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Income Tax : Understand the significance of filing Income Tax Returns (ITR), explore various forms, eligibility criteria, and tax planning stra...
Income Tax : Explore the illogical disallowance of business expenses by assessing authorities, the burden on taxpayers, and the questionable lo...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Ensure a hassle-free Income Tax Return (ITR) filing for AY 2024-25 with our checklist. Learn about necessary documents, deadlines,...
Income Tax : Learn about Section 43B(h) of the Income Tax Act and its implications for timely payments to Micro and Small Enterprises (MSEs) in...
Income Tax : CBDT achieves a record 125 APAs in FY 2023-24, marking a 31% increase. Learn about the significance and impact on transfer pricing...
Income Tax : Discover how the Income Tax Department's initiative to open filing on day one of the financial year streamlines processes, boosts ...
Income Tax : Ministry of Finance addresses misconceptions regarding CBDT's supposed special drive to reopen cases related to HRA claims, clarif...
Income Tax : CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year...
Income Tax : Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regar...
Income Tax : Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Sec...
Income Tax : ITAT upholds PCIT's decision on erroneous assessment orders in tax evasion case. Changela's appeals dismissed as inadequate inquir...
Income Tax : Analyzing the case of Sunil Dhirubhai Patel vs ITO, where expenses were disallowed despite not being claimed by the assessee, and ...
Income Tax : Yala Construction Co. Pvt Ltd's disallowances upheld by ITAT Delhi include depreciation, interest on loan, commission, and sponsor...
Income Tax : Bombay High Court quashes order under Section 148A(d) of the Income Tax Act, citing insufficient time due to weekends, holidays, r...
Income Tax : Notification No. 38/2024-Income Tax: Central Government approves Amul Research and Development Association for tax benefits under ...
Income Tax : Detailed guidelines from the Central Board of Direct Taxes for the interim action plan FY 2024-25. Learn about key result areas, t...
Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...
Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
The Income Tax Act’s Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most important parts. Since its enactment, Section 80 has undergone multiple amendments and additions.
Here we will discuss few of the consequences of non-filing or delay in filing of ITR when you are liable to do so under the Income-tax Act (“the Act”) which will lead to paying higher taxes (including interest, penalty, Delay fees ) or face legal action by the Government: 1. Non-carry forward of losses – […]
In Med-Link Devices Pvt Ltd vs DCIT case, ITAT directs re-adjudication as taxpayer fails to provide detailed expenditure of Rs. 35.2 lakhs claimed as business promotion expenses.
Read the detailed analysis of ITAT’s decision directing TDS exemption verification for FSL Projects Limited Vs DCIT. Full text available.
Bombay High Court directs disciplinary action against AO for not deciding on an individual’s rectification application for six years under the Income Tax Act.
Read the detailed analysis of Madras High Court’s decision quashing an audit order due to non-consideration of petitioner’s reply. Understand the implications and legal precedents.
Learn about the income tax declaration process for employees, including Form 2BB submission, importance, and verification of supporting documents. Explore common tax-saving investments and understand the declaration format for opting the old or new tax regime.
Understand the latest tax amendments with the new default scheme under section 115BAC. This comprehensive guide simplifies the procedures, forms, and eligibility criteria for seamless tax compliance.
Explore the Rajasthan High Courts notice in the case of Newage Laminators Pvt Ltd vs Union of India challenging the vires of section 7 TOLA. Stay informed about this legal challenge
Understand Form 10AB under the Income-tax Act, 1961 for renewing or obtaining tax exemption benefits for trusts/NGOs. Learn about timelines, required documents, and the filing process.
