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Income Tax : IT Dept scrutinizes political donations ₹5L+ for tax fraud. Learn about Section 80GGC/80GGB, penalties, and steps to ensure comp...
Income Tax : Why does tax evasion still thrive despite all the efforts to stop it? And more importantly, what can be done to fix it? This blog ...
Income Tax : Through tax laws on Virtual Digital Assets (VDAs) like cryptocurrencies and Non-Fungible Tokens (NFTs), India has initiated the pr...
Income Tax : Explore evolution of tax laws from ancient times to the modern era, highlighting key changes, global trends, and challenges shapin...
Income Tax : Received an IT notice on political donations? Understand why, what to do, and avoid penalties. Expert advice to respond effective...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
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 : ITAT Pune remands the appeal of Mula Parisar Serva Seva Sangh regarding TDS refund claim for 2018-19, citing past precedents....
Income Tax : ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sen...
Income Tax : ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expense...
Income Tax : Delhi High Court directs NFAC to expedite pending appeals, expressing concern over prolonged delays in taxpayer cases, including a...
Income Tax : Delhi ITAT rules Section 56(2)(viib) of the IT Act does not apply to transactions between holding and subsidiary companies, quashi...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
NEW TAX REGIME Finance Bill 2020, gives an opportunity to Individuals, HUF, Business owners, and/or Professionals for concessional rates of taxes for Financial Year 2020-21. However, this concession will be applicable with certain terms and conditions. Let’s first see the Concessional Tax Rates as follows – Annual Income in Financial Year 2020-21 New Income Tax […]
Get a comprehensive understanding of Sections 206AB & 206CCA of the Income Tax Act, 1961. Learn about the higher rates of TDS/TCS for non-filers of ITR.
Understand the requirements of 194Q and 206C(1H) of Income Tax Act, 1961. Learn how to comply with these rules to avoid penalties and ensure legal compliance.
How to Authenticate Notice/Order issued by Income Tax Department (ITD) FAQ Q.1 Why do I need to authenticate notice/order issued to me by Income Tax Authorities? Ans. Every communication by Income Tax department issued on or after 1st October, 2019 shall bear an unique Document Identification Number(DIN). In order to satisfy yourself that the notice/order […]
How to View Filed Forms on New Income Tax Portal – Faqs 1. Can I download my filed form? Yes. You can download the PDF version of the filed form from the e-Filing portal undere-File > Income Tax Forms > View Filed Forms. 2. Who can view filed forms? Anyone who is registered on the […]
Income Tax E-Proceedings FAQs Q.1 What is e-Proceedings? Ans. e-Proceedings is an electronic platform for conducting proceedings in an end to end manner using the e-Filing portal. Using this service, any registered user (or his Authorized Representative) can view and submit response to any notice / intimation / letter issued by the Income Tax Department. […]
How to Respond to Outstanding Income Tax Demand- Faqs 1. Why do I need to submit response to an outstanding demand? The Income Tax Department may find some Outstanding Tax demand against your PAN. In order to confirm if the stated demand is correct, an opportunity is given to you to respond. If you do […]
Extension of Income tax time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic- Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Act, for which the last date of filing under that Section is 1st June, 2021 or thereafter, may be filed within the time provided in that Section or by 31st August, 2021, whichever is later;
Ministry of Finance Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 Posted On: 25 JUN 2021 6:24PM by PIB Delhi A. Tax exemption Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses […]
McKinsey Global Service India Private Limited Vs ACIT (Madras High Court) 6. The contention of the petitioner is that the principles laid down by the Hon’ble Supreme Court of India, re-opening of assessment proceedings in the case of GKN Driveshafts India Ltd., Vs. ITO reported in (2003) 259 ITR 19 (SC) has not been complied […]
