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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...
Read the full text of the order by ITAT Delhi in Virender Rathee vs ITO case. The ITAT allows tax deduction on interest received from enhanced compensation against compulsory acquisition of agricultural land.
Exploring the role, challenges, and impact of the OECD’s proposed Global Minimum Corporate Tax (GMCT) on India and global business.
CIT(A) resolved the appeal, considering the TDS credit issue, on 08/05/2019. Therefore, PCIT can’t invoke s.263 revision proceedings for the same issue, per Explanation-1(c) to section 263(1) of the Act.
An examination of section 271AAB penalty when no undisclosed income is found during search actions. Discover how ITAT Nagpur ruled on this critical tax law issue.
Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the procedure and clarification here.
Assessing Officer issued DIN through a separate communication dated 03.02.2022, which demonstrates that the DIN was not issued within a period of 15 working days of the issuance of the assessment order.
According to the Income Tax Act, there is no requirement for active agricultural activity to be present at the time of selling agricultural land. The key condition is that the land must qualify as agricultural land. The Honourable Third Member supported this view and dismissed the Revenue’s appeal, concluding that the consideration received from the sale of agricultural land was not subject to capital gains tax.
ITAT Kolkata held that as provisions of section 43CA of the Income Tax Act are introduced with effect from 1st April 2014, the said provisions are not applicable to ‘agreement to sell’ entered prior to 1st April 2014.
ITAT Delhi held that income classified as ‘business income’ but not considered for the purpose of working of deduction u/s 80HHC merely on the nomenclature that income are not derived from export is unjustifiable as it is not justified that income has no nexus with earning of export.
ITAT Mumbai held that cancellation of registration of trust retrospectively from AY 2016-17 under section 12AB(4) of the Income Tax Act is invalid.
