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Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
Income Tax : Co-browsing helps taxpayers file ITR, change settings, and navigate the tax portal with real-time help from agents. Secure, free, ...
Income Tax : This article provides an in-depth analysis of India's tax brackets, key deductions, and recent amendments to income tax laws, help...
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 : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Mumbai rules in favor of Pathare Prabhu CHS Ltd., allowing deduction under Section 80P(2)(d) for interest income from co-oper...
Income Tax : ITAT Mumbai ruled in favor of Borivali Jankalyan Sahakari Patpedhi Ltd., allowing deduction under Section 80P for interest income ...
Income Tax : ITAT Ahmedabad rules on undisclosed foreign accounts in the case of Manjulaben Bipinbhai Patel vs DCIT, addressing tax assessments...
Income Tax : ITAT Mumbai held that receipts from maintenance and support services and additional services, without transfer of any technical kn...
Income Tax : The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Guide to the SOP for re-computing total income for sugar factories post amendments to the Income Tax Act 1961. Key steps and timeline for application.
ITAT Kolkata held that gross receipts cannot be taxed entirely, estimated expenditure incurred by the society for earning this income needs to be allowed even if the society is not registered under section 12A of the Income Tax Act.
Supreme Court’s circular outlines guidelines for filing written submissions, documents, and oral arguments before Constitution Benches and in important cases.
ITAT Delhi held that addition on account of attributing income from offshore supplies to permanent establishment in India unjustified in case of loss.
ITAT Jaipur held that disallowance of expenditure by invoking rectification provisions of section 154 of the Income Tax Act is unjustifiable as the same is not mistake apparent on record.
Allahabad High Court held that delay of three days in depositing the arrears of tax under Direct Tax Vivad Se Vishwas Act, 2020 due to unforeseen and extraneous circumstances that were beyond the control of the petitioner is condonable.
Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the Settlement Commission for re-consideration and re-determination of undisclosed income. It is unjust to set aside the order of Settlement Commission without re-determination of undisclosed income.
ITAT Mumbai held that the assessee not entitled to deduction u/s 48(i) of the Act for repayment of the mortgage debt which was incurred subsequent to the acquisition of the property and not for the purpose of acquisition.
ITAT Mumbai held that AO is bound to dispose of the objections filed by the assessee against reopening and give at least four weeks time, from the date of rejection of objection, to assessee to seek any legal remedy. In absence of the same, reopening of assessment is not legally sustainable.
ITAT Chandigarh held that CIT(E) cannot grant registration to an institution as he deems fit. Here, CIT(E) has granted registration to the assessee as Charitable Institution involved in “advancement of other objects of public utility” instead of Charitable Institution engaged in education activity as applied by the assessee.
