Income Tax : Explore the tax benefits of a Hindu Undivided Family (HUF) in India. Learn about deductions, exemptions, and potential drawbacks o...
Income Tax : Explore the intricacies of Tax Deducted at Source (TDS) under Section 194A for interest payments other than securities. Learn abou...
Income Tax : Discover the intricacies of Income Tax Returns (ITR) in India, from types of forms to required documents and compliance measures, ...
Income Tax : Learn about Section 44AD, a simplified method to compute business income, excluding some entities. Thresholds and tax implications...
Income Tax : Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn a...
Income Tax : From now on, when you get a gift in kind, valued at more than Rs. 50,000, from your parents or other relatives, make sure you have...
Income Tax : While accepting “Application for allotment of PAN (Form 49A)” if both the addresses (residence and office) are mentioned in th...
Income Tax : Section 80C of the Income-tax Act provides for a deduction of up to Rs. One lakh to an individual or a Hindu undivided family (HUF...
Income Tax : Read the detailed analysis of ITAT Delhi's order regarding capital gains earned from the sale of CCL International shares. ITAT de...
Income Tax : In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don't warrant addition un...
Income Tax : In the case of Dipak Kumar Agarwal Vs Assessing Officer, Allahabad HC rules that the power of the assessing authority to decide on...
Income Tax : Mumbai ITAT clarifies that action under section 153C can't be based solely on survey material. Detailed analysis of the case and i...
Income Tax : In PCIT vs Inderjit Singh Sodhi (HUF), Delhi High Court examines whether interest on compensation is taxable as income from other ...
Fema / RBI, Finance, Income Tax : Provided further that an account opened on behalf of a Hindu Undivided Family prior to the 13th day of May, 2005, shall be closed ...
Income Tax : Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Bo...
Income Tax : The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an im...
ITAT Ahmedabad ruling regarding Section 54 deduction to a Hindu Undivided Family (HUF) for property purchase in an individual’s name. The decision emphasizes the principle against allowing a change of opinion in reassessment proceedings, based on established legal precedents.
Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn about new dates, old regime, and key considerations.
Explore the intricacies of income tax regimes and mandatory filing obligations for individuals below 60 years. Understand old vs. new tax slabs with illustrative examples.
Read the ITAT Chennai ruling in Padam J. Challani Vs ACIT case, directing AO to allow telescoping benefit and delete additions of excess gold and diamond jewellery. Full analysis and implications.
Explore how individuals can avoid TDS deductions under Section 194A of the Income Tax Act if their income falls below taxable thresholds. Learn about Form 15G and Form 15H.
Explore Section 194-Os impact on e-commerce tax compliance. Learn about TDS obligations, rates, and procedures for seamless financial adherence in the digital marketplace.
Learn about Hindu Undivided Family (HUF), its formation, composition, tax benefits, and ways to reduce tax outgo through HUF in this comprehensive overview.
Explore the 2023 rules for Significant Beneficial Owners in LLPs, including compliance, reporting requirements, and impact on stakeholders.
ITAT Delhi held that AO is not justified in adding unsecured loan received u/s. 68 as AO has rejected the evidences furnished by the appellant without establishing falsity of the documents. Further, documents duly proved identities and source of investors.
ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards long term capital gain treating sale of scrip as bogus on the basis of report unearthed in case of third party without any cogent material brought against assessee is unsustainable in the eye of law.
