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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...
Discover if the 20% pre-deposit for tax disputes is always mandatory or if there are exceptions. Learn about discretionary powers and recent judicial insights.
Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpayer grievances.
Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.
Received a notice U/s 139(9) for defective return? Learn why it happens, how to respond, and the consequences of ignoring it. Stay compliant with Income Tax laws.
Explore the latest updates on tax benefits for skill development institutions in India, including GST exemptions and income tax regulations as of August 2024.
On August 5, 2024, it was clarified in the Lok Sabha that there are no specific tax incentives or waivers currently in place for the fintech sector in India. The government’s policy focuses on phasing out existing exemptions and simplifying the tax structure. While there are no special incentives for fintech companies, corporate tax rates […]
Author attempt a comparative analysis of the taxation of income earned from the Immovable property held for earning Long Term Capital Gain with the most Common Assets which have been taxed at higher rates for a very long time.
When an assessee voluntarily discloses income and the assessment is based on this disclosure without any changes, imposing a penalty under Section 271(1)(c) is unjustified.
Explore the detailed analysis of ITAT Jaipur’s judgment in Sunil Chablani Vs Circle (Intl. Tax) case. Key issues include jurisdiction, assessment errors, and procedural flaws.
The removal of Angel Tax is a major relief for startups. Discover implications, benefits, and potential downsides of this significant change.
