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income tax act 1961

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Analysis of Section 87A and 115BAC(1A) of Income Tax Act, 1961

Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...

July 16, 2024 4257 Views 1 comment Print

Things to Keep in Mind While Disclosing Your F&O Income at the Time of Filing Taxes

Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...

July 9, 2024 1824 Views 0 comment Print

Common ITR Issues and FAQ’s For Filing Return for AY 2024-25

Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...

July 8, 2024 10581 Views 1 comment Print

How to calculate Turnover of Futures & Options for Taxation

Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...

July 8, 2024 6354 Views 0 comment Print

Monthly (July-2024) Legal Obligations + Legal updates for India

CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...

July 4, 2024 28443 Views 1 comment Print


Latest News


File ITR-4 (Sugam) Online for AY 2024-25 FAQs

Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...

July 8, 2024 960 Views 0 comment Print

File ITR-1 (Sahaj) Online for AY 2024-25: FAQs

Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...

July 8, 2024 1458 Views 0 comment Print

All about TDS on Dividend with format of Form 15G, 15H and Declarations

Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...

July 4, 2024 825 Views 0 comment Print

CBDT maintains database of over 76 crore PANs and over 74 lakh TANs

Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...

July 1, 2024 588 Views 0 comment Print

Budget 2024 Proposals: GST & Income Tax Amendments

CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...

June 29, 2024 5289 Views 0 comment Print


Latest Judiciary


Cash deposits during demonetization alone cannot justify income addition

Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...

July 18, 2024 63 Views 0 comment Print

TDS not deductible on Payments which become Taxable Due to Retrospective Amendment

Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...

July 18, 2024 249 Views 0 comment Print

Section 263 revisional order without issuing SCN is void ab initio

Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...

July 17, 2024 114 Views 0 comment Print

Reopening Without New Material & on Mere Change of Opinion invalid

Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...

July 17, 2024 165 Views 0 comment Print

Reassessment cannot be based solely on reevaluating existing facts without new substantive material

Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...

July 17, 2024 153 Views 0 comment Print


Latest Notifications


Section 138(1)(a) of Income-tax Act: Information Sharing with Telangana Government

Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...

July 9, 2024 318 Views 0 comment Print

Section 138 Notification: Agriculture Production Commissioner, Telangana specified

Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...

July 9, 2024 201 Views 0 comment Print

Revised Jurisdiction of DIT Intelligence & Criminal Investigation in Lucknow & Kanpur Notified by CBDT

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...

June 6, 2024 957 Views 0 comment Print

CBDT exempt RBI from Higher TDS deduction under Section 206AB

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...

May 27, 2024 3654 Views 0 comment Print

CBDT Extends Due Dates: Form No. 10A/10AB Filing upto 30th June, 2024

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...

April 25, 2024 25650 Views 0 comment Print


History of Death Taxes & Tales of Some Weird Wills

November 19, 2022 9903 Views 2 comments Print

Explore the history of death taxes, strange wills, and taxation tales from ancient times to the present. Discover how taxes on property and inheritance evolved over centuries

Co-Browsing and how it help Income Taxpayer service – FAQs

November 16, 2022 1056 Views 0 comment Print

Co-browsing, also known as collaborative browsing, allows the Helpdesk agents to collaborate with the taxpayer’s browser in real-time, just at the click of a button. Agents can view and securely co navigate the Taxpayer’s browser screen and guide them interactively to deliver real-time and personalized support.

CBDT designates courts in Himachal Pradesh for Black Money matters

November 11, 2022 756 Views 0 comment Print

Designation of the Courts in the Himachal Pradesh Special Courts for the purposes of section 280A of the Income tax Act, 1961 and section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 vide Notification No. 120/2022 – Income Tax |Dated: 11th November, 2022. MINISTRY OF FINANCE (Department […]

Summary of section 54EC of the Income Tax Act, 1961

November 9, 2022 10758 Views 0 comment Print

Understand section 54EC of the Income Tax Act, 1961: learn about the tax benefits of investing capital gains in certain bonds.

Basic guide to TDS & TCS for Vendors selling products or providing services through E-commerce operators

November 8, 2022 4860 Views 0 comment Print

A comprehensive guide to Tax Deduction (TDS) and Tax Collection (TCS) for vendors selling products and providing services through E-commerce operators.

Income Tax, GST & Other Compliance Due Dates- November-2022

November 3, 2022 20601 Views 1 comment Print

Stay on top of your compliance obligations with our comprehensive calendar for November 2022. Know the due dates for income tax, GST, and other important forms.

51 FAQs on Advance Pricing Agreements (APAs) in India

November 2, 2022 4188 Views 0 comment Print

Learn about the special features of Advance Pricing Agreements (APAs) in India, annual compliances, revision, cancellation, and more in this detailed guide

Late Fees, Interest, threat to levy penalty or to initiate prosecution – Tax Terrorism

October 21, 2022 19374 Views 6 comments Print

People are held hostage in a cyber-world with ransom in the form of Late Fees and Interest and a threat to levy penalty or to initiate prosecution. No other words better describe the situation than the term Tax Terrorism.

Liability of directors of private company under section 179 of Income Tax Act & recent case law

October 21, 2022 16905 Views 0 comment Print

A private limited company is a separate legal entity and separate from its members. The liabilities of its members are limited to the extent of subscribed share capital.

TDS deduction under wrong section – No disallowance of expenses – Section 40(a)(ia)

October 21, 2022 11676 Views 1 comment Print

Understanding TDS deduction under Section 40(a)(ia) of the Income Tax Act. Learn about the disallowance of expenses and the consequences of non-compliance.

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