Follow Us :

income tax act 1961

Latest Articles


July, 2024 Tax Compliance Tracker: Income Tax & GST Deadlines

Goods and Services Tax : Stay updated with Tax Compliance Tracker for Income Tax and GST. This tracker provides due dates for various tax-related filings a...

June 30, 2024 149082 Views 1 comment Print

Judicial Interpretation of Income Tax Law in India

Income Tax : Introduction to Judicial Interpretation of Income Tax Law in India The judicial elucidation of income tax legislation in India pla...

June 29, 2024 603 Views 0 comment Print

Tax Deducted At Source Under Section 194C on Payment To Contractors

Income Tax : Learn about TDS under Section 194C of the Income Tax Act for payments to contractors. Includes rates, who needs to deduct, contrac...

June 26, 2024 1464 Views 0 comment Print

Section 194S: TDS on transfer of Virtual Digital Assets (VDA)

Income Tax : Understand Section 194S of the Income Tax Act, 1961. Learn about TDS on transfer of virtual digital assets (VDA), thresholds, tax ...

June 24, 2024 1065 Views 0 comment Print

TDS on Purchase of Property: Section 194IA of Income Tax Act, 1961

Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...

June 21, 2024 2295 Views 0 comment Print


Latest News


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 4002 Views 0 comment Print

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3102 Views 0 comment Print

Representation against Proposed Amendment In Section 43B of Income Tax

Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...

June 11, 2024 4872 Views 0 comment Print

Guidance Note on Inventory Valuation under Income Tax Act 1961

Income Tax : Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance...

May 10, 2024 2070 Views 0 comment Print

Live Course on Section 43B(h) by CA Manoj Lamba – Last Few Hours to register

Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...

May 10, 2024 10110 Views 1 comment Print


Latest Judiciary


ITAT Kolkata deletes Addition for Share Capital of Rs. 1.54 Crore

Income Tax : Explore the detailed analysis of ITO Vs Axisline Investment Consultants Pvt. Ltd. case where ITAT Kolkata deleted Rs. 1.54 crore a...

June 30, 2024 126 Views 0 comment Print

Share application amount cannot be added twice in payees & recipients’ hands u/s 68  

Income Tax : ITAT Kolkata held in ITO Vs Happy Structure Pvt. Ltd.  that share application amount cannot be added twice under Section 68 of In...

June 30, 2024 135 Views 0 comment Print

Section 68 addition based on conjectures & surmises not justified: ITAT Kolkata

Income Tax : Satyam Smertex pvt. Ltd. Vs DCIT (ITAT Kolkata): Addition made by AO and confirmed by CIT(A) are based on conjectures and surmises...

June 30, 2024 90 Views 0 comment Print

Alleged circular transactions & Bogus Invoicing: HC upheld validity of reassessment proceedings

Income Tax : Explore the detailed analysis of Chetak Enterprises Ltd. Vs ACIT Rajasthan High Court judgment on reopening assessments under Sect...

June 29, 2024 786 Views 0 comment Print

LTCG on Shares: Assumptions without substantial evidence of error shouldn’t trigger action u/s 263

Income Tax : Read the detailed analysis of the ITAT Delhi verdict in Pooja Mittal vs PCIT case, addressing the issues of Long Term Capital Gain...

June 27, 2024 303 Views 0 comment Print


Latest Notifications


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 837 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 3501 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 25374 Views 0 comment Print

Notification under Section 80G(2)(b) for Shree Ramanuj Kot Trust Indore

Income Tax : Explore the notification under section 80G(2)(b) of the Income Tax Act 1961 for Shree Ramanuj Kot Trust in Indore. Details of vali...

April 23, 2024 567 Views 0 comment Print

CBDT notifies designated authority for sharing information with Uttar Pradesh Govt

Income Tax : Explore the Central Board of Direct Taxes order under section 138(1)(a) of the Income-tax Act, 1961, regarding information sharing...

March 27, 2024 474 Views 0 comment Print


Alignment of Section 286 of Income Tax Act with OECD BEPS Action Plan 13

April 26, 2024 555 Views 0 comment Print

Explore the alignment of Section 286 of the Income Tax Act 1961 with OECD BEPS Action Plan 13, emphasizing Country-by-Country Reporting (CbCR) requirements and implications.

Incorrect Section Mention No Ground for Income Tax Addition Deletion: ITAT Mumbai

April 26, 2024 4746 Views 0 comment Print

Despite legal contention that addition under section 69 was erroneous, ITAT emphasized necessity of substantiating genuineness of transactions, rather than merely disputing section under which additions were made.

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

April 25, 2024 25374 Views 0 comment Print

Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 1961. Read the detailed analysis here.

Form 10B Filing delay due to Auditor Oversight is reasonable Cause: Bombay HC

April 25, 2024 6306 Views 0 comment Print

Learn how the Bombay High Court ruled on Al Jamia Mohammediyah Education Society vs. CIT regarding trust management’s delay in filing returns due to auditor error.

Contribution to Compensatory Afforestation Fund is revenue expenditure: Bombay HC

April 25, 2024 237 Views 0 comment Print

Bombay High Court ruling favors Tata Steel, allowing its Rs. 212.52 crores contribution to Compensatory Afforestation Fund as revenue expenditure, dismissing IT department’s appeal.

Understanding Slump Sales: A Comprehensive Guide

April 24, 2024 1980 Views 0 comment Print

Learn about the meaning of slump sale, its framework under the Income Tax Act 1961, constituents of a valid slump sale, and tax implications including direct and indirect taxes

Income Tax Act 1961: Features and Objects

April 24, 2024 921 Views 0 comment Print

Explore the features and objectives of the Income Tax Act, 1961 in India. Understand its comprehensive laws, objectives, and significance in taxation.

Whether Issuance of notice u/s section 263 after new Faceless Assessment Scheme justified?

April 23, 2024 3747 Views 0 comment Print

Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes efficacy in curbing shortcomings.

HC Sets Aside Income Tax Order Due to Technical Glitch Preventing Petitioner’s Participation

April 23, 2024 462 Views 0 comment Print

Kerala High Court nullifies Income Tax assessment order for 2016-17 after petitioner couldn’t attend video conferencing due to technical issue. Full judgment analysis.

Notification under Section 80G(2)(b) for Shree Ramanuj Kot Trust Indore

April 23, 2024 567 Views 0 comment Print

Explore the notification under section 80G(2)(b) of the Income Tax Act 1961 for Shree Ramanuj Kot Trust in Indore. Details of validity and implications provided.

Search Post by Date
June 2024
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930