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Income Tax : Article explains provisions related to income from house property, calculation of such income, exemptions available, and applicabl...
Income Tax : Learn the key differences between tax avoidance and tax evasion in India, legal provisions, real-world cases, and government measu...
Income Tax : Understand the concept of an assessee under the Income Tax Act, its classifications, roles, responsibilities, and available tax be...
Income Tax : Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifica...
Income Tax : Stay on top of important compliance deadlines including GST, ESI, PF, SEBI, and Income Tax filings, with detailed due dates and fo...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
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 : ITAT Delhi deletes additions against Sanmati Jewellers due to lack of corroborative evidence and delay in 153C proceedings. Read k...
Income Tax : Deloitte Haskins And Sells Vs ACIT (Gujarat High Court) The High Court recently adjudicated a case concerning a writ petition file...
Income Tax : Rajasthan High Court rejected Agarwal Polysacks' plea against IT reassessment under Section 147, holding the company accountable f...
Income Tax : ITAT Chennai ruled in favor of Jayaram Rangan, holding that consultancy fees received as a Managing Director should be taxed as pr...
Income Tax : Bombay High Court clarifies reassessment under Section 147 of the IT Act in CIT-5 vs. Jet Airways, ruling in favor of the assessee...
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 Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Worldwide Facility Management Services Pvt. Ltd. Vs DCIT (ITAT Delhi) Since in the instant case the assessee admittedly has deposited the employees’ contribution to PF & ESI before the due date of filing of the income tax return, therefore, respectfully following the decisions cited (supra), I hold that the Ld. CIT(A) is not justified in […]
Aroon Facilitation Management Services Pvt. Vs DCIT (ITAT Delhi) I find the A.O. CPC in the instant case has computed the income of the assessee at Rs.16,58,230/- as against the returned income of Rs.6,98,610/- by making an adjustment for a sum of Rs.9,59,624/- on account of belated payment to employees’ contribution towards PF & ESI […]
The assessee classified such cost incurred and right to receive annuity on the toll road as an intangible asset eligible for depreciation u/s.32(1)(ii) of the Act.
Moonfrog Labs Pvt. Ltd. Vs ACIT (ITAT Bangalore) The Ld.CIT(A) held that the advertisement expenses paid to Facebook and other entities constitutes use of industrial, commercial or scientific equipment under section 9(1)(vi) of the Act whether active or passive and hence ‘Royalty’ under the Act. As regards taxability as ‘“Fees for technical services’, it was […]
Avoid common mistakes while filing your income tax return. Get ready with your login ID and password and follow these steps to file accurately.
All Odisha Tax Advocates Association has requested FM to consider the genuine difficulties of the assessees and Tax Professionals and be generous to pass an order to extend the due date of filing of the return of income of the assessees to 28/02/2022 in place of 31/12/2021 and the TARs from 15/01/2022 to 28/02/2022 and […]
CBDT notifies Income-tax (34th Amendment) Rules, 2021 vide Notification No. 138/2021-Income Tax Dated: 27th December, 2021. Vide this CBDT inserts Income Tax Rule 2DD. Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10, Notifies New Forms i.e. Form No. 10-II – Statement of exempt income under clause (23FF) of section […]
Vide Notification No. 11 of 2021 CBDT appointed 165 Assistant Commissioners of Income Tax (Junior Scale) as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/- w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later. Government of India Ministry of Finance Department of Revenue Central […]
Notification No. 10 of 2021 – The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/-, w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later
ITAT Delhi rules in Amandeep Singh Khurana vs ITO, disallowance u/s 36(1)(va) not valid for delayed PF/ESI deposit if made before return filing.
