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Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
Income Tax : Krishna, as in March the end of the financial year approaches, many people start thinking about how to save more tax. After all, a...
Income Tax : Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments ...
Income Tax : Explore our analysis on including Company Secretaries as Accountants under the Income-Tax Bill 2025. Benefits include improved com...
Income Tax : While tax avoidance is legal and involves strategic tax planning, tax evasion is illegal and constitutes fraudulent activities to ...
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 of an appeal before CIT(A) needs to be condoned firstly by excluding COVID-19 pandemic outbrea...
Income Tax : ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on ...
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 : 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...
Penta Media Graphics Ltd Vs DCIT/ACIT (ITAT Chennai) Disallowance u/s 40(a)(i) justified if assessee failed to deduct TDS on payment for software development consultancy charges to foreign companies. Conclusion: Since assessee had not deducted TDS under section 195 on payment for software development consultancy charges was made to foreign companies and failed to file any […]
Explore the crux of TDS under Section 194R of the Income Tax Act, 1961. Learn about its applicability, rates, non-applicability, liability, and recent amendments.
Commissioner of Income-tax as specified in column (4) of the Schedule below shall be subordinate to the Chief Commissioner of Income-tax specified in column (3) of the said Schedule.
Notification No. 81/2022-Income Tax, Dated: 08.06.2022- Central Government notifies ‘Bihar Electricity Regulatory Commission’ constituted by State Government of Bihar in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 8th July, 2022 Notification No. 81/2022-Income Tax S.O. 3142(E).—In […]
CBDT notifies new Income Tax Rule 21AL Other Conditions required to be fulfilled by original fund vide Notification No. 80/2022- Income Tax Dated: 8th July, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 80/2022- Income Tax | Dated: 8th July, 2022. G.S.R. 524(E).—In exercise of the powers conferred […]
Explore the complexities of Section 194R of the Income-Tax Act, 1961, with guidelines from CBDTs circular No.12 of 2022. Learn about TDS provisions, implications for businesses, and potential challenges, questioning the alignment with the Finance Bill 2022. Review real-world scenarios on out-of-pocket expenses and dealer conferences, highlighting concerns and suggesting a need for a comprehensive review by the government. Stay informed about the effective date and potential impact on the Ease of Doing Business.
Reopening the assessment under section 148(2), by officer having no jurisdiction over the appellant, vitiate the entire reassessment proceedings initiated against the appellant.
Assessee consistently deposited sale proceeds realized by way of cash, such deposit is in accordance with law, addition deleted
Form no. 10CCB clearly states that the undertaking is partly owned. Sale proceeds are also deposited equally in individual account. Deduction u/s 80IB(10) allowed
Held that the development fees received from students for acquisition of Fixed Assets and utilized for acquisition of Capital Assets, taken directly to corpus fund, is allowed as capital receipt
