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Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...
Income Tax : Monetary gifts to individuals or HUFs exceeding ₹50,000 in a year are taxable unless received under specific exemptions like fro...
Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...
Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...
Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...
Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...
Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...
Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
ITAT Delhi permits a Section 54 deduction that wasn’t claimed in original or revised returns. The case highlights the powers of appellate authorities.
ITAT Mumbai decides on Kalyan Riverside Charitable Foundation’s registration under sections 12 & 80G. Key insights on the ITAT’s decision and implications.
Review of ITAT Delhi’s decision in ITO Vs Soumya Tradecom Pvt Ltd case, highlighting lack of valid approval in reassessment proceedings. Key takeaways.
Analysis of ITAT Chandigarh’s order allowing the submission of a CA certificate regarding non-deduction of TDS by the State Council for Science, Tech & Environment.
Clause 44 in Form 3CD under Section 44AB of the Income Tax Act 1961- updated FAQs, guidelines for reporting GST details, and exemptions. Understand who needs to report, expert knowledge requirements, and more
Gujarat High Court held that notice issued just two days before expiry of limitation and giving only one day time to provide the defence reply is unjustified as petitioner is not granted reasonable opportunity of being heard.
ITAT Delhi held that addition primarily on the basis of statements alone and no other corroborative evidence and that too without giving assessee an opportunity to cross examine the said persons is unsustainable in law and liable to be set aside.
ITAT Delhi rules no addition under Section 68 if the amount isn’t in books of account. Balaji Tirupati Buildcon Ltd vs ITO case examined in-depth.
Southern Explosives Company P. Ltd. Vs PCIT (Madras High Court) Introduction: In a significant ruling, the Madras High Court has addressed the issue of excessive tax collection by the Income Tax Department. The case in contention is between Southern Explosives Company P. Ltd. and the Principal Commissioner of Income Tax, Chennai. Analysis: The petitioner, Southern […]
ITAT Pune rules on Sushil Industries’ case, asserting that overlooking the sale of scrap is erroneous and jeopardizes revenue. A significant verdict for businesses.
