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Income Tax : Learn how YouTube & Instagram earnings are taxed in India. Understand income tax slabs, TDS, GST rules, deductions, and compliance...
Income Tax : This blog delves into the nuances of HRA, its exemptions, tax deductions, and the rules governing it, specifically within the Indi...
Income Tax : INTRODUCTION There are a few popular beliefs in India that agricultural income is completely exempt from tax. While this holds som...
Income Tax : Explore how tax policies influence business decisions, investment trends, and economic growth. Learn about tax reforms, incentives...
Income Tax : Understand how lottery winnings are taxed in India. Learn about tax rates, deductions, TDS, and strategies to manage tax burdens o...
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 Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Se...
Income Tax : ITAT Ahmedabad held that CIT(A) rightly restricted disallowance on account of unexplained bank deposit and withdrawal under sectio...
Income Tax : Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ...
Income Tax : It was held that in the original assessment under Section 143(1), the issue related to the deed of purchase of land was not looked...
Income Tax : Assessee then filed returns in response to the notice under Section 148, claiming a deduction under Section 80P. AO disallowed the...
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...
As the extended deadline of filing Income Tax Return (ITR) for the financial year 2019-2020 i.e. assessment year 2020-2021, is fast approaching, I wish to point out certain common mistakes which you need to avoid while filling up ITR forms specially who those who file it themselves. Update your basic contact details The income tax […]
Jurisdiction Order No. 3/2020 In exercise of powers conferred by the Central Board of Direct Taxes (CBDT) under the sub section (1) and (2) of section 120 of the Income-tax Act, 1961 read with section 178 of the Finance Act 2016
Tax Bar Association, Guwahati has made a Request for Extension of Due Dates for furnishing of Tax Audit Report & Income Tax Return for Assessment Year 2020-21 to Smt. Nirmala Sitharaman, Hon. Finance Minister of India. Request is been made to extend the due dates of furnishing of Tax Audit Report U/s 44AB to 28th […]
The Uttar Pradesh Tax Bar Association has made a Representation for Extension of time for filing Income Tax Return and for Income Tax Audit and they requested for extension of due dates to 31.03.2021 from the existing due dates of 31.12.2020. Download Representation for Extension of time for Tax Audit & Return in PDF Format […]
Central Board of Direct Taxes Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi – 110055 Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21 S. N. Exem-ption claimed under section Return furn-ished section Registr-ation / Approval under section Regist-ration Details Comp-ulsory Appli-cable income Sche-dules to be filled […]
Income from House Property Hello Friends, as u know the time of filing of income tax return is near and this article will helpful for the assesses who has income from house property, yes, in this article we are going to discuss the taxability of Income from House Property. First of all, there are some […]
The SVLDR Scheme contemplates ‘Tax Relief’ as detailed in Section 124: Section 124(2) stipulates that the ‘Tax Relief’’ shall be calculated subject to the condition that any deposit during enquiry or investigation or audit shall be deducted when issuing the statement indicating the amount payable by a declarant and subject to the condition that if the amount so paid exceeds the amount payable by the declarant as indicated in the statement, the declarant shall not be entitled to any relief.
BACKGROUND Direct Tax Vivad se Vlshwas Act, 2020 offers a win-win dispute resolution package that benefits the taxpayers as well as the Government. Taxpayers All also be better-off due to savings on account of time and resources, certainty with respect to their tax liability and immunity from penalty and prosecution. Government will benefit from timely […]
Prithvi Raj Singh Vs I.T.O. (ITAT Jaipur) We found that the assessee had declared capital gain income in return which clearly shows that there is non-application of mind on the part of the A.O. while recording the reasons as he did not consider the return furnished by the assessee wherein capital gain income has been […]
8th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs. 48,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States
