Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
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...
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...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
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...
Understand Section 44BB of the Income Tax Act 1961 and its implications for non-resident businesses providing services or facilities in connection with mineral oils.
Explore the impact of Finance Act 2022 on Health and Education Cess in business expenditure. Insights on legal provisions, deductibility under Section 37, and retrospective applicability.
Discover the nuances of deposits with a co-operative society by a charitable trust under Section 11(5) of the Income Tax Act, 1961. Learn from judicial rulings for compliant investments.
Explore the intricacies of transactions by charitable trusts with specified persons under Section 13(3) of the Income Tax Act, 1961. Learn about exemptions, restrictions, and compliance to ensure lawful dealings.
Explore Section 119A of the Income Tax Act and its implications. Understand the Taxpayer’s Charter and the guidelines set by the Board for its administration.
The section 269SS and 269T of the Income Tax Act, 1961 prohibits acceptance / repayment of loan, deposit, specified sum etc. otherwise than by an account payee cheque, account payee bank draft, ECS through bank account etc. The violation of the above provisions may attract stringent penalty under section 271D and 271E respectively. The clause […]
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 27th September, 2022 PRESS RELEASE The Finance Minister’s Award 2022 presentation ceremony held by the Income Tax Department at Delhi The Finance Minister’s Award 2022 presentation ceremony was held by the Income Tax Department today at Kedarnath Sahni Auditorium, […]
a. Rule no.132 shall come into force from the 1st day of October, 2022. b. An application requesting for re-computation of total income of the previous year without allowing the claim for deduction of surcharge or cess, which was claimed and allowed as deduction u/s 40 of the Act in the said previous year as stood before such retrospective amendment, shall be made in Form No.69.
Find out which clause of the tax audit is applicable – 44AB(a) or 44AB(e) – for businesses with a turnover between Rs. 1cr – 2cr.
CBDT specifies that for deciding deferment of appeals before Appellate Tribunal or jurisdictional High Court by AO under section 158AB of Income Tax Act, a Collegium shall be constituted
