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Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
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 : 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 Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
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...
Navneet Dutta Vs ITO (ITAT Delhi) Assessee filed his original return of income on 10.01.2012 for the AY 2011-12 and in the said return due to clerical/typographical error, the assessee could not claim loss from house property. Later on the assessee revised the return of income on 18.06.2012. Assessee has filed rectification application u/s 154 […]
Learn why cash withdrawn and redeposit is not considered income from undisclosed sources. Explore draft submissions backed by key judgments and legal insights.
Assessing Cloud Computing Tax Dispute – AWS Inc. challenges ITAT Delhi on Royalty & FTS, seeks conditional stay on outstanding demands.
Non-specification of limb of the notice would render section 271(1)(c) penalty proceedings invalid. ITAT held that notice u/s 271(1)(c) is omnibus notice, thus defective which goes to the root of the matter. Accordingly the appeal of the assessee stands allowed.
While processing of TDS statement, the late fee, if any shall be computed in accordance with provisions of Section 234E of the Act. As a corollary, prior to amendment under Section 200A of the Act, levy of fee under Section 234E during processing of TDS statement is not tenable.
Mere submission of amendment by post to Charity Commissioner cannot be considered to be due registration with Charity Commissioner. What is required to be shown by assessee is that amendment carried out to trust deed has been registered with Charity Commissioner and his approval has been obtained.
No Sec. 68 additions solely based on MOU found during search In Premises Of Third Party if assessee wasn’t even remotely connected to MOU
Madras High Court set aside the impugned order as it was based on one basis that writ petitioner’s case is not covered under instruction no. 1914 dated 02.12.1993.
Shapoorji Pallonji Solar Holdings Private Limited Vs ITO (Madras High Court) Writ Petition- Remedy Under Article 226 of Constitution of The India Constitutes An Extraordinary Remedy Assessee challenged the assessment order mainly on the ground of violation of principles of natural justice urging the point that the order had travelled beyond the scope of show-cause […]
Filing income tax is a crucial task for every earning individual or entity, whether it is a business or an individual. It is a legal obligation that is essential to be fulfilled within the specified time limit. In this article, we will discuss how to file income tax and the steps that need to be taken for successful filing.
