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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 allows compensation for contract breach as business expense, dismisses revenue's appeal on advance additions in Logica...
Income Tax : ITAT Ahmedabad remands case due to incorrect notice delivery, allowing reassessment of unexplained deposits and income under natur...
Income Tax : ITAT Chennai remands case for fresh assessment, allowing Ramesh Sreenivasalu to submit documents on demonetization cash deposits. ...
Income Tax : ITAT Mumbai rules that trading results and gross profit cannot be disturbed if purchases, sales, and payments are substantiated. B...
Income Tax : ITAT Delhi directs inclusion of Magma Advisory Services Ltd. in Honda R&D's comparable list, rejecting TPO's reasons and DR's func...
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...
This article examines the tenability of levy of interest u/s 234B in cases of excess refund claimed by taxpayers under the Income Tax Act, 1961.
In the case of Smt. Aruna Tiwari Vs. PCIT, the ITAT Raipur ruled that a non-est assessment order cannot be revised by the CIT under Section 263 of the Income Tax Act.
Bombay High Court held that the amount of tax refunded to the Petitioner, including interest, is to be reduced while determining the amount of disputed tax under KVSS as the Petitioner had not disclosed and calculated tax properly.
In a tax case of Rajesh Poddar Vs ITO, the Bombay High Court set aside the order and directed re-adjudication due to failure in providing reasons for reopening the assessment.
The J&K High Court ruled that trust registration under section 12AA cannot be denied solely for generating surplus profit. Read the full judgment here.
Madras High Court sets aside the impugned Assessment order passed on short notice, just two days before the expiry of the notice period. The court rules in favor of the petitioner, citing a violation of principles of natural justice. Read the full analysis here.
Madras High Court sets aside the impugned Assessment order for the Assessment Year 2017-2018, citing lack of adequate opportunity for the petitioner to be heard. The case is remitted back to the respondent to pass a speaking order within 60 days. Read the full analysis here.
Differentiating between ITR 3 and ITR 4: Understand the applicability, sources of income, presumptive taxation, and audit requirements. Ensure accurate tax compliance by choosing the right form. Consult a tax professional for guidance.
Understanding the rules and guidelines for claiming House Rent Allowance Exemption can significantly reduce the tax burden for salaried individuals. In this article, we will walk you through the process of claiming HRA exemption in income tax.
In this article, we will discuss about the Income Tax provisions relating to both Short-term capital gain (STCG) and Long-term capital gain (LTCG) arising from sale/transfer of securities.
