Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
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...
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...
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...
Introduction: Equalisation Levy, introduced by the Indian government, aims to tax specific digital services provided by non-resident e-commerce operators. It ensures taxation in India for income derived from digital services. Applicability of Equalisation Levy: Equalisation Levy is governed by Section 165 and Section 165A of the Finance Act, 2016, not the Income Tax Act, 1961. […]
Karnataka High Court held that incorrect claim or erroneous claim would not amount to willful evasion. Further, mere fact of not accurate tax, not exact tax or erroneous tax would not lead to the proceedings under Section 276 of the Income Tax Act.
Delhi High Court in IAS Anil Tuteja alleged to be engaged in movement of unaccounted cash through different channels with regard to various sectors in the state of Chhattisgarh held that conspiracy is an issue of fact which can be proved or disproved only during trial.
Explore significance of Finance Act 2023 amendment to Section 43B of Income Tax Act. Learn how it affects deductions for Micro and Small Enterprises (MSMEs) and its implications.
Explore the ITAT Bangalore ruling in Shaon Paul vs. ITO case. Addition under section 69A upheld due to imprudent retention of a sum for a long period. Details here.
Explore FAQs on the recent amendment to Section 43B of the Income Tax Act, 1961, affecting MSME payments. Learn about applicability, consequences, and practical compliance.
Explore the impact of amended Section 43B(h) under the Income Tax Act, 1961, effective from FY 2023-24. Learn about timely payments to MSME suppliers, disallowances, and the consequences for taxable income.
Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications.
BCP V Singapore FVCI Pte. Ltd. wins against reassessment by ITAT Delhi. Detailed analysis of Rs.203.56 Cr. redemption income dispute. No escapement found.
Explore Geopreneur Realty Private Limited vs Union of India in Bombay High Court. Analysis of the notice under Section 148, reasons for reopening, and the court’s stance on change of opinion in income tax assessments.
