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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 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 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 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...
Today I will talk about some due dates extension. Just to update you about your compliance calendar. If you are feeling worry about that how to file compliances on time as due dates is going to end soon than don’t worry as there are so many extension is made by Income tax department and SEBI […]
Equalisation Levy or commonly referred to as ‘Google tax’ was brought in the year 2016 by the then Finance Minister Late Sh. Arun Jaitley as part of implementation of OECD (Organization for Economic Cooperation and Development) Action Plan on taxation of digital transactions (BEPS Action Plan-1). It was observed that business these days is conducted […]
FURNISHING INFORMATION REGARDING REMITTANCE TO NON-RESIDENT A person making payment to a Non-Resident /Foreign entity is required to furnish an undertaking in Form 15CA in digital mode. In some cases, department requires a Certificate From CA, in Form 15CB to be uploaded with the Form 15CA. The relevant provisions have been included in Income Tax […]
If this healthy rule is not followed, the result will only be undue harassment to assessees and chaos in administration of tax laws. Thus, recognising the principle of natural justice which encourages equity, fairness and equality, must be followed at every staggered procedure.
[ACIT v. Padma Logistics &Khanij (P.) Ltd. – In present case, Kolkata Tribunal ordered that the intimation issued u/s 143(1) of the Act does not preclude the assessee from filing a revised return of income.
NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020 NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020. Previously on 8th June, a similar facility for the Form GSTR-3B had been announced. This will benefit approx 12 […]
Discover the new additions and updates in the ITR-2 form for the financial year 2019-20. Learn how to file your income tax returns online with ease.
DUE TO THE OUTBREAK OF NOVEL CORONA VIRUS, THE GOVERNMENT HAS FURTHER EXTENDED THE DATES FOR VARIOUS COMPLIANCES UNDER THE INCOME TAX ACT, 1961 (IT Act) AND VARIOUS OTHER SPECIFIED ACTS** BY NOTIFICATION NO.35 / 2020, DATED 24 JUNE 2020 AND COMES INTO FORCE FROM 30 JUNE 2020 Sr. No. Particulars Period Actual Due Date […]
Income tax return or Income Tax in general is a word that instantly strikes fear in the mind of the person. And definitely, this fear has a lot to do with the visual media and movies we see where Income Tax Authorities are shown as wealth sucking leach which waits for the opportunity to unleash upon it preys.
Last two years have witnessed a large-scale collaborative effort by the international community, under the umbrella of the OECD, towards finding a consensus-based solution for the problem of taxation within the digitalized economy.
