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Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...
Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...
Income Tax : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...
Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...
Income Tax : Learn about income tax deductions on home loans, including benefits under Sections 24, 80C, 80EE, and 80EEA. Understand eligibilit...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t p...
Income Tax : Delhi High Court held that passing of order by the revenue under section 148A(d) of the Income Tax Act on the basis of fresh groun...
Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...
Income Tax : ITAT Indore held that rejection of appeal by CIT(A) on the footing of non-payment of advance tax as required by section 249(4)(b) ...
Income Tax : Telangana High Court held that notice issued u/s. 148 of the Income Tax Act must comply with the requirement of the Scheme whether...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and compliance with new regulations.
Starting October 2024, Aadhaar Enrolment ID can no longer be used for PAN applications or income returns. Quoting Aadhaar numbers becomes mandatory to prevent misuse.
From October 2024, applicants can withdraw advance ruling requests pending with the Board for Advance Rulings by October 31. Final decisions due by December 31, 2024.
Starting October 1, 2024, Commissioners (Appeals) will gain new powers to set aside and refer best judgment assessments back to Assessing Officers.
Union Budget 2024 proposes revised holding periods, increased short-term capital gains tax rates, and uniform long-term capital gains tax rates.
Manipur High Court held that non-communication of order of reassessment and demand notice within time lime prescribed under section 153(2) of the Income Tax Act cannot be treated as valid assessment. Accordingly, order quashed aside.
Delhi High Court held that it is impermissible for TPO to disregard the actual transaction unless it comes to the conclusion that an unrelated party would not have undertaken the same in usual course of business. Thus, TPO not permitted to engage in the restructuring of a transaction.
Calcutta High Court held that petitioner not put to notice in respect of addition made under section 69A of the Income Tax Act as notice was issued making addition u/s. 68. Accordingly, the same is violative of principles of natural justice.
Learn about corrections with revised TDS returns. Understand errors, correction types, and filing processes to ensure accurate TDS returns. Avoid penalties and fines.
Explore the Finance Bill 2024’s major changes to the taxability of share buybacks, shifting tax liability from companies to shareholders. Effective from Oct 1, 2024.