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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...
Taxpayers must file Form 31 to claim rent deduction if no HRA is received. Proper filing ensures eligibility for deduction up to Rs. 60,000 annually
The form is required to claim deductions for dependants with disabilities under Sections 127 and 154. Filing with a valid medical certificate is essential to avoid denial of benefits.
The issue was whether tax benefits can be claimed without filing Form 29. It was held that furnishing the certificate is mandatory, and non-compliance leads to denial of carry forward and set-off benefits.
This article explains the requirement to file Form 28 under Section 77(4) for slump sale transactions. The key takeaway is that filing is compulsory for capital gains computation.
The case examined inconsistencies in capital gains allocation. It was clarified that valuation-backed reporting under Form 27 ensures accurate attribution and reduces disputes.
The case addressed risks of data manipulation and concealment. It was held that mandatory reporting of accounting systems and data storage enhances transparency and traceability.
The issue was whether maintaining a daily register is compulsory. It was held that medical practitioners exceeding prescribed limits must maintain Form 25 to ensure proper income reporting and compliance.
The issue was whether audit reporting is required for such income. It was held that Form 24 is compulsory for non-residents earning royalty or FTS through a PE, ensuring proper income computation.
The case addressed post-notification compliance failures. It was held that violation of conditions or non-genuine activities can lead to revocation of notification and tax benefits.
The issue was whether tax benefits can be claimed without prior approval of the project. It was held that filing Form 22 before commencement is compulsory, and benefits cannot be granted without such approval.
