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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 : 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 Tribunal ruled that addition of the entire amount of bogus purchases as unexplained expenditure was unwarranted in the facts o...
Income Tax : Delhi ITAT ruled that delayed deposit of employees' PF/ESI contributions attracts disallowance under Section 36(1)(va). The decisi...
Income Tax : The ITAT held that an assessee can contest a Section 143(1) adjustment in an appeal against the assessment order if the adjustment...
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...
I-Exceed Technology Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) The provisions of Rule 11UA(2)(b) of the Rules provides that, the Assessee can adopt the fair market value as per the above two methods and the choice of method is that of the Assessee. The Tribunal has followed the judgment of Hon’ble Bombay High Court rendered […]
whether the tribunal was right in coming to the conclusion that the Assessing Officer has not recorded his mandatory satisfaction as required under Section 14A(2) of the Act?
whether the non-filing of prescribed Form No.62 for the third Assessment Year is restrict the Assessee to carry forward losses under Section 72A of the Income TaxAct, 1961?
Whether upward adjustment to book profit under section 115JB of the Act, by treating the loss on purchase and redemption of mutual funds as expenditure relatable to earning exempt income is justified in law?
ITO Vs Ajmer Vidhyut Vitran Nigam Ltd (ITAT Jaipur) Exception 10(e) to the aforesaid CBDT Circular relates to cases where addition is based on information received from external sources in the nature of law enforcement agencies such as CBI/ ED/ DRI/ SFIO/ Directorate General of GST Intelligence (DGGI). In the instant case, the assessee has […]
The CBDT has carried out several major tax reforms in direct taxes in the recent years, which includes the following: (i) Reduction in corporate tax to 22% from 30% for existing companies and 15% for new manufacturing units. (ii) Abolition of dividend distribution tax (iii) Simplification of compliance norms for startups (iv) Settlement of pending […]
Startup: Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. Who can be registered as Startup? Private Limited Company Registered Partnership Firm limited liability partnership (LLP) Note: […]
ईमानदार करदाताओं को प्रोत्साहन और कर प्रणाली में पारदर्शिता बढ़ाने के लिए प्रधानमंत्री नरेंद्र मोदी ने एक नए और महत्वपूर्ण प्लेटफॉर्म की शुरुआत की इस प्लेटफॉर्म का नाम ‘ट्रांसपैरेंट टैक्सेशन: ऑनरिंग द ऑनेस्ट’ दिया गया है. इस अवसर पर प्रधानमंत्री नरेंद्र मोदी ने कहा कि ये प्लेटफॉर्म 21वीं सदी के टैक्स सिस्टम की शुरुआत है, […]
Section 115BAA was introduced by way of a mid year budget in FY 2019-20 and is applicable to certain domestic companies from 1st April 2020. The new section gives a one-time option to Domestic Companies to pay tax on their taxable income at 22% (instead of 25%/30%) and additional surcharge of 10% irrespective of taxable […]
Government has acknowledged that the country can move forward and can develop when the life of honest taxpayer is made easy. This scheme is in the direction of making assessee s’ life easy. Launching of Taxpayers charter is to ensure fair, courteous, and rational behaviour to the honest taxpayers.
