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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...
A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprisonment and fines for serious defaults, including wilful tax evasion, failure to remit TDS/TCS, non-compliance during search, and fraudulent property disposal.
A summary of agricultural income under Section 2(1A) of the Income-tax Act, covering rent, cultivation processes, and farm buildings. Learn about the partial tax integration regime, special rules for tea, coffee, and rubber, and the capital gains treatment for rural versus urban agricultural land.
The AIS is a comprehensive statement providing all tax and financial transaction details, including TDS, SFT, and external data, to the taxpayer. TIS is a summary of this information. Access via e-filing portal; feedback is possible.
ITAT Hyderabad held that Transfer Pricing Officer [TPO] doesn’t have jurisdiction to scrutinize the claim of deduction under section 80IA of the Income Tax Act. Accordingly, addition made by AO on account of TP adjustment is not sustainable.
Understand Benami property and transactions as per the PBPT Act. Learn what constitutes Benami, who the Benamidar and Beneficial Owner are, the exceptions, and the serious consequences, including rigorous imprisonment, fines, and confiscation of assets by the Central Government.
Five High Courts criticize the CBDT’s habit of last-minute ITR deadline extensions, citing administrative chaos, mental stress, and need for proactive tax governance reform.
ITAT Delhi held that the ₹33.12 crore received by a co-founder to settle disputes and relinquish the right to sue for promised equity is a non-taxable capital receipt. The court ruled the payment wasn’t salary, business income, or capital gains, as the ‘right to sue’ isn’t a transferable capital asset.
ITAT Mumbai quashed search assessments under Section 153C, ruling that a single, non-speaking, and mechanical approval granted under Section 153D for multiple assessment years is invalid.
Allahabad High Court ruled that a taxpayer cannot be denied credit or refund for TDS merely due to a mismatch in Form 26AS. The department must verify the payment from the deductor.
Analysis of the new Section 147/148 search assessment in the IT Act. Examines the requirement for incriminating material despite the “deemed information” clause.
