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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...
An overview of India’s anti-avoidance tax laws on clubbing of income, including rules, judicial precedents, and practical examples for taxpayers and practitioners.
An overview of the five heads of income under the Income-tax Act, 1961, and the legal tests for classifying a receipt as a salary, business income, or capital gain.
A summary of the changes to share buyback taxation in India. The law now treats buyback proceeds as a ‘deemed dividend’, with implications for companies and shareholders.
Supreme Court dismissed the SLP, affirming that ITAT rightly remanded the case to TPO to reassess ALP of intra-group services, stressing that Section 92C(3) conditions must be examined before adjustments.
Tribunal held that EDC paid to HUDA is a statutory levy and not interest, quashing disallowance u/s 40(a)(ia) based on erroneous application of Section 194A.
Bombay High Court ruled on TDS for Nanavati Hospital. It confirmed doctors are independent professionals, but remanded the AMC matter for re-evaluation.
The Chhattisgarh High Court has ruled that compensation for land acquired under the NH Act is exempt from income tax, citing the RFCTLARR Act and Supreme Court precedents.
Department had not been able to show any arrangement to have been made by assessee in the course of selling its shares of M/s. HCL Technologies Pvt. Ltd. amounted to Impermissible Avoidance Arrangement (for short, ‘IAA’) and it was a pure trading done by assessee with no knowledge.
The Income Tax Appellate Tribunal (ITAT) in Ahmedabad has set aside a tax authority’s rejection of a trust’s Section 80G exemption application. The court ruled that mentioning a temple among multiple charitable objects does not automatically make the trust “substantially religious” and directed a review of its actual expenditures.
Taxpayers and CAs request an extension of the September 30 tax audit deadline and a waiver of advance tax interest, citing portal glitches, floods, and festive season challenges.
