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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
The Tribunal addressed denial of leave encashment exemption restricted to ₹3 lakh. It held that the revised CBDT limit of ₹25 lakh applies, allowing full exemption within the threshold.
The Court directed the jurisdictional authority to consider the delay condonation request after PAN transfer. It held that the application must be decided in accordance with law.
The case examined whether disallowance under section 94(7) should be limited to exempt dividend. The Tribunal held that the provision applies to the full dividend received, rejecting the assessee’s claim.
The case examined whether settlement of a corporate guarantee liability qualifies as business expenditure. The Tribunal held that the guarantee was given for business purposes and the resulting payment was allowable.
Income not falling under primary heads is taxed under Income from Other Sources. The provision ensures comprehensive taxation and prevents income escaping the tax net.
The issue concerns eligibility of deductions under Chapter VI-A when returns are not filed within due dates. It was clarified that deductions are denied unless timely filing conditions are satisfied. The key takeaway is strict compliance with filing deadlines is mandatory to claim deductions.
The content explains how Section 10 exempts multiple income streams from tax. It highlights key exemptions for individuals, non-residents, and institutions based on statutory provisions.
The framework clarifies that only owners or deemed owners are liable to tax under this head. Computation depends on annual value and specified deductions.*
The case explains how salary income is computed on a gross basis with only specific deductions permitted. It clarifies the scope of taxable components and highlights the restrictive nature of allowable deductions under the Income-tax Act.
The issue was whether share transactions constituted business income or capital gains. The Court upheld investor status based on consistent treatment and factual findings, dismissing the Revenue’s appeal.
