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Income Tax : Learn about the taxation of undisclosed foreign income & assets under the Black Money Act, 2015, including penalties and legal pro...
Income Tax : Understand the taxation on ESOPs, including when options are exercised and shares are sold, and related TDS provisions for employe...
Income Tax : PAN 2.0 के बारे में जानें, पुराने PAN धारकों के लिए आवश्य�...
Income Tax : Accurate disclosure of foreign assets and income in ITR is essential to avoid penalties. Revised returns can be filed by December ...
Income Tax : Struggling with the Upload a Standard Document error in PAN/TAN applications? Learn the file format, size, and DPI requirements to...
Income Tax : State-wise details of women income tax filers from 2019 to 2024 show a steady increase in participation across India....
Income Tax : KSCAA raises concerns over errors in CPC processing of returns and defective notices, requesting corrective actions for smoother t...
Income Tax : Comprehensive list of 29 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : The PAN 2.0 Project simplifies PAN/TAN management with a unified platform, paperless processes, and faster services. Approved by C...
Income Tax : Cabinet approves PAN 2.0 project to enhance taxpayer registration services through technology-driven transformation, improving ser...
Income Tax : Kerala HC rules minor tax payment shortfalls under the Direct Tax Vivad Se Vishwas Scheme can be remedied, ensuring benefits aren'...
Income Tax : CIT(A) partly allowed the appeal and directed the AO to re-compute the “Income From Other Sources” after deducting the amount ...
Income Tax : ITAT Mumbai held that Goods and Services Tax (GST) amount while computing presumptive income under section 44B of the Income Tax A...
Income Tax : Appellant has preferred the present appeal. The solitary issue that is raised is whether CIT(A) is justified in confirming the add...
Income Tax : ITAT Mumbai deleted additions made under section 43CA of the Income Tax Act by considering the stamp duty value on the date of reg...
Income Tax : Foreign representations like UN agencies, consulates, and diplomatic missions are exempt from Section 194N of Income Tax Act under...
Income Tax : The Ministry of Finance has notified the transfer of capital assets from NLCIL to NIRL under the Income-tax Act, effective from th...
Income Tax : 26.11.2024 Due date for online Filing of Audited Accounts with the Office of the Charity Commissioner, Maharashtra stands extended...
Income Tax : CBDT grants SKAN Research Trust approval as a research association for scientific research under Section 35 of the Income Tax Act,...
Income Tax : CBDT mandates electronic filing for Forms 42, 43, and 44 under Rule 131 of Income Tax Rules, 1962, effective November 22, 2024. No...
Madras High Court held that order passed without granting video conference hearing as sought by the petitioner is unsustainable as it is clearly violation of principles of natural justice.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
ITAT Jaipur rules in favor of Rakesh Sharma, rejecting the addition of Rs. 22,54,250 under Section 69 for AY 2008-09, emphasizing the genuineness of bank transfers and cash withdrawals for cash deposits.
ITAT Kolkata held that revisionary proceedings u/s. 263 initiated in the name of non-existent entity, despite the fact that private limited company was converted into LLP and the conversion was brought to the knowledge of AO, is void ab initio and invalid.
Bombay High Court quashes reopening proceedings in Shanmukhananda Fine Arts vs Dy. Director of Income Tax, citing income already declared in the ITR. Detailed analysis.
In PCIT Vs Bhudeva Estate Pvt. Ltd., Delhi High Court emphasized that notices for penalty under Section 271(1)(c) must explicitly specify grounds for penalty imposition.
CBDT notifies ITR 1 and ITR 4 for Assessment Year (AY) 2024-25 / Financial Year (FY) 2023-24 vide Notification No. 105/2023-Income Tax Dated: 22nd December, 2023. Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 105/2023-Income Tax Dated: 22nd December, 2023 G.S.R. 908(E).— In exercise of the powers conferred by […]
Karnataka High Court held that withholding of refund without satisfying requirements of provisions of section 241A of the Income Tax Act is unsustainable in law. Accordingly, refund along with interest allowed.
Explore the NCLAT Delhi judgment on Income Tax Department’s dispute over Rs.26,06,41,424 allocation in Resolution Plan. Analysis, implications, and key insights revealed.
