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Income Tax : Failure to file ITRs can result in interest, late fees, loss of refunds, and missed tax benefits. Beyond taxation, it may also aff...
Income Tax : The provisions governing income tax refunds explain when excess tax paid can be claimed back, who is entitled to receive refunds, ...
Income Tax : A comprehensive overview of Income Tax Return filing obligations, due dates, belated and revised returns, updated return provision...
Income Tax : The document explains tax rates applicable to individuals, HUFs, firms, companies, co-operative societies, foreign companies, and ...
Income Tax : Resident senior citizens aged 60 years or above are exempt from paying advance tax if they do not earn income from business or pro...
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 Karnataka High Court condoned the delay in filing appeals after noting that the issue relating to contributions under Section ...
Income Tax : ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding ...
Income Tax : The Allahabad High Court quashed a reassessment after finding that the Section 148 notice was based on an incorrect allegation of ...
Income Tax : The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a b...
Income Tax : Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Win...
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...
Under section 80C, taxpayers can claim deductions up to Rs. 1.5 lakh per financial year. In this article, we will explore the different tax-saving investment options available under Section 80C in India.
Unravel Pravinchandra A Shah Vs Union of India case where a notice issued under Section 148 of Income Tax Act to a deceased person was ruled invalid by Gujarat HC
Explore the case Dariyav Singh Vs ITO. Understand why the Assessing Officer was deemed unfit to rectify the Principal CIT’s mistake in form 5 under VSVS Scheme.
Read about the recent Madras High Court ruling that denies Input Tax Credit (ITC) if tax hasn’t been paid to the government. Analysis and implications for businesses dealing with suppliers with cancelled GST registrations.
Learn about the Young Professional Scheme introduced by the Income Tax Department to enhance departmental representation in ITAT for tax litigations. Find details and deployment regions.
In present facts of the case, it was held that the services rendered were in the nature of advisory services as per the terms of the agreement, therefore these services cannot be the part of Fees for Technical Services (FTS) under Article 13 of India – UK DTAA.
Article aims to shed light on penalties, deadlines, and implications of late Income Tax Return filing, urging taxpayers to fulfill their obligations promptly to avoid unnecessary financial burdens.
The Income Tax Department records a new milestone with over 6.77 crore ITRs filed for AY 2023-24 by July 31, 2023, showing a 16.1% YoY growth.
In present facts of the case, the Hon’ble Tribunal while deducting the additions made by Ld. AO for repair and maintenance, it was observed that if the replacement is of a baby part only, then the same cannot be considered to be a capital expenditure.
In present facts of the case, the Hon’ble High Court granted refund to the petitioner along with Interest from year 1988 for the cash which was seized without any corroboration and the said cash was also duly reflected in Income Tax Returns.
