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Income Tax : Advance tax is a system under which taxpayers are required to pay their taxes in installments throughout the financial year instea...
Income Tax : Learn the differences between TDS and Advance Tax, their applicability, payment schedules, penalties, and tax planning tips to ens...
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 : 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 Pune allows Karad Urban Co-Op Bank to claim depreciation on AFS investments as per RBI guidelines, following judicial precede...
Income Tax : Gujarat HC orders 6% interest on delayed tax refunds under DTVSV Act, citing principles of natural justice. Refund delays due to a...
Income Tax : ITAT Chennai held that when cash is sourced out of recorded debtors, provisions of section 69A of the Income Tax Act could not be ...
Income Tax : Guwahati High Court's landmark judgment on the tax rate for carbonated beverages containing fruit juice as per FSSAI Regulation 2....
Income Tax : Interest income earned from staff loans and advances was incidental to the business of power generation and qualifies as “busine...
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...
Understanding the treatment of grants received by subsidiaries from their holding companies: Revenue Receipt or Capital Receipt? Find out the answer here.
Understanding the tax implications of foreign exchange fluctuations in business. Exploring sections 4, 28(i), and 263 of the Income Tax Act, 1961.
CBDT approves ‘Pimpri Chinchwad Education Trust’, Pune under the category ‘University, College or Other Institution’ for Scientific Research for section 35(1)(ii) of Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962. vide Notification No. 128/2021-Income Tax | Dated: 31st October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF […]
Raman Krishna Kumar Vs DCIT (Madras High Court) Conclusion: Since assessee had not filed the Income Tax Return instead of receiving substantial income in the form of salary and had also indulged in high end transactions with respect to purchase and sale of mutual funds and with respect to credit card transactions, therefore, High Court […]
Vide Notification No. 127/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to Gujarat State Aids Control Society 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) Notification No. 127/2021-Income Tax New Delhi, the 29th October, 2021 […]
Vide Notification No. 126/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to Madhya Pradesh Pollution Control Board 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) Notification No. 126/2021 – Income Tax New Delhi, the 29th […]
Vide Notification No. 125/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to ‘Chandigarh Pollution Control Committee’ 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 29th October, 2021 Notification No. 125/2021-Income Tax S.O. […]
Tax Audit Auditor Appointment 1. Login to ITD Portal using Clients Credentials 2. Click e-File 3. Go to Income Tax Forms 4. Click on File Income Tax Forms 5. Search for Form 3CA/Form 3CB 6. Click on File Now 7. Fill in the Form as Below or search for Added CA from Drop Down or […]
In present facts of the case the Hon’ble High Court relied on the Judgment of M/s Canon India and have observed that Joint/Additional Director (in short “DRI”) is not the ‘proper officer’ to issue show cause notice under Section 28(4) of Customs Act, 1962.
One of the main objective of GST was to eradicate cascading effect of taxes which existed under excise, VAT and service tax. Under GST input tax credit can be claimed irrespective of place of supplier, thus making accessibility for sales and purchase of goods easier. Amendment in Section 16 Eligibility and Conditions for taking Input […]
