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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 149211 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 624 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 1473 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 1068 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 2310 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 4053 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


PMLA, 2002: ED can Prosecute Violations of Sections 3 & 4 Based on Predicate Offense

Corporate Law : Detailed analysis of Pirtpal Singh vs Directorate of Enforcement case by Punjab and Haryana HC, regarding PMLA prosecution based o...

June 30, 2024 45 Views 0 comment Print

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 153 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 147 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 93 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 807 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 840 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


Sec 149(1)(a) Limitation of 3 Years Inapplicable for Escaped Income Over Rs. 50 Lakhs

February 22, 2024 1329 Views 0 comment Print

Kerala High Court rules: Limitation period of 3 years under Section 149(1)(a) of Income Tax Act not applicable when income escaped assessment exceeds Rs.50 lakhs. Full judgment analysis here.

Government incentive/Subsidy towards Investment Promotion is capital receipt

February 22, 2024 1074 Views 0 comment Print

ITAT Chennai’s ruling on government subsidies as capital receipts in DCIT Vs Saint-Gobain India Pvt. Ltd., impacting investment promotion.

Gujarat HC Refuses to Interfere with Section 153C Income Tax Notice

February 22, 2024 2286 Views 0 comment Print

Gujarat High Court’s decision on Shyamlal Rupchand Parwani vs ACIT, rejecting interference at the Section 153C notice stage and emphasizing legal procedure.

Service tax not paid before return due date disallowable under section 43B

February 20, 2024 2286 Views 0 comment Print

Explore the ITAT Bangalore decision in the Hubli Electricity Supply vs. DCIT Circle-1(1) case for the assessment year 2010-11. Analysis of TDS, service tax, and more.

Section 80P(2)(a)(i) deduction not allowed if not claimed in Tax Return

February 20, 2024 1095 Views 0 comment Print

Explore the ITAT Mumbai’s ruling on Datta Prasad Sahakari Patsanstha’s appeal against the denial of deduction under section 80P(2)(a)(i) for the assessment year 2011-12.

PCIT’s exercise of Section 263 jurisdiction while issue is pending before CIT(A) is invalid

February 20, 2024 633 Views 0 comment Print

Once an appeal is lodged with CIT(A), the PCIT’s authority to revise assessment under Section 263 is circumscribed – Kathiravan Ananthalakshmi Vs ACIT (ITAT Chennai)

Taxation In Case of Stock Market Transactions

February 20, 2024 4752 Views 3 comments Print

Unlock the intricacies of income tax implications for stock market transactions in India, covering capital gains, F&O trading, and tax audit requirements.

New TDS Compliance for Employers under Section 192 & relevance of Form 12BB

February 20, 2024 2784 Views 1 comment Print

Stay updated with the latest TDS compliance under Section 192 of the I.T. Act, emphasizing the importance of Form 12BB for employers and employees.

Source for making or earning income of payer of FTS outside India is not taxable in India

February 20, 2024 864 Views 0 comment Print

ITAT Delhi held that as conditions prescribed in exception to section 9(1)(vii)(b) stand fulfilled, it cannot be taxed as FTS. Further, the source for making or earning any income of the payer of fee for technical services, in the present case, is outside India, and therefore not taxable in India.

Decoding Section 80D in 2024: Navigating New Tax Regime, Health Insurance Deductions and Medical Billing Insights

February 20, 2024 4800 Views 2 comments Print

Understand Section 80D in 2024: Learn about the new tax regime, health insurance deductions, and gain insights into medical billing.

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