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...
Explore the intricacies of Section 40A(3)/(3A) – Cash Expenditure Restrictions. Understand conditions for disallowance, limits, and exceptions. Stay informed to navigate tax regulations effectively.
Embrace a cashless future! Explore the evolution of money from barter to digital currency. Discover the advantages of cashless transactions, from reducing theft risks to tracking black money and fostering transparent economies. Say no to cash transactions, say yes to a secure financial landscape.
Income Tax Act, 1961 Compliance Handbook as applicable for Fy 2022-23 (AY 2023-24) contains update on Tax Rates for FY 2022-23 & AY 2023-24, Residential Status and Scope of Total Income, Advance Tax, Tax Deducted at Source (TDS)
Understanding Income Tax implications in unregistered Joint Development Agreements (JDA). Explore the tax challenges pre-Finance Act 2017 and the impact of Section 45(5A) introduced to ease hardships for landowners. Stay informed on taxation aspects in property development.
Understand the allowability of donations as an expenditure under Income Tax regulations. Learn about the criteria, commercial expediency, and the connection between donations and business activities. Ensure compliance for eligible deductions.
Explore the latest amendments in Income Tax Act, 1961! Understand the implications of Finance Act, 2022, specifically the changes in section 12AB. Learn about ‘Specified Violations’ and the potential cancellation of registration for non-compliance. CA Amit Jindal, Legal Head at Neeraj Bhagat & Co. Chartered Accountants, provides insightful commentary on the amendments, CBDT clarifications, and procedural details. Stay informed to navigate the complexities.
Discover insights in the second edition of Know When to Say No to Cash Transactions E-Book. Explore chapters on tax implications, cashless transactions, real estate, TDS provisions, agriculture sector, charitable trusts, and more. Gain valuable knowledge for financial transactions.
Explore the detailed written submissions in the case of Sh. XXXXXX, challenging the penalty u/s 271D for accepting part cash in the sale of agriculture land. The appellant, an uneducated, rural individual, faced ill health and genuine reasons to accept cash. The penalty, imposed without fair hearing and ignoring reasonable causes, goes against judicial precedents. Discover the legal intricacies and practical challenges, emphasizing that penalty provisions should not be applied mechanically.
Income tax Department maintains websites, which provide all the information to the taxpayers. At the same time, it archives the returns/documents of the taxpayers. Website of Income tax Department has won several awards for its useful and up to-date content. It facilitates grievance redressals.
Author discussed a ruling on non-obstante clause. It has potential to become benchmark ruling on interpretation of non-obstante clause.
