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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...
Explore resolutions for CBDT Circular No. 20/2023 issues: TDS responsibilities, fees inclusion, treatment of taxes, purchase-returns, and discount calculations.
The online gaming industry in India has witnessed significant growth in recent years, with millions of users engaging in a variety of games across different platforms. As this industry expands, it becomes crucial to understand the taxation implications and the role of Tax Deducted at Source (TDS) in the context of online gaming activities in […]
Kerala High Court rules no provision to extend the 30-day limit for filing objections against draft assessment orders under the Income Tax Act. Details and implications.
This section delves into transactional profit methods, which serve to analyze the profits derived from specific controlled transactions to ascertain if the transfer price aligns with arm’s length principles. Within this category, two primary methods are discussed: the Transactional Net Margin Method (TNMM) and the Profit Split Method (PSM).
Explore the Kerala High Court’s verdict on Income Tax assessment. Analysis of the PLY Park Vs ITO case, revealing a breach of natural justice principles. Read the detailed judgment.
Explore the ITAT Rajkot’s detailed analysis of Vaidya Realities vs PCIT case under Section 263, highlighting the AO’s assessment, PCIT’s concerns, and the final verdict.
ITAT Ahmedabad allows Prakashkumar Patel’s appeal, condoning a 2929-day delay in filing. Details of the case, assessment issues, and ITAT’s verdict explained.
Shamik Parikh vs ITO: ITAT rules termination compensation non-taxable. Grounds of appeal, analysis of order, and legal perspective explained in detailed article.
Kerala High Court nullifies income tax assessment orders due to a breach of natural justice. Details of the case and implications.
आयकर अधिनियम धारा 43B में संशोधन के तहत, FY 2023-2024 से स्मॉल और माइक्रो इंटरप्राइजेज (MSME) को समय पर भुगतान करने का नया नियम लागू हो चूका है। यदि आपने MSME सप्लायर से माल खरीदा है या सर्विसेज ली है, तो इस नियम के तहत आपको उनके साथ पेमेंट एग्रीमेंट करने का प्लान अनिवार्य रूप […]
