India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc
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 : Dive into the essentials of Form 15CA & 15CB, requirements, penalties for non-compliance, and exemptions. Learn how to ensure tax ...
Income Tax : Learn how online gaming habits can lead to income tax scrutiny notices under Section 143(2) of the Income Tax Act, 1961. Understan...
Income Tax : Learn about the intricacies of income tax calculations with and without deductions. Explore tax slabs, deductions, and their impac...
Income Tax : Explore the effects of automation on taxpayers and the Income Tax Department. Discover the challenges, benefits, and areas for imp...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- SundayÂ...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...
Income Tax : CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2...
Income Tax : The Advocates’ Tax Bar Association, a registered association under the Societies Act, has written a letter to the Minister o...
Income Tax : Kerala High Court overturns rejection of Snehatheeram Charitable Trust's application for 80G certificate under Income Tax Act, 196...
Corporate Law : Karnataka High Court considers income variations in compensation assessment. Detailed analysis of Jayashree Vs Mahaningappa & Othe...
Income Tax : ITAT Delhi's order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, c...
Income Tax : Explore the Coastal Ceramics vs Union of India case where AP High Court rules that an interest-free refundable security deposit fo...
Income Tax : Read the Kerala High Court judgment on Covenant Stones vs CIT, where the writ petition challenging the conditional stay on tax dem...
Income Tax : Notification No. 38/2024-Income Tax: Central Government approves Amul Research and Development Association for tax benefits under ...
Income Tax : Explore Notification No. 13/2024 by the Ministry of Finance, Central Board of Direct Taxes. Learn about the summoning of witnesses...
Income Tax : Explore the key amendments in Income Tax Rules, 1962, effective from April 2023. Detailed analysis of ITR-7 Forms modifications an...
Income Tax : Read Notification No. 56/2023 under the Income Tax Act, 1961, specifying the details of a zero coupon bond issued by REC Ltd. Lear...
Income Tax : The Ministry of Finance has issued Notification No. 52/2023-Income Tax, Dated : 20th July, 2023 under section 10(34B) of the I...
How to repatriate the amount from NRO account to NRE account in compliance with Income tax Act, 1961 and Foreign exchange management Act, 1999? 1. Whether a resident relative (Father) can deposit money in his son’s Account? Yes, a resident relative (father) can deposit money. 2. What would be tax implication in respect of question […]
OECD published a report on the issue of ‘Base Erosion & Profit Shifting’, in which they set out 15 BEPS action plans to tackle the issue of base erosion and profit shifting. Since then OECD and G20 have continued to work on BEPS action through inclusive framework.
Association of Tax Lawyers (ATL)has requested Prime Minister of India For Induction of Tax Advocates As Advisors In GST Council, CPC Processing Center Banglore & CPC E-Filling (Vaishali Ghaziabad). ASSOCIATION OF TAX LAWYERS (Regd.-Delhi) TO, THE HON’BLE PRIME MINISTER OF INDIA, SOUTH BLOCK, RAISINA HILL, NEW DELHI — 110011 REPRESENTATION REQUEST FOR INDUCTION OF TAX […]
Central Government, in consultation with the Chief Justice of the High Court of Manipur designates Special Court in the Manipur under Section 280A(1) of Income Tax Act 1961 vide Notification No. 124/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Death and taxes are inevitable. Certainly, there is no exemption from tax on death of a person. Tax planning is required even in cases of succession. This undoubtedly expands the arena of tax professionals and creates new horizons.
In this article we are going to discuss a problem, whether Penalty/Penal Interest levied on any organisation is allowed as deduction to the assessee under provisions of Section 37(1) of the Income Tax Act, 1961.. PROBLEM: M/s. ABC Limited has been penalised under provisions of GST Act, 2017 to the tune of Rs. 50,000/- as […]
Section 80P: Deduction in respect of Income of Co-operative Societies In case of all co-operative societies, except co-operative banks (excluding a primary agricultural credit society or a primary co-operative agricultural and rural development bank), full deduction is allowable in respect of the following income: A.Where 100% deduction is allowed I 100% of the profits, included […]
This e-BOOK is an attempt to summarize Important topics of INCOME TAX ACTÂ and present it as a quick ready reckoner. E-book is result of Notes which I have been preparing as a quick summary throughout the last 10 years.
Section 11: Property held for charitable purposes- Attempt to promote the trade, commerce and manufacturers of India without seeking to make profits for its members is charitable purpose -Denial of exemption is held to be not justified. [S. 2(15)] Case Name: Bombay Chamber of Commerce vs ITO (E) (ITAT Mumbai), Mumbai, Appeal No: ITA No. […]
Section 192 of the Income Tax Act, 1961 TDS on Salary – An Employer Approach This article might be useful for employers by guiding them regarding deducting TDS on salary income payable to their employees in all aspects. I am hereby addressing frequently arising doubts among the employers with respect to salary TDS. Here we, […]
