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Income Tax : Confused about which form to file for tax regime choice? Understand the differences between Form 10IE and Form 10IEA, filing dates...
Income Tax : Understand the nuances of Gratuity - eligibility, exemptions, tax implications for employers & employees, and recent regulatory ch...
Income Tax : Explore the practical implications of Section 43B(h) of the Income Tax Act, its applicability, disallowance scenarios, and complia...
Income Tax : Learn why determining residential status matters for income tax in India. Explore the categories, tests, and implications for ind...
Income Tax : Learn about Transfer Pricing compliance and assessment procedures, including ALP determination, TPO reference, DRP mechanism, APAs...
Income Tax : Ministry of Finance sets up a 24X7 Control Room for Lok Sabha Elections 2024 in Delhi to monitor cash movements. Toll-free number:...
Income Tax : Ministry of Finance reveals impressive growth in India's direct tax collections for FY 2023-24, with net collections up by 19.88%,...
Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...
Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...
Income Tax : Learn how to file updated returns under Section 139(8A) of the Income Tax Act within 24 months from the assessment year end. Know ...
Income Tax : Explore amendments in ITR form V & Acknowledgement for A.Y 2024-25 as per Income Tax Act, 1961 & Rules, 1962. Understand filing pr...
Income Tax : Explore Notification No. 36/2024 by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, concerning the ...
Income Tax : Stay informed with Ministry of Finance Notification No. 35/2024. Learn about the latest specification of 'Principal Secretary, Pla...
Income Tax : Understand the implications of the corrigendum to Income Tax Notification No. 27 of 2024. Get insights into the changes and their ...
Income Tax : Explore the Notification No. 33/2024 on the agreement between India and Spain for tax exchange. Understand its implications and ch...
Learn how to register as a legal heir on the Income Tax portal and file returns for a deceased person. Follow these steps and ensure compliance with tax obligations.
Discover the implications of sections of the Income Tax Act, 1961, and articles of the Constitution of India in tax assessments and recoveries. Learn from a recent judgment how timely appeals and payments can protect taxpayers’ rights.
Discover the one-time opportunity to submit your Income Tax Return (ITR) for FY 2019-20 & FY 2020-21 now. Learn about the ITR-U form and updated deadlines.
ITAT Mumbai held that even after request from assessee to refer DVO for correct fair market value of the subject property, AO was duty-bound to refer the same to DVO. Accordingly, matter remanded back with a direction to refer the matter to DVO and decide the issue.
Discover tax deductions for contributions to political parties under Sections 80GGB & 80GGC of the Income Tax Act, 1961, including eligibility criteria and quantum of deductions.
Discover essential tax planning strategies for Indian business owners, including choosing the right entity, maximizing deductions, and utilizing tax-saving schemes to minimize tax liability.
ITAT Bangalore held that payment made towards service charges to CGTM France doesnot fall under the category of fees for technical service. Accordingly, TDS u/s 195 of the Income Tax Act not deductible.
ITAT Kolkata held that post disallowance of employee contribution to PF, only 40% will be taxed as business income in terms of applicable provisions of rule 8(1) of Income Tax Rules, 1962 as assessee is engaged in tea plantation business.
ITAT Jaipur held that cost of improvement cannot be rejected on the reason that building plan approval, property tax, etc. not provided as no building approval is required for construction area of 870 Sq. Fts and property tax was not leviable on the residential house property. Cost of improvement allowable as valuation report submitted.
Pawan Raj Goyal Vs DCIT (ITAT Delhi) ITAT Delhi held that addition of unexplained money under section 69A of the Income Tax Act via rectification order passed under section 154 stating there was mistake apparent from record is based on surmises and conjectures and hence unsustainable. Facts- Assessee has preferred the present appeal contending that […]