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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...
The President of India is pleased to appoint Ms. Sudha Sharma, Member, Central Board of Direct Taxes as Chairperson of the Ceuta” Board of Direct Taxes (CBDT) in the Department of Revenue, Ministry of Finance in the pay scale of Rs. 80,000/- (fixed) with the status of Special Secretary to the
Millions of taxpayers filing electronic I-T returns will soon get relief from sending by post the mandatory paper verification form (ITR V- Acknowledgement) as the CBDT has decided to soon stop this practice.
On the question whether an Assessee is entitled to adjust the actual cost of imported assets acquired in foreign currency on account of fluctuation in the rate of exchange at the time of making PAYMENT towards the whole or part of cost of the asset or towards repayment of whole or a part of the moneys borrowed by him from any person directly or indirectly, in any foreign currency specifically for the purpose of acquiring the asset along with interest, if any.
After considering the rival submissions and carefully gone through the affidavit filed by the assessee as well as the affidavit of Shri Sunil Hirawat, CA of the assessee, we note that the facts of the case do not suggest that the assessee has acted in a malafide manner
In order to attract the provisions of Section 41(1) of the Act, it is necessary that there should have been a cessation or remission of liability. As held by the Bombay High Court, in the case of J. K. Chemicals Ltd. (supra), cessation of liability may occur__ either by thereason of the liability becoming unenforceable in law by the creditor coupled with debtor declaring his intention not to honour his liability, or by a contract between parties or by discharge of the debt.
In pursuance of the changes made by the Finance Bill 2012 bringing specified domestic transactions under the ambit of Transfer Pricing Regulations, CBDT has amended the format of Form 3CEB vide notification number 41 dated 10 June 2013. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E.
Vide Order No. 106 of 2013 dated 14.06.2013, the CBDT has ordered the transfer & posting of several officers in the grade of Commissioner of Income-tax with immediate effect. Download the Order No. 106 of 2013 dated 14.06.2013
In fact, it is clarified that the definition of the word work will not include manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person other than such customer. However, this amendment came into force only with effect from 1st October, 2009, which will not apply to the period in question in the present case(s).
• As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). • Sec 194 IA of the Income Tax Act, 1961 states that for all transactions with effect from June 1, 2013, Tax @ […]
The Special Judge, CBI Cases, Pune (Maharashtra) has convicted Sh. Manish Nadkar, the then Income Tax Officer, Ward D-3, Pune for demanding & accepting a bribe of Rs. one lakh and sentenced him to undergo four years Rigorous Imprisonment with a fine of Rs.20,000/-.
