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Income Tax : Explore how rental income is taxed under Income from House Property. Learn about deductions, NAV calculation, and rules for pre- a...
Income Tax : Finance Act, 2023, has inserted section 43B(h) to facilitate timely payments to MSMEs by withholding deduction on account of delay...
Income Tax : Learn about the Income Tax Appellate Tribunal (ITAT), its role, procedures, and recent updates for taxpayers in India navigating t...
Income Tax : Chapter X of the Income Tax Act applies solely to transactions with Associated Enterprises (AEs), excluding non-AE transactions fr...
Income Tax : Impact of the New Income Tax Regime on Salaried Employees: Analyzing How the Revised Tax Slabs and Exemptions Affect Salaried Indi...
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 : CBDT simplifies compounding procedures under the Income-tax Act, 1961 by reducing charges, removing limits, and easing filing requ...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : Upon further examination of the assessee's bank statements, the Assessing Officer observed that significant funds were being trans...
Income Tax : The assessee is an individual and engaged in the business of retail milk selling. For the relevant AY 2012-13, the assessee did no...
Income Tax : ITAT Delhi held that assessment order under section 153A of the Income Tax Act quashed as assessment has been framed not based on ...
Income Tax : ITAT Ahmedabad held that addition u/s. 2(22)(e) of the Income Tax Act is liable to be set aside since advance was received was mer...
Income Tax : Delhi High Court rejects Revenue's plea for condonation of 880-day delay in re-filing an income tax appeal against Anil Bhalla....
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...
Income Tax : CBDT issues Circular No. 14/2024 allowing condonation of delay in filing tax returns for AY 2023-24 under Section 80P, benefiting ...
Income Tax : The CBDT extends the Income Tax Return due date for AY 2024-25 to November 15, 2024, as per Circular No. 13/2024 issued on October...
Income Tax : CBDT exempts income of West Bengal Pollution Control Board under Section 10(46) of the Income-tax Act, 1961, subject to non-commer...
KSCAA requests review of incorrect TDS credit processing by CPC Bengaluru for AY 2024-25 and urges system corrections and resolution for affected taxpayers.
Explore the impact of Budget 2024 on real estate capital gains taxation. Learn about the proposed shift from indexation to a flat 12.5% tax rate.
Defective ITR not rectified within time is treated as invalid. Filing a new belated return or seeking condonation can avoid penalties under Section 234F.
Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is considered full consideration for tax.
Summary of cross appeals involving VAT disallowances under Section 43B for AY 2018-19, addressing accounting methods, CIT(A) decision, and case law reliance.
Bombay HC grants interim relief in JD Printers re-assessment case, opting for a different approach than in Hexaware. Notice and proceedings stayed.
The ITAT Indore remanded Amit Vyas’ appeal back to CIT(A) due to procedural delays, allowing reconsideration of unexplained cash deposits and assessment orders.
ITAT Indore remands case of District Organiser Tribal Welfare Bhopal vs. ITO for incorrect TDS calculations and procedural delays. Read the full judgment summary.
Learn about Section 269SS, its cash transaction limits, penalties under Section 271D, exemptions, and important court rulings on tax compliance and penalties.
Explore the legal boundaries of tax avoidance, recent rulings, and the evolving jurisprudence in India with key cases like Vodafone shaping fiscal policies.
