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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 Amritsar held that in case of non-cooperation during conduct of special audit under section 142(2A) of the Income Tax Act, the time limit to do the same can be extended at the end of the department.
Read the full text of the judgment/order of the Calcutta High Court in the case of Winsome Highrise Pvt. Ltd. & Anr. vs. Union of India & Ors. The court quashes the impugned order under Section 148A(d) of the Income Tax Act, 1961, for violating principles of natural justice by denying the petitioner an opportunity for a personal hearing.
Delve into the case of Society of Educational Assistance and Training Vs CIT (Exemptions), where ITAT Amritsar mandates reconsideration of a charitable trust registration rejection due to a lack of fair hearing opportunity.
ITAT Mumbai held that penalty u/s 271(1)(c) not leviable as mere making of a claim which is not sustainable in law by itself will not amount to furnishing of inaccurate particulars of income.
ITAT Delhi held that plausible approach adopted by AO cannot be labeled as erroneous. Hence, revisionary order under section 263 of the Income Tax Act is unsustainable in law.
ITAT Delhi held that Tax Residency Certificate (TRC) is statutorily the only evidence required to be eligible for the benefit under the DTAA. Accordingly, benefit of India-Mauritius DTAA duly available.
ITAT noted that the explanations provided by the assessee concerning the withdrawals, deposits, and utilization of cash over time were satisfactory. The Tribunal acknowledged the Indian socio-economic constructs where holding cash, especially in rural society, is common.
CBDT introduces Form 10IEA for FY 23-24, allowing taxpayers to opt in or out of new tax regime via Notification No. 43/2023-Income Tax Dated: 21st June, 2023
Gain insights into South Africa’s taxation system for the 2023 filing season. Understand individual income tax rates, the process of registration with the South African Revenue Service (SARS), and updates for the upcoming season. Explore the nuances of multiple income sources, unique registration methods, and the impact on economic development. Stay informed about key dates and changes in the taxation landscape.
Delhi ITAT asserts that mere transactions through a DMAT account or selling shares on stock exchange don’t necessarily rebut Section 68 of Income Tax Act. Understand the full implications of this ruling with our comprehensive analysis.
