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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 149310 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 1077 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 2331 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 4113 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 66 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 168 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 159 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 822 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


Section 153A & 153C of Income Tax Act: Analysis & Implications

February 8, 2024 5946 Views 0 comment Print

Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from court rulings and expert interpretations.

Addition of Annual let out value of unsold flats held as stock unsustainable: ITAT Mumbai

February 8, 2024 972 Views 0 comment Print

ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.

GSMA vs DCIT: ITAT Rules No Royalty on IMEI Database Fees

February 8, 2024 318 Views 0 comment Print

ITAT Delhi rules in favor of GSMA Limited. Administrative fees for IMEI database access not deemed royalty. Detailed analysis of the order and tax implications.

Section 43B(h) Deduction Allowed only on Payment Basis

February 7, 2024 4608 Views 0 comment Print

Explore Section 43B(h) of the Income Tax Act, focusing on deduction allowances only on payment basis for payments to Micro & Small Enterprises. Analysis, implications, and compliance explained.

CBDT notifies Tax Information Exchange Agreement: India-Samoa

February 7, 2024 810 Views 0 comment Print

Explore implications of Notification No. 21/2024 from Indias Ministry of Finance regarding the tax information exchange pact with Samoa. Learn more here.

Addition u/s 68 unjustified as genuineness of transaction proved with evidence: ITAT Kolkata

February 7, 2024 3153 Views 0 comment Print

ITAT Kolkata held that addition u/s. 68 as unexplained cash credit unjustified as assessee has filed all the evidences concerning transactions to establish the identity and creditworthiness of the lenders and to prove the genuineness of the transactions.

Tick-Tock! Is Your Tax Clock Running Out on MSME Payments?

February 7, 2024 2070 Views 0 comment Print

Learn how recent tax code amendments (Section 43B(h)) impact businesses’ deductions for Micro and Small Enterprise (MSE) payments. Don’t let delays catch you off guard!

Faceless Tax Assessment: Impact, Benefits & Redressal Measures: Govt. Response

February 7, 2024 843 Views 0 comment Print

Explore the impact of faceless tax assessment, benefits, and government’s steps to address taxpayer grievances. Get insights into tax collection trends.

Tax Payers In The Country

February 7, 2024 654 Views 0 comment Print

Explore the Ministry of Finance strategies to boost the number of taxpayers in India. Learn about initiatives like pre-filling tax returns and simplification of tax processes.

Conversion of Limited Liability Partnership to Company

February 7, 2024 2865 Views 0 comment Print

Learn the step-by-step process of converting an LLP into a Private Limited Company, including legal aspects, tax implications, and post-conversion considerations. Understand the benefits and procedures involved.

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