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Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...
Income Tax : Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a fa...
Income Tax : Understand leave encashment rules under Section 10(10AA). Does resignation qualify for exemption? Learn the tax implications and k...
Income Tax : The 2024 budget introduces changes in capital gains tax for immovable property, removing indexation and offering two tax options f...
Income Tax : Learn about taxation rules for unregistered charitable trusts under the Income Tax Act, 1961, including exemptions under Sections ...
Income Tax : Learn how CRS and FATCA enhance tax transparency, requiring foreign asset disclosure in India. Avoid penalties with complete, accu...
Income Tax : Direct tax collections for FY 2024-25 have risen 21.2% gross, with a 15.41% net growth compared to the previous year, reflecting c...
Income Tax : CBI files chargesheet against Principal Commissioner of Income Tax and four others in a Rs 10 lakh bribery case. Investigation det...
Income Tax : CBDT sets transfer pricing tolerance range at 1% for wholesale trading and 3% for other transactions for AY 2024-25, providing cla...
Income Tax : KSCAA highlights critical issues on India’s Income Tax Portal, impacting timely filings for returns and TDS with glitches, timeo...
Income Tax : Delhi High Court held that revisionary proceedings under section 263 of the Income Tax Act justified in absence of any effective i...
Income Tax : Held that the TPO had provided no reasons whatsoever for rejecting the TNMM as the most appropriate method. Thus, the Tribunal has...
Income Tax : It is settled position of law that there cannot be any estoppels against the statute. If an income, is not taxable within the four...
Income Tax : ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is l...
Income Tax : ITAT Jaipur held that disallowance of contribution of EPF/ESI of employees contribution justified since amount deposited beyond th...
Income Tax : CBDT Circular No. 17/2024 outlines guidelines for condoning delays in filing Forms 10-IC and 10-ID for AYs 2020-21 to 2022-23 unde...
Income Tax : CBDT Circular No. 16/2024 outlines procedures for condoning delays in filing Forms 9A, 10, 10B, and 10BB for AY 2018-19 onwards un...
Income Tax : CBDT grants tax exemption to the Petroleum and Natural Gas Regulatory Board for AY 2024-25 under Section 10(46A) of the Income Tax...
Income Tax : CBDT sets new monetary limits for waiver of interest on delayed tax payments under Section 220(2) of the Income Tax Act, 1961, eff...
Income Tax : CBDT issues Notification No. 5/2024 for mandatory electronic filing of Forms 3CEDA and 3C-O under Income Tax Rules, effective from...
Learn the step-by-step guide on how to deny wrong income entries like rental and property sales in your Annual Information Statement (AIS) to avoid tax issues.
ITAT Pune re-adjudicates Vishranti Gruh Trust’s cancelled 12AB registration due to failure in furnishing genuineness of activities. Learn more about the decision.
Analysis of ITAT Kolkata’s landmark decision in Bagaria More Co. Ltd. vs ADIT, focusing on the treatment of the cost of amenities provided to tenants under Income from House Property.
A detailed analysis of the ITAT Chennai’s ruling on Trimex Sands Pvt. Vs PCIT. The court allows income tax deductions, recognizing mineral extraction from beach sand as manufacturing u/s 2(29BA) of the Income Tax Act.
Explore the landmark ruling of Vijay Shriram Gundale Vs ACIT by ITAT Pune. Learn how excess stock income is categorized as business income, exempt from Section 69B of the Income Tax Act.
ITAT Mumbai quashes PCIT order against Masani Engineering Co. Pvt Ltd . Explore detailed analysis of why allegations of understated revenue in P&L were baseless.
ITAT Kolkata’s ruling on additional depreciation under Section 32(1)(iia) of Income Tax Act on Captive Power Plant Equipment in DCIT Vs Tirupati Sugars.
Understand nuances of claiming tax deductions on payments to relatives in business. Learn how Section 40A(2) of Income Tax Act, 1961 impacts you.
Confused about being taxed in two countries on same income? Learn how Double Taxation Avoidance Agreements (DTAA) and Foreign Tax Credit (FTC) can help you navigate this complex issue.
Assessee argued that since they were subject to audit under the Maharashtra State Co-Operative Act, their due date under Section 139(1) of the Income Tax Act was extended to October 31, 2018. Thus, they filed their ITR well within the time limit.
