Income Tax : Learn about Form 12BAA, introduced for employers to credit TCS for employees, ensuring accurate TDS calculation and easing tax com...
Income Tax : Discover why paying taxes is crucial for national development and how it contributes to public services and infrastructure....
Income Tax : Learn about rectifying mistakes in income tax orders under Section 154, including types of rectifiable orders, responsible authori...
Income Tax : Learn about Income Tax Returns (ITR) forms for different taxpayers, filing methods, and requirements. Includes details on ITR-1, I...
Income Tax : Explore conflicting rulings on whether bonafide mistakes in disclosing foreign assets under the Black Money Act can avoid penaltie...
Corporate Law : CBDT starts a campaign for AY 2024-25 to assist taxpayers in accurately reporting foreign assets and income in ITR under Black Mon...
Income Tax : CBDT sets transfer pricing tolerance range at 1% for wholesale trading and 3% for other transactions for AY 2024-25, providing cla...
Income Tax : CBDT simplifies compounding procedures under the Income-tax Act, 1961 by reducing charges, removing limits, and easing filing requ...
Income Tax : CBDT forms a committee to review the Income-tax Act and invites public suggestions on simplification and compliance via the e-fili...
Income Tax : Supreme Court disposes of 573 direct tax cases due to increased appeal limits from the Union Budget 2024-25, reducing tax litigati...
Income Tax : The Orissa High Court addresses TDS credit denial in Malay Kar Vs Union of India. Issues include mismatched Form 26AS entries and ...
Income Tax : Analysis of Hyundai Rotem Vs ACIT case by ITAT Delhi on tax assessments, time limits under Section 144C, and procedural compliance...
Income Tax : Punjab & Haryana HC invalidates SCN under Section 148 of the Income Tax Act due to the absence of faceless assessment mandated und...
Income Tax : ITAT Chennai dismissed the Revenue’s appeal in the Madras Cricket Club case, citing a CBDT circular due to the tax effect being ...
Income Tax : ITAT Bangalore condones a delay in tax audit filing due to trustee's illness, directing further assessment per CBDT’s order for ...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : CBDT extends the due date for filing income tax returns under section 92E for AY 2024-25 from 30th November 2024 to 15th December ...
Income Tax : The Ministry of Finance has notified the transfer of capital assets from NLCIL to NIRL under the Income-tax Act, effective from th...
Income Tax : CBDT grants SKAN Research Trust approval as a research association for scientific research under Section 35 of the Income Tax Act,...
Income Tax : CBDT Circular No. 17/2024 outlines guidelines for condoning delays in filing Forms 10-IC and 10-ID for AYs 2020-21 to 2022-23 unde...
The Orissa High Court addresses TDS credit denial in Malay Kar Vs Union of India. Issues include mismatched Form 26AS entries and employer non-compliance.
Analysis of Hyundai Rotem Vs ACIT case by ITAT Delhi on tax assessments, time limits under Section 144C, and procedural compliance for international taxation cases.
The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25.
Punjab & Haryana HC invalidates SCN under Section 148 of the Income Tax Act due to the absence of faceless assessment mandated under Section 144B.
ITAT Chennai dismissed the Revenue’s appeal in the Madras Cricket Club case, citing a CBDT circular due to the tax effect being below the threshold of Rs. 60 lakh.
ITAT Bangalore condones a delay in tax audit filing due to trustee’s illness, directing further assessment per CBDT’s order for tax benefit eligibility.
CBDT extends the due date for filing income tax returns under section 92E for AY 2024-25 from 30th November 2024 to 15th December 2024.
ITAT Chandigarh dismissed the appeals filed by the revenue since the tax effect involved in the same is less than prescribed monetary limit of Rs. 60 lacs in terms of the CBDT Circular No.09/2024 dated 17.09.2024.
The Ministry of Finance has notified the transfer of capital assets from NLCIL to NIRL under the Income-tax Act, effective from the date of publication.
Tribunal in the case of Yegneswari General Traders vs. ITO has held that based on CBDT circular no. 452 it is clear that Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf of their principals.
