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Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...
Income Tax : Introduction A Hindu Undivided Family (HUF) is a distinct legal entity recognized by the Indian tax system. It is essentially a fa...
Income Tax : Understand leave encashment rules under Section 10(10AA). Does resignation qualify for exemption? Learn the tax implications and k...
Income Tax : The 2024 budget introduces changes in capital gains tax for immovable property, removing indexation and offering two tax options f...
Income Tax : Learn about taxation rules for unregistered charitable trusts under the Income Tax Act, 1961, including exemptions under Sections ...
Income Tax : Learn how CRS and FATCA enhance tax transparency, requiring foreign asset disclosure in India. Avoid penalties with complete, accu...
Income Tax : Direct tax collections for FY 2024-25 have risen 21.2% gross, with a 15.41% net growth compared to the previous year, reflecting c...
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 : Delhi High Court held that revisionary proceedings under section 263 of the Income Tax Act justified in absence of any effective i...
Income Tax : Held that the TPO had provided no reasons whatsoever for rejecting the TNMM as the most appropriate method. Thus, the Tribunal has...
Income Tax : It is settled position of law that there cannot be any estoppels against the statute. If an income, is not taxable within the four...
Income Tax : ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is l...
Income Tax : ITAT Jaipur held that disallowance of contribution of EPF/ESI of employees contribution justified since amount deposited beyond th...
Income Tax : CBDT Circular No. 17/2024 outlines guidelines for condoning delays in filing Forms 10-IC and 10-ID for AYs 2020-21 to 2022-23 unde...
Income Tax : CBDT Circular No. 16/2024 outlines procedures for condoning delays in filing Forms 9A, 10, 10B, and 10BB for AY 2018-19 onwards un...
Income Tax : CBDT grants tax exemption to the Petroleum and Natural Gas Regulatory Board for AY 2024-25 under Section 10(46A) of the Income Tax...
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...
ITAT Chennai overturns addition of Rs. 28.57 Lacs for cash deposits by Gouthamchand Jain, ruling the source as valid and directing a reassessment.
Calcutta High Court sets aside ITAT order in Mirabelle Tradecom case, allowing the assessee another opportunity to contest the matter. Read the case details.
Learn the key provisions of Section 194T regarding TDS on payments made by firms to partners, including rates, limits, and applicability effective April 2025.
ITAT Kolkata remands case of Daroga Family Foundation to reconsider condonation of delay in filing Form-10B due to COVID-19. The delay caused denial of tax exemption.
ITAT Cuttack remands Sitaram Fruits Co. case to AO for fresh review due to non-receipt of notices and disputed cash payments. Appeal partly allowed.
ITAT Nagpur rules no additions in Faiz Zakir Vali case, as no incriminating materials were found during search despite unabated assessment.
ITAT Mumbai directs re-examination of disallowed R&D deductions and non-deduction of TDS issues; appeal allowed for statistical purposes
ITAT Mumbai rules hardship allowance from developers is a capital receipt, not taxable as income. Assessee’s appeal allowed following Bombay High Court ruling.
ITAT Ranchi remands MD Yasin Construction Pvt Ltd’s appeal due to CIT(A)’s non-mentioning of reasons for dismissal, directing a de novo review.
ITAT Delhi rules that remittances to foreign subsidiaries are not taxable in India, leading to the cancellation of tax penalties on HCL Technologies Ltd.
