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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...
ITAT Delhi held that TUFS (Technology Up-gradation Fund Scheme) was introduced by the Government to provide subsidy on loan taken for technological upgradation by the units in the textile industry and hence interest reimbursement received by the assessee is a capital receipt.
A landmark decision by ITAT Chennai reinforces the validity of capital gain deductions under Section 54, even when flat possession is delayed. Explore the key aspects and implications of the Anil Kirthisimhan Wijeyanayake Vs ACIT case.
Avoid common mistakes while filing your ITR. Select the correct form, match income with Form 16 and Form 26AS, disclose necessary details, claim proper deductions, and verify your return promptly. Seek expert advice for accurate tax planning.
In Sri Gopal Store vs AO case, Orissa High Court ruled that a minimum of seven days must be provided for compliance with a show cause notice in faceless assessment proceedings
Gujarat High Court in case of Sampatraj Dharmichand Jain Vs ITO concludes that Reassessment notice issued beyond prescribed time period and based on unverified details is invalid.
The ITAT Delhi ruling in Arya Samaj Safdarjung Enclave Vs CIT sheds light on the reapplication process for 12A(1)(ac) registration erroneously submitted, encouraging a fresh approach to tax registration for non-profits.
Baskaran, the Karta of the HUF, submitted that his prolonged illness prevented him from managing the day-to-day activities of the business, causing the delay in filing the appeal. Despite this, the CIT(A) dismissed the appeal, stating that the delay wasn’t sufficiently justified.
Explore the case of Satish vs ACIT where ITAT Delhi quashed an assessment order passed without giving the assessee an opportunity to respond, setting a vital legal precedent.
Delve into the case of Santi Kumar Oswal Vs ACIT where ITAT Kolkata ruled that no disallowance can be made for GST paid before the due date of filing ROI, emphasizing fair application of the Income Tax Act.
Gain in-depth insights into the ITAT Kolkata’s landmark ruling on residential property deductions under Section 54F of the Income Tax Act. Learn how ownership of more than one house impacts tax deductions.
