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Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
Income Tax : Analyzing if increased TDS thresholds and reduced rates enhance taxpayer liquidity or just shift tax payments to advance tax. Read...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : Recent changes in India's income tax structure, particularly the introduction of rebates, have led to some confusion among taxpaye...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
According to section 269SS, it is very much clear that any assessee cannot take loan or deposit from any person of Rs. 20,000 or more in cash, in other word it is to be received by account payee cheque or account payee bank draft or any electronic mode. It has also been clarified that at the time of taking loan or deposit or making payment of loan or deposit, if any amount is outstanding in his account, this is to be considered.
Find answers to your FAQs on CSI (Challan Status Inquiry) under Income Tax. Learn how to download the CSI file and get step-by-step guidance.
BMC Software India P. Ltd Vs DCIT (ITAT Pune) ITAT Pune held that charges of Primary Rate Interface doesn’t require human intervention and hence doesn’t qualify as fees for technical services. Accordingly, TDS not deductible u/s 194J of the Income Tax Act. Facts- Assessee challenged the disallowance of Primary Rate Interface (PRI) line charges paid […]
Jharkhand High Court held that acceptance of bribe duly proved and accordingly, a punishment of six months simple imprisonment under Section 7 of the PC Act and one year’s simple imprisonment under Section 13 (2) r/w 13 (1) (d) of the P.C. Act with a fine of Rs.1000 sentenced for accepting bribe for furnishing Income Tax clearance certificate
Gujarat High Court held that change of opinion on the part of the Assessing Officer acting on the same material which was examined by him in the regular assessment is erred in law.
Telangana High Court held that Tribunal rightly held the addition of LTCG as execution of registered sale deed is valid transfer u/s 2(47)(V). Hence, as the finding of fact by the Tribunal is clear the same doesn’t require any interference.
ITAT Chandigarh held that addition in the business income merely on the basis of closing bank balance unsustainable as there is nothing on record to show that assessee had any other income except agricultural income.
ITAT Ahmedabad held that expenditure incurred for education of the daughter, who pursued the very same profession in which the father was, doesn’t make the same business expenditure. Father was morally bound to spend on the education of his daughter and hence the same is personal expenditure.
ITAT Delhi held that penalty under section 271(1)(c) of the Income Tax Act unsustainable as claim of deduction u/s. 80IA(4) already decided in favour of the assessee.
ITAT Bangalore held that for invoking the provisions of unexplained cash credit u/s 68 there has to be entries in the books of account for which no explanation should have been offered. As the declaration provided by the assessee is self-explanatory the provisions of section 68 cannot be invoked.
