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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Bangalore ruled CIT(A)’s rejection of Smt. Prameela Parameshwar’s appeal for non-payment of advance tax invalid, as the addition was based on incorrect information.
Explore taxation aspects of startups, Alternative Investment Funds (AIFs), and International Financial Service Centres (IFSCs) in India, including benefits and exemptions.
ITAT Hyderabad condoned a 21-month delay in filing an income tax appeal due to the COVID-19 pandemic, referencing a Supreme Court ruling on limitation periods.
Article explains how surrendered income is treated under I.T Act, particularly focusing on applicability of Sections 68 to 69D and related provisions.
Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical insights and ethical guidelines.
Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 15, 2024. Enhance efficiency and accuracy.
ITAT Ahmedabad rules in favor of Rahul G. Patel, granting exemption under Section 54EC for investments made in NHAI bonds before the sale deed registration.
This article delves into the key amendments introduced under section 11 of the Income Tax Act, focusing on the revised timelines and conditions for filing forms, setting apart or accumulating trust income, and the nuances of applying corpus funds. Understanding these changes is crucial for trustees to ensure compliance and optimize the financial management of their trusts.
ITAT Hyderabad held that voluntary surrender of income in good faith cannot be considered as concealment of income. Hence, penalty u/s. 271(1)(c) of the Income Tax Act cannot be sustained.
Delhi High Court held that Dividend Distribution Tax (DDT) is liable to be paid by the company which declares, distributes or pays the same. Petitioner, herein, has received interest income from Non-convertible debentures and accordingly cannot be subject to DDT.
