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Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
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 : 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 Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
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 : 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 the accounting and tax treatment for insured asset loss and claims under Indian accounting standards. This guide covers journal entries, tax implications, and disclosures.
Compare tax rates for domestic and foreign companies under India’s new and old tax regimes. Learn about Sections 115BAA and 115BAB for manufacturing and non-manufacturing firms.
Understand the tax rates for cooperative societies under India’s old and new tax regimes. Learn about Sections 115BAD and 115BAE, deductions, and eligibility criteria.
Pune ITAT restores Action For Impact Foundation’s 80G application, setting aside CIT’s rejection on delay grounds. Matter to be reconsidered on merits.
ITAT Pune rules on Faurecia Automotive Holding case, clarifying FTS and Royalty taxation. Reverses AO’s order on seconded employee reimbursement and global support services.
ITAT Delhi addresses AT&T’s appeals, quashing adjustments for notional interest on receivables, mark-up on domestic services, and TDS on seconded employee reimbursements.
Bombay High Court sets aside reassessment notices for AY 2017-18, ruling Jurisdictional AO lacks authority to issue them under Faceless Assessment Scheme.
ITAT Mumbai overturns PCIT’s Section 263 order against Inter Gold (India) Pvt. Ltd. Tribunal finds AO’s assessment valid on 80G CSR donations, bank charges, and disallowed provisions.
Delhi High Court orders CBDT to allow Cosmo Films to manually file or update software for AY 2017-18, enabling carry-forward of business losses.
Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost compliance and detect mismatches.
