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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


Jurisdictional Submission Required for Continuing Section 148 Notice against Deceased’s Legal Representative

February 1, 2024 555 Views 0 comment Print

Chandreshbhai Jayantibhai Patel Vs ITO (Gujarat High Court): Notice issued to a dead person under Section 148 cannot be continued against the legal representative unless the legal representative submits to jurisdiction without raising objections

Taming the Tax Tiger: India’s Digital Revolution in Tax Administration & Compliance

February 1, 2024 732 Views 0 comment Print

Explore the metamorphosis of India tax landscape through digitalization and artificial intelligence. Uncover the impact, ongoing efforts, and future advancements shaping tax administration and compliance

Empanelment of Cost Accountants for Inventory Valuation under Income-tax

February 1, 2024 756 Views 0 comment Print

Get details on the empanelment of Cost Accountants under Income-tax Act, 1961. Notice issued by the Principal Chief Commissioner of Income Tax, Pune. Apply by 29.02.2024

Income Tax Act, 1961: Sections 207-219 – Advance Tax Provisions & Analysis

February 1, 2024 4506 Views 0 comment Print

Explore Sections 207 to 219 of the Income Tax Act, 1961, covering Advance Tax provisions, due dates, and in-depth analysis. Understand computation, liability, and payment with detailed insights.

MSME Payments and Impact of Section 43B(h) of Income Tax Act

January 31, 2024 3576 Views 1 comment Print

Explore Section 43B(h) of the Income Tax Act 1961 impacting payments to Micro and Small Enterprises. Learn about deductions, tax implications, and compliance for timely payments.

Section 43B(h): PAY timely to Micro / Small Enterprise(s) or Pay Taxes

January 31, 2024 5853 Views 0 comment Print

Explore the impact of Finance Act 2023s Sec 43B(h) amendment. Analysis covers provisions, definitions, due dates, and practical scenarios for timely payments to Micro/Small Enterprises.

ITAT quashes CIT’s order speculating understatement in closing stock without specific findings

January 31, 2024 531 Views 0 comment Print

In a crucial judgment, Calcutta High Court dismisses the appeal against the ITAT decision, upholding the quashing of CIT’s order speculating understatement in closing stock without specific findings. Learn the key details and legal analysis.

Disallowance of MSME Purchase / Expenses under Section 43B(h)

January 31, 2024 75801 Views 4 comments Print

Explore the impact of Income Tax Acts Section 43B(h) on disallowance of expenses from MSMEs. Learn about changes, provisions, and steps for compliance.

Section 271(1)(c) Penalty not imposable on Estimated Bogus Purchase Addition

January 31, 2024 1143 Views 0 comment Print

ITAT Mumbai held in Supertech Construction Company Vs ACIT that penalty notice lacked clarity on grounds for penalty & penalties cannot be levied on additions made on Estimated Bogus Purchase Addition.

Pending assessments abate as per Section 153A when a search takes place: ITAT Delhi

January 31, 2024 771 Views 0 comment Print

In a significant decision, ITAT Delhi quashes assessment order in Rajender Agarwal Vs ACIT case, citing abatement under Section 153A after a search. Detailed analysis of the legal arguments and implications.

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