Goods and Services Tax : Explore Income Tax systems, from Form 26AS and AIS for tax data to CPC-ITR and faceless assessments ensuring transparency and effi...
Income Tax : Learn about common income tax notices for salaried individuals, their implications, and steps to handle them effectively. Avoid le...
Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...
Income Tax : Comprehensive glossary of key terms and definitions under the Income Tax Act, 1961, aiding taxpayers in understanding essential ta...
Income Tax : Understand key aspects of advance tax, including compliance, payment due dates, revisions, and liabilities. Learn who is exempt fr...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
Goods and Services Tax : Bikaner Tax Consultants Association seeks an extension of the Income Tax Return filing deadline due to ITD portal glitches and iss...
Income Tax : ICAI addresses issues with Form 26AS/TIS/AIS and ITR filing glitches, urging CBDT for timely resolution to aid taxpayers in meetin...
Income Tax : Directorate of Income Tax (Systems) has released Handbook on Annual Information Statement (AIS). This will explain How the new For...
Goods and Services Tax : There is a great necessity of Integration of Income E-filing Portal with GST portal. The step taken by Central Government with res...
Income Tax : ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examina...
Income Tax : Addition against unexplained cash deposit of ₹49.50 lakh was remanded back to AO for verification if the deposits were from busi...
Income Tax : Assessee also pointed out that the income from these credits was included in its accounts for the year and taxed accordingly. A cl...
Income Tax : ITAT Ahmedabad directs AO to verify Form 26AS discrepancy after CIT(A) allowed ₹168.61 crore TDS credit. Revenue's appeal dismis...
Income Tax : ITAT Pune remands the case of Prakash Dipchand Kapadnis, instructing NFAC to reconsider the addition of gross receipts instead of ...
Income Tax : ADVISORY NO.: 45 Dated:- 14.07.2022 0/o PCDA(0) Pune, Public Relation office (PRO) Subject: Income Tax Demand Notice under section...
Income Tax : CBDT authorizes Director General of Income-tax (Systems) to upload information relating to Foreign remittance information reported...
Service Tax : Representations have been received from various trade bodies and associations regarding instances of indiscriminate issuance of de...
Income Tax : Director-General of Income-tax (Systems) to upload information relating to GST return, which is in his possession, in the Annual I...
Income Tax : The new Form 26AS is the faceless hand-holding of the taxpayers to e-file their income tax returns quickly and correctly. From thi...
ITAT Kolkata orders reassessment of Mohammed Meraj’s case due to the lack of substantiating evidence regarding a mismatch in Form 26AS and Profit & Loss Account in TDS deduction.
In the recent case of Sandhya Agarwal Vs ACIT, ITAT Kolkata orders re-adjudication due to a mismatch between contract receipts in Form 26AS and Income Tax Return.
ITAT Mumbai held that addition on account of mismatch between the income reported under form number 26AS and the income recorded in the books of accounts unsustainable since the mis-match duly explained.
Avoid common mistakes while filing your ITR. Select the correct form, match income with Form 16 and Form 26AS, disclose necessary details, claim proper deductions, and verify your return promptly. Seek expert advice for accurate tax planning.
Gauhati High Court held that writ petition not entertained as alternative and efficacious remedy is available to the petitioner. Accordingly, tax payer directed to avail statutory remedy, which is more efficacious.
ITAT Raipur held that payment towards purchase of beer from the State Government is an exception to the applicability of section 40A(3). However, brushing aside the said objection/ response filed by the assessee had rendered entire mechanism provided u/s 143(1)(a) as redundant and otiose.
CESTAT Kolkata held that the extended period of limitation cannot be invoked in subsequent show cause notice, where the Department has earlier issued Show Cause Notice in respect of the same subject-matter.
ITAT Kolkata held that addition towards difference between figure of gross receipts reported and figure reported in Form 26AS is unsustainable as the difference is merely because figure reported in Form 26AS was inclusive of service tax component.
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ITAT Mumbai held that genuine TDS credit to Rinfra cannot be denied merely because credit of TDS didn’t reflected in Form 26AS as on account of transfer of business, Adani Electricity Mumbai Ltd. (AEML) transferred the income and TDS credit to Reliance Infrastructure Ltd. (Rinfra).
