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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...
Learn circumstances where a PAN is mandatory, including for high-value financial transactions, business turnover exceeding Rs.5 lakh, and various specific payments.
Find a detailed list of eligible tax deductions for your ITR for FY 2024-25. This guide covers key sections like 80C, 80D, and others to help you claim tax benefits.
ITAT Chandigarh held that addition towards bogus Long Term Capital Gain u/s. 153A of the Income Tax Act cannot be sustained in the absence of any incriminating material found during the course of search. Accordingly, appeal allowed and addition deleted.
ITAT Chennai held that deduction under section 80P(2)(a)(i) of the Income Tax Act is admissible to Regional Rural Banks. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
A CBI operation in Vijayawada led to the arrest of an Income Tax Inspector and a middleman for demanding and accepting a Rs. 70,000 bribe to prevent tax action.
A Customs Superintendent at Sahar Air Cargo, Mumbai, was arrested by the CBI for demanding and accepting a ₹10.20 lakh bribe to clear consignments.
Notification 130/2025 grants income tax exemption to the Uttarakhand Pollution Control Board, effective from assessment year 2025-26, under Section 10 of the Income-tax Act.
Get ready for the changes in TDS and TCS provisions applicable for FY 2025-2026 to ensure compliance in your financial transactions.
Ahmedabad ITAT dismisses revenue’s appeal, deleting additions for demonetisation-era cash deposits, citing a lack of evidence for tax evasion.
Denial of DTAA benefits to UAE resident over capital gains on debt mutual funds. The case examines whether ‘liable to tax’ requires actual tax payment.
