The income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.
Finance : Explore the valuation requirements across different laws in India, including the Companies Act, IBC, SEBI, RBI, and Income Tax Act...
Income Tax : Explore the distinctions between business and profession, and how sales, turnover, and gross receipts are defined under the Income...
Income Tax : Learn how to respond to a defective return notice under Section 139(9) of the Income Tax Act. Steps for correction and consequence...
Income Tax : Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash cred...
Income Tax : Explore the controversial changes in capital gains tax introduced in Budget 2024. Understand the impact on investors and real esta...
Income Tax : Explore Income Tax Day 2024s history, significance, and key updates from Budget 2024-25, including enhanced deductions and revised...
CA, CS, CMA : KSCAA addresses glitches in the Income Tax portal, highlighting challenges faced by taxpayers and professionals, in a representati...
Goods and Services Tax : CBI arrests a CGST Superintendent for accepting a bribe of Rs. 10,000, while designated courts in Ahmedabad and Madurai sentence f...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Explore the challenges faced by Karnataka State Chartered Accountants Association (R) in processing updated returns under Section ...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...
Income Tax : The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...
Income Tax : ITAT Delhi held that addition towards excess stock merely on the basis of recorded statements and without any corroborative eviden...
Income Tax : Department had challenged the finding of Tribunal on the issue as to whether the income received by the Kerala Cricket Association...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : CBDT issues guidelines for IT verification under Section 144B(5), detailing circumstances for digital and physical checks, effecti...
Income Tax : Explore Notification No. 96/2024 by the Ministry of Finance, detailing income specifics for SAMEER Mumbai under Income Tax Act Cla...
Income Tax : Explore Income Tax Notification No. 94/2024 dated 24th July, 2024, detailing tax exemptions for Punjab Skill Development Mission S...
Income Tax : Facing a delayed income tax refund for AY 2021-22 due to technical issues? The CBDT offers relief! Electronically filed returns wi...
Explore the Kerala High Court’s judgment on IBS Software’s plea for immunity under Section 270AA of the Income Tax Act. Detailed analysis of the rejection and legal implications.
Explore the latest Income Tax Notification No. 106/2023 by the Central Board of Direct Taxes. Learn about the specified person, conditions, and implications for tax exemption.
Delhi High Court dismissed condonation of delay in filing of appeals by revenue in absence of any sufficient cause shown. Court observed that no action is taken against the officers who sit on files and do nothing under presumption that the court would condone delay in routine.
Explore the best tax-saving mutual funds (ELSS) for 2023 with top-performing funds like Quant Tax Plan, SBI Long Term Equity, and more. Maximize returns while enjoying tax benefits under Section 80C
Explore the significance of DIN under CBDT Circular 19/2019 in Income Tax communications. Learn exceptions, consequences, and how to authenticate notices.
Unlock Tax Savings! Explore how strategic investments in under construction properties can lead to substantial benefits, including lower interest expenses, advantageous market values, and tax exemptions under Sections 24 and 80C of the Income Tax Act. Invest wisely for a tax-efficient future
ITAT Pune held that initiation of revisionary proceedings under section 263, based only on the proposal sent by AO for making revision, lacked jurisdiction and hence revisionary proceedings liable to be set aside.
ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.
Relief for Indus Towers as Delhi High Court nullifies Income Tax Assessment Order, citing non-compliance with natural justice. Full analysis of the judgment in Indus Towers Limited vs. ACIT.
Kerala High Court directs the NFAC to expedite the resolution of income tax appeals and stay applications, preventing recovery proceedings on arrears.
