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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...
Opel paper Mills Limited Vs DCIT (ITAT Mumbai) The learned CIT appeal noted that the major items of the expenditure is a purchase of paper from the sister company specialty papers Ltd amounting to ₹ 888,827,942/–. These transactions were doubted by the learned assessing officer during the remand proceedings as the purchases are transacted only […]
Held that rule 12 Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 does not expressly debar the Director Discipline from entertaining a complaint merely because it may relate to acts of misconduct committed seven years prior to the same being lodged.
Sudipta Basu Vs ITO (Delhi High Court) Delhi High Court is of the view that Section 119(2)(b) of the Act read with CBDT Circular No. 9/2015 provides a remedy to the Assessees to seek condonation of delay, in cases where Assessee could not file their income tax returns within time due to genuine hardship. Consequently, […]
Unlock the insights into the intricate details of Clause 44 in Form 3CD of Tax Audit Report. Navigate through the breakdown of total expenditure under GST, addressing complexities and considerations for accurate reporting. Stay informed for seamless compliance.
Sylph Technologies Limited Vs Principal Chief Commissioner of Income Tax (Madhya Pradesh HC) The time limit for issue of notice under section 149 is in respect of Section 148 and not for Section 148A. 1. The AO had issued issued a notice dated 28.06.2021 under pre-amended sec. 148 of the Income tax Act. 2. Later […]
Ekaksh Commerce Pvt Ltd Vs ITO (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order dated 27th April, 2022 under Section 148A(d) of the Income Tax Act, 1961, relating to assessment year 2018-19 on the ground that the same being without jurisdiction and contrary to the provision of Section 149(1)(a) and […]
Net Direct Tax collections upto 08.09.2022 at Rs. 5.29 lakh crore are 30.17% higher than net Direct Tax collections for same period last Year
Income Tax Department conducts searches on prominent business groups in Maharashtra The Income Tax Department carried out a search & seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medical college etc. The search action covered more than 20 premises spread over Solapur, […]
Get a sample format for the undertaking under section 12AB(4) of the Income Tax Act, 1961. This declaration assures that the trust is exclusively for charitable purposes, and its activities adhere to legal conditions. Download now for compliance assurance.
Generate a foolproof declaration under Section 13(1)(c) of the Income Tax Act, 1961 for your trust. Ensure compliance and transparency in handling trust income and property. Download the format now
