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Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The Tribunal held that Rule 11UA gives the assessee the exclusive option to choose the valuation method for unquoted shares. While...
Income Tax : The Tribunal held that contradictory third-party statements and unverified allegations cannot form the sole basis for taxing alleg...
Income Tax : The ITAT held that an untested third-party statement, without supporting evidence or cross-examination, cannot form the sole basis...
Income Tax : The ITAT held that registration granted under Section 12AA before completion of assessment entitled the trust to claim exemption f...
Income Tax : The Calcutta High Court set aside the Section 148A(3) order and Section 148 notice after finding that the Assessing Officer failed...
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...
What is Gratuity? Gratuity is a lump sum that a company pays when an employee leaves an organization and is one of the many retirement benefits offered by a company to an employee. In India, gratuity rules and requirements are set out under the Payment of Gratuity Act, 1972. An employer may also choose to […]
Payment to the film distributors is not subject to TDS and therefore disallowing expense by invoking the provisions of Section 40(a)(ia) is not justified
Shri Shantilal B. Parekh Vs ITO (ITAT Mumbai) BOGUS PURCHASES – On the basis of information, huge racket of hawala dealers involved in issuing bogus invoices to allow the traders to claim tax credit was discovered. Assessee was alleged to be one of the beneficiary to who dealt with certain parties engaged in hawala racket. […]
Payment made by assessee to SEBI under consent order was an allowable business expenditure under section 37(1) and the same was not in the nature of the penalty for infraction of the law.
Where assessee had deposited sale consideration amount in the Escrow Account as a security in respect of future liabilities of the company/ transferor, the year of taxability, irrespective of the delay in making investment in REC Bonds on account of uncertainty involved for receiving the amount, the year of taxability was year of receipt and therefore, assessee was eligible for deduction under section 54EC.
आपकी सैलरी स्लिप में ऐसे कई खर्च या निवेश होते हैं, जो Income Tax बचाने में मददगार हैं. क्या आप Income Tax बचाने के लिए निवेश के विकल्पों की तलाश कर रहे हैं? दरअसल, आप 31 मार्च तक निर्धारित निवेश विकल्पों में निवेश कर इस वित्त वर्ष के लिए टैक्स बचा सकते हैं. हम आपको […]
CIT Vs Jagannath Gupta Family Trust (Supreme Court of India) In case of order passed by High Court on cancellation of Trust Registration in which high court held that one Bogus Donation cannot prove that activities of Trust are not genuine but high court has ignored the fact that Trust has pleaded that proceedings for […]
मोहन एक अक्टूबर, 2018 को रिटायर हुए हैं. उनकी ग्रेच्युटी की रकम 20 लाख रुपये से ज्यादा है. लेकिन, संस्थान ने बताया है कि उन्हें केवल 10 लाख रुपये तक की ग्रेच्युटी पर टैक्स से छूट मिलेगी. क्या यह सही है? Tax Guruji मोहन के सवाल का जवाब दे रहे हैं. वह कहते हैं कि […]
आपके जोखिम उठाने की क्षमता को आपसे बेहतर कोई नहीं समझ सकता. खुद Income Tax प्लानिंग में आप इस बात का ध्यान रखकर निवेश विकल्प चुन सकते हैं क्या टैक्स प्लानिंग में एक्सपर्ट की मदद लेनी चाहिए? कई लोगों के मन में यह सवाल होता है. कई लोग यह प्लानिंग खुद ही करते हैं. Income […]
It is hereby notified for general information that the organization M/s Institute of Nano Science and Technology, Mohali (PAN:- AAAAI4829E) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961
