Income Tax : The framework clarifies that advance tax becomes mandatory when estimated liability exceeds ₹10,000, with specific exemptions fo...
Income Tax : This explains when and why a demand notice for advance tax is issued based on estimated income. It highlights the obligation to pa...
Income Tax : The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small l...
Income Tax : Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment pro...
Income Tax : Made a mistake while paying Advance Tax or Self-Assessment Tax? This guide explains how to correct wrong Assessment Year, Head Cod...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : As of September 17, 2024, direct and advance tax collections show significant growth compared to the previous fiscal year....
Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...
Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...
Income Tax : Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a ...
Income Tax : ITAT held that section 249(4) cannot be invoked where no taxable income arises in India. Appeals must be decided on merits rather ...
Income Tax : ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability ...
Income Tax : ITAT Indore held that Section 249(4)(b) does not apply in reassessment proceedings where no advance tax obligation arises. The dis...
Income Tax : ITAT Raipur held that Section 249(4)(b) applies only where advance tax was legally payable. In absence of taxable income and advan...
Income Tax : The Tribunal held that Section 249(4)(b) does not apply in reassessment where no advance tax liability existed, setting aside dism...
Income Tax : Extension of date of Direct Tax payment in respect of third installment of advance tax for FY 2019-20 Considering the large-scale ...
Explore an e-campaign by the Income Tax Department on significant transactions and advance tax payments. Learn about advance tax, payment methods, and late payment interest.
Learn about crucial tax compliances to complete before 31st March 2024 to avoid future complications. From advance tax payments to reconciliation tasks, ensure timely completion to mitigate losses.
Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to securities market, as reported by one of Reporting Entities. This information comes from a recent tweet by department.
The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance with advance tax payments for the Financial Year 2023-24. This campaign targets individuals and entities engaged in significant financial transactions, urging them to accurately compute and deposit their advance tax liabilities by the deadline of […]
Learn about Advance Tax, a ‘pay as you earn’ system in India. Find out who needs to pay, calculation methods, due dates, and FAQs for hassle-free compliance.
Explore Sections 207 to 219 of the Income Tax Act, 1961, covering Advance Tax provisions, due dates, and in-depth analysis. Understand computation, liability, and payment with detailed insights.
Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interest implications. Navigate the complexities of income tax seamlessly.
Stay ahead of tax obligations! Explore advance tax due dates for FY 2023-24, calculation methods, exemptions, TDS insights, and consequences of non-payment. Be tax-savvy!
Understand how to pay your 3rd instalment of Advance Tax for the Assessment Year 2024-25 before the deadline on 15th December. Detailed guidelines and a practical example provided.
Analysis of the ITAT Mumbai ruling in the case of Damco India Pvt Ltd Vs CIT. Key insights into why the AO must grant advance tax credits overlooked by the taxpayer.
