business having turnover above Rs 50 lakhs & payment of rent above Rs. 40,000.
