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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 ITAT Chennai has restored a charitable trust’s appeal for 80G approval back to the CIT(E), pending a CBDT decision on its condonation request for a 90-day delay in filing.
ITAT Mumbai ruled that forfeited share application money is a capital receipt, not taxable under Section 68. It also confirmed interest on business funds and disallowed ad-hoc expense additions.
Learn about the tax implications of transactions within a Hindu Undivided Family (HUF). This summary covers capital gains on partitions, gifts, sales, and inheritance.
Understand the 2025-26 salary tax implications in India. Compare old vs. new tax regimes, tax slabs, deductions (80C, 80D, HRA), and choose the best option for your income.
ITAT Mumbai rules SBI is not an assessee in default for TDS on foreign remittances if payees have paid taxes. Explains implications for MasterCard, Visa, and interest liability.
The ITAT Ahmedabad ruled that a fall in gross profit alone cannot justify the rejection of an assessee’s audited books of account without the AO pointing out specific defects.
The ITAT Patna ruled that an assessee’s investment in property cannot be taxed as unexplained in the year of registration if the full payment was made in the previous financial year.
The ITAT Hyderabad dismissed an appeal by an assessee due to an inordinate delay of over six years, finding the reasons provided for the delay to be insufficient and lacking credible evidence.
The ITAT Bangalore deleted additions and expense disallowance for an agriculturist, holding that they are not required to maintain books and their substantiated agricultural income cannot be treated as unexplained.
The ITAT Hyderabad ruled that a penalty for under-reported income was invalid because the assessing officer made no fresh additions beyond the disallowance already made by the CPC.
