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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 : The High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT held that the CPC could not make adjustments under Section 143(1) without first issuing the mandatory intimation to the a...
Income Tax : The ITAT Mumbai held that Fees for Technical Services were taxable at 10% under section 115A(1)(b) since the RBI's automatic appro...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
Generally when a person taken home loan, he takes into account his current income and accordingly applies for the loan based on the then eligibility. However with income going up the borrower generally accumulates some surplus. Such borrowers face the dilemma what to do with the surplus funds. Should I prepay the home loan or should I invest the money somewhere else.
Due date for filing 24Q quarterly TDS statement for 4th quarter of FY 2013-14 is approaching fast. You are advised to file TDS statements well before due date (15th May, 2014). It is also requested to refer to Circular 8 of 2013 dated October 10, 2013 in the context of Tax Deduction at Source on […]
Clause 1: Name of Assessee- 1. Give name of the assessee whose accounts are being audited under section 44AB. 2. Incase of audit of a branch, the name of the branch should be stated alongwith the name of the assessee. 3. Incase of proprietary concern, Furnish name of the proprietary firm along with the name of the proprietor.
The assessee contended that the expenditure under the said claims are only for promotion of sales and hence had no relation to payment of any commission on sales. The assessee contended that therefore tax at source is not required to be deducted as the said expenditure did not fell within the ambit of Section 40(a)(ia) of the Income Tax Act.
As far as the expression ‘gratuity’ is concerned, there is no definition of what ‘gratuity’ is, even under the Payment of Gratuity Act; yet, a monetary relief to an employee at the time of his retirement or termination of service is treated as ‘gratuity’.
F.NO.279/MISC./M-171/2013-ITJ In this connection Circular No 1/2014 dated 15.01.2014 has been issued by MCA to Regional Directors which lays down that while furnishing any report regarding reconstruction or amalgamation of companies under the Companies Act, comments and inputs from the Income Tax Department may invariably be obtained so as to ensure that the proposed scheme of reconstruction or amalgamation has not been designed in such a way as to defraud the Revenue and consequently being prejudicial to public interest. It has further been said that the Regional Directors
I am attaching herewith book titled ‘Fast Track Quick Revision of Income tax for AY 2014-15’, which can be extremely useful for students who are appearing for for CA, CS, CMA exam May / June 2014 attempt.
DOWNLOAD INCOME TAX CALCULATOR IN EXCEL FORMAT FOR ASSESSMENT YEAR 2015-16 / FINANCIAL YEAR 2014-15. Salient features of the Simple tax calculator. Simple tax calculator for the use of salaried employees of govt and private sector.Easy use of calculator- Key in the salary details and investment/tax saving details yellow colored cell to compute the tax.
Central Government has vide Notification No. GSR 225(E), Dated – 13-3-2014 fixed initial minimum subscription in PPF at Rs. 100 by amending the para 4 of Public Provident Fund Scheme 1968. Earlier there was no minimum fixed amount of deposit for opening of PPF account but the condition was that amount of initial subscription shall be integral multiples of Rs.5.
The element of factual possession and agreement are contemplated as transfer within the meaning of the aforesaid section. When the transfer is complete, automatically, consideration mentioned in the agreement for sale has to be taken into consideration for the purpose of assessment of income
