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CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest amendment in the Income Tax Act 1961 by Notification No. 50/2024 issued by the Ministry of Finance. Detailed an...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...
ITAT Ahmedabad held that deduction under Section 80P of Income Tax Act, 1961 not allowable on interest income earned from the nationalized banks.
Gujarat High court held that reasons recorded while issuing notice u/s 148 was that capital gain on sale of property was not reflected in return and hence income has escaped assessment. However, factually, capital gain was already reflected in the return and hence it cannot be said that income chargeable to tax has escaped assessment and hence reopening unsustained.
ITAT Mumbai held that reopening of assessment prior to disposing of the objections filed by the assessee is unsustainable and bad-in-law.
Learn about debt mutual funds, their taxation, and how investors earn returns through dividends and capital gains. Explore the factors that determine tax on debt mutual funds and discover why they can still be a great investment option compared to fixed deposits.
ITAT Mumbai held that membership fee expenses have been incurred for acquisition of individual club membership is not allowable as expenditure in terms of provisions of section 37 of the Income Tax Act.ITAT Mumbai held that membership fee expenses have been incurred for acquisition of individual club membership is not allowable as expenditure in terms of provisions of section 37 of the Income Tax Act.
Bombay High Court held that issuance of notice and all consequential proceedings in the name of a deceased assessee are null and void. Accordingly, order passed thereon is liable to be quashed and set aside.
ITAT Delhi held that TUFS (Technology Up-gradation Fund Scheme) was introduced by the Government to provide subsidy on loan taken for technological upgradation by the units in the textile industry and hence interest reimbursement received by the assessee is a capital receipt.
Dive into the world of Non-Convertible Debentures (NCDs) and understand the taxation implications. Explore the types, features, advantages, and disadvantages. Stay informed to make sound investment decisions.
In present facts of the case, the Hon’ble ITAT observed that since, the assessee is found to be functionally comparable to the business auxiliary service providers, therefore it is established that the assessee has undertaken limited functions and risk in the merchanting trades segment and earns a fixed profit margin.
Allahabad High Court held that the scope of decision u/s. 148A(d) of the Income Tax Act is limited to the existence or otherwise of information which suggests that income chargeable to tax has escaped assessment. The same would otherwise remain subject to reassessment order passed u/s 148 of the Income Tax Act.
