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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 149280 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 633 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 1479 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 1074 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 2325 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 4086 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 60 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 165 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 156 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 99 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 816 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 25383 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 477 Views 0 comment Print


Violation of Section 269SS by Excess Capital Withdrawal in cash from Partnership

February 18, 2024 3054 Views 0 comment Print

Kalpana Sunil Vaid’s appeal against a penalty under Section 271D of the Income Tax Act for loans taken from partnership firms is dismissed by ITAT Ahmedabad.

Kerala HC Dismissed writ alleging lack of hearing notice; As notices were sent to provided email IDs

February 18, 2024 1089 Views 0 comment Print

Kerala High Court dismisses Sham Basheer’s writ petition against the assessment orders due to alleged lack of hearing notice, citing notices sent to provided email IDs.

Sale outside India; No tax liability in India: ITAT Delhi

February 18, 2024 840 Views 0 comment Print

Read the detailed analysis of the ITAT Delhi order regarding the taxability of income from offshore supplies of plants and equipments in the case of Air Liquide Global EC Germany GMBH Vs ACIT.

Amendment regarding MSME under Section 43B of Income Tax Act,1961

February 18, 2024 4551 Views 0 comment Print

Explore the MSMED Act, 2006, and Income Tax Act amendments ensuring timely payments to MSMEs and tax benefits for compliance. Understand key provisions and impacts.

Draft Assessment Order not served: SC directs AO to remand matter to AO

February 17, 2024 1326 Views 0 comment Print

Explore the Supreme Court judgment on National Faceless Assessment Centre vs Automotive Manufacturers. Learn about the breach of natural justice, Section 144B implications, and the modified ruling remanding for a fresh Assessment Order.

What is Tax Loss Harvesting and how it works in India?

February 17, 2024 2541 Views 0 comment Print

Understand tax loss harvesting in India: a strategy to minimize taxes on investment gains by offsetting losses against gains as per Income-tax Act provisions.

No disallowance for not deducting TDS on minimum hotel booking guarantee expense

February 16, 2024 1023 Views 0 comment Print

ITAT Delhi allows Oravel Stays’ appeal against CIT(A)’s order, removing disallowance under section 40(a)(ia) for not deducting TDS on minimum guarantee expense.

No Tax on Salary for Non-Resident Assessee Rendering Services Outside India: ITAT

February 15, 2024 738 Views 0 comment Print

Explore the ITAT Delhi ruling on Devi Dayal Vs DCIT regarding taxation of salary earned by a non-resident outside India. Detailed analysis and conclusion provided.

Loss or low profit cannot be reason for exclusion of comparables for computing ALP: ITAT Mumbai

February 15, 2024 294 Views 0 comment Print

ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not correct. Accordingly, TPO directed to include these comparables and re-compute the Arm’s Length Price (ALP).

ITAT: Interest from Co-op Banks Not Same as Co-op Society, Denies 80P(2)(d) Deduction

February 15, 2024 1863 Views 0 comment Print

ITAT Bangalore rules against deduction under section 80P for interest income from Co-operative Banks, impacting Bantwal Public Employees Consumers Society.

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