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Income Tax : Section 87A tax rebate on STCG led to disputes after ITD software changes. Bombay HC & CIT(A) rulings clarify eligibility. Learn a...
Income Tax : Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal ch...
Income Tax : Explore the Principal Purpose Test (PPT) in international tax law, its impact on treaty benefits, legal uncertainty, and potential...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Income tax updates effective 1st April 2025 include higher TDS thresholds, extended startup benefits, increased rebates, and simpl...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Jaipur's ruling on Kailash Chand vs ITO case, analyzing tax assessment, additions, and legal compliance under Section 144 & 1...
Income Tax : ITAT Jaipur sends Puneet Singhvi's capital gains case back to the Assessing Officer for a fresh review after the assessee failed t...
Income Tax : While a best judgment assessment can involve some arbitrariness, it must be an honest and fair estimate based on available materia...
Income Tax : ITAT Jaipur sets aside Resonance Eduventures assessment orders, citing mechanical approval by Addl. CIT without proper applicatio...
Income Tax : ITAT Jaipur ruling on Parshavnath Buildestate Pvt Ltd vs ACIT regarding unexplained expenditures under Section 69C and taxation un...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Stay informed on key Income Tax amendments for A.Y. 2023-24 (F.Y. 2022-23). Explore changes in deductions, thresholds, and relaxations. Ensure compliance with the latest Finance Act, 2023. Contact us for expert assistance.
April Deadline Navigate the choice between new and old income tax regimes for the financial year 2023-24. Understand changes, exemptions, and plan your tax strategy wisely. Expert insights from a Chartered Accountant with two decades of experience. Source: Finance Act 2023-24, Tax Planning, Indian Income Tax Rules.
NRI taxation under the Indian Income Tax Act, of 1961 applies to those earning income outside the home country. The income tax rules and perks allowed to them are drastically different from those applicable to resident Indians.
Release of Direct Tax Statistics The Central Board of Direct Taxes (CBDT) has been releasing key statistics relating to Direct Tax collections and administration in public domain from time to time. In continuation of its efforts to place more and more information in public domain, the CBDT has further released Time-Series data as updated upto […]
Discover insights into Section 148A of the Income Tax Act, 1961, addressing notices for non-furnishing of income tax return, report, or statement. Stay informed about the legal implications, penalties, and important case laws. Source: Finance Act 2021, Legal Analysis.
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
Unlock the secrets of filing Income Tax Returns for the last 3 years. Understand Section 139 of the Income Tax Act, 1961. Explore the opportunity provided by Section 139 (8A) to file pending ITRs. Know the limitations and exclusions. Get answers to FAQs about filing updated tax returns. Stay informed to avoid penalties and financial consequences. Source: Income Tax Act, 1961.
Explore the case law of ITO vs. Shri R.K. Gupta (ITAT Delhi) regarding filing returns in response to notice under section 148. Understand the importance of proper compliance with the notice for reassessment.
Explore the intricacies of the United Kingdoms tax system, vital for education, jobs, and immigration. Learn about income tax, capital gains tax, private residence relief, marriage allowance, and more. Stay informed about tax rates, bands, and business-related tax in the UK. Source: UK Government Website, Tax Regulations, G-20 Taxation Updates.
ITAT Delhi held that no part of the RPC fee is liable to be disallowed in terms of clause (i) of s. 40(a) because the second proviso clause (i) of Section 40(a) being curative and declaratory in nature has to be given retrospective effect.
