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Income Tax : Have questions about income tax payment? Read this article to find answers to frequently asked questions about income tax, includi...
Income Tax : Explore common FAQs on income tax assessments, including types, procedures, and time limits for sections 143, 144, and 147....
Income Tax : Learn about tax loss adjustments, including intra-head and inter-head, carry forward rules, and restrictions on set-offs under Ind...
Income Tax : Learn about clubbing of income under Indian tax laws, where income of one person is included in another's taxable income, includin...
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 : 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 Ahmedabad held that matter needs to be remanded back as assessee failed to furnish corroborative documentary evidence to prov...
Income Tax : ITAT Mumbai held that notice issued u/s. 274 r.w.s. 271(1)(c) of the Income Tax Act without specifying the particular limb is unsu...
Income Tax : Kerala High Court held that condonation application for delay in filing the audit report in Form-10B should have been considered ...
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 : 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...
Bombay High Court’s landmark ruling confirms that only the profit element of bogus purchases can be added to taxable income, emphasizing the requirement for reconciliation of stock in cases of alleged accommodation entries.
Calcutta High Court asserts that the denial of the opportunity for cross-examination and failure to provide copies of evidence render an order invalid under the Income Tax Act.
Read the full text of the judgment by Punjab and Haryana High Court granting a refund of income tax on exempted disability pension income. Analysis of Circulars and Court Orders.
Get the 22nd edition of the comprehensive Income tax reference chart for professionals and users. It covers tax rates, deductions, capital gains, TDS rates, and more. Stay informed!
Delhi High Court orders a fresh investigation in the Rajnish Yadav Vs ITO case, pertaining to allegations of bogus purchases under the Income Tax Act, citing lack of furnished information to the petitioner.
Discover 10 significant income tax judgments where the assessee emerged victorious. Explore the impact of recent High Court rulings in India.
INCOME to start with, from F&O is considered as ‘business income’ not as a ‘capital gain income’. Hence, in case of individuals it is taxable as a slab rates. Further, it is covered in the definition of ‘Normal Business Income’ not as ‘Speculative Business Income’.
ITAT Kolkata orders reassessment of Mohammed Meraj’s case due to the lack of substantiating evidence regarding a mismatch in Form 26AS and Profit & Loss Account in TDS deduction.
Court ruled that the funds in the Term Deposit Accounts were the income of the Government of India and exempt from TDS under Section 196 of the Act. Moreover, the JKSRRDA, being wholly financed by the Central Government, was also eligible for exemption under Notification No. 3489 dated 22.10.1970, despite not being registered under the Central Societies Registration Act.
In the case of Kothari Credit (India) Limited v. Union of India and others, the petitioner filed a writ petition challenging the impugned order passed under Section 148A(d) of the Income Tax Act, 1961.