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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...
The Kerala High Court ruled that taxpayers must first challenge the validity of a reassessment notice lacking a Document Identification Number (DIN) with the Assessing Officer.
Kerala High Court has dismissed Vimala Hospital’s appeal, ruling that an error in a tax return cannot be corrected through a rectification plea if a revised return was not filed within the statutory timeframe. The court upheld the lower authorities’ decision, stating that the hospital’s voluntary declaration of anonymous donations in its return was binding.
High Court ruled that Section 281B provisional attachment lapses after six months unless extended, directing village officers to restore assessee’s property rights.
The Kerala High Court has granted a hotel a new chance to appeal its tax case, despite a 588-day delay. The court ruled that dismissal on a technicality was unjust when the original tax order may have violated natural justice, ordering the hotel to pay a ₹3 lakh cost for its negligence.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad has dismissed a Revenue appeal, affirming that a real estate developer was correctly allowed to claim a project loss.
ITAT Kolkata allows Govinda Debnath’s appeal for statistical purposes. Tribunal condoned the 126-day delay after finding the assessee received no CIT(A) hearing notices, remanding the case for fresh, merits-based adjudication.
ITAT Kolkata remands Lakshmi Ojha’s AY 2020-21 appeal to the AO. The Rs.1.76 crore addition for property value difference must be re-adjudicated after obtaining a mandatory valuation report from the DVO in the interest of justice.
Compare deductions under India’s old and new tax regimes. Learn which tax-saving options, including Standard Deduction and Gratuity, are available in each.
Effective A.Y. 2024-25, the new tax regime is the default. Taxpayers with business or professional income must file Form 10-IEA to opt for the old regime.
The Tribunal ruled that the addition, based on uncorroborated loose papers and rough jottings, was invalid. The decision followed a similar ruling in a co-partner’s case, establishing that such evidence without independent verification cannot be the sole basis for taxation.
