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Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : ITAT Delhi held that Section 56(2)(viib) could not be invoked where shares were allotted at a premium to a 100% holding company. T...
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...
Nirpan Securities Pvt. Ltd. Vs ACIT (ITAT Mumbai) We find that the issue in dispute herein is squarely covered by the decision of the Hon’ble Jurisdictional High Court in the case of Sesa Goa Ltd., vs. JCIT reported in 117 Taxmann.com 96 wherein the Hon’ble High Court had categorically held that education cess paid on […]
CA Social Affiliation (CASA) has requested FM to extend the due dates of furnishing of Tax Audit Report U/s 44AB and Transfer Pricing Audit Report U/s 92E to 28th February, 2021 and Income Tax Return due date to 31st March, 2021 for all type of assessee for Assessment Year 2020-21. Full Text of the Representation […]
Udaipur Tax Bar Association has requested to Union Finance Minister for Further Extension of due dates for filing of both Income Tax Returns & Tax Audit Reports for F.Y. 2019-20 (A.Y. 2020-21). Full text of the Representation is as follows: – Hon’able Smt. Nirmala Sitaraman Ji, Union Finance Minister, Ministry of Finance,Govt. of India, North […]
Dont get confused! Stay updated with the latest income tax return due dates. Know how the extended dates can affect you as a taxpayer.
Chief Commissioner (Admn.) & Commissioner of Income Tax Vs N.K. Mohnot (Additional Chief Metropolitan Magistrate (E.O.I, Egmore-Chennai) The case arose out of a complaint been filed by the complainant, the Chief Commissioner of Income Tax (Administration) and Commissioner of Income Tax at the instance of the Commissioners of Income Tax of wages Division in Tamilnadu, […]
ADP Private Ltd. Vs CIT (ITAT Hyderabad) With regard to the working capital adjustment, it is the case of the assessee that the provision of bad and doubtful debts should be considered as operating expenses while computing the PLI. He submitted that the transactions can be considered as a comparable only after making adjustments to eliminate […]
Do not forget these Incomes generally omitted while filling income tax return Since significant number of salaried people file their income tax return themselves and thus may some commit some omissions not with any intention but due to sheer ignorance of the law. Based on my experience of practicing as a Chartered Accountant, I wish […]
Jamshedpur Chartered Accountants Society has made a representation to FM requesting for extension of Due Date of filing of Tax Audit and Income Tax Return for Assessment Year 2020-21 due to COVID 19 Pandemic. Date: 16/12/2020 Smt. Nirmala Sitaraman Hon’ble Finance Minister, Ministry of Finance. Government of India, North Block, New Delhi 110 001 Request […]
Respected PM Sir and FM madam, I append below a write up for benefit of revenue by increasing scope and properly managing ‘Direct Tax Vivad Se Viswas Act, by accepting amount under declaration to settle all lost disputes of revenue- whether challenged by revenue or not and by accepting payment in advance with some early […]
Exclusive email ID- ‘feedback.notice.neac@incometax.gov.in’ enabled to register grievance regarding Section 142(1) notices (including roving questionnaires) issued under the Faceless Assessment Scheme 2019. The grievances received in the said email shall be closely monitored by a team of officials at National e-Assessment Centre.
