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 updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...
CA, CS, CMA : Check the December 2024 due date calendar for various tax and compliance obligations, including GST, Income Tax, ESI, and Providen...
Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...
Income Tax : Learn how Section 80D offers additional deductions on health insurance premiums for individuals and HUFs. Maximize tax savings und...
Income Tax : Learn about capital gain tax exemptions on property under redevelopment, including eligibility under Section 54 and implications f...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
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 : Madras High Court held that lease rent received from letting out property in industrial park is chargeable to tax under the head â...
Income Tax : ITAT Ahmedabad held that AO had no jurisdiction to initiate proceedings u/s. 153C of the Income Tax Act beyond permissible period ...
Income Tax : Explore the impact of book acceptance or rejection on taxation with insights into grounds for rejection and factors favoring accep...
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 : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...
Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...
Income Tax : Notification 88/2024 amends Income Tax regulations, extending the deadline from March 31, 2024, to March 31, 2025. Updated by CBDT...
Start-up India initiative is one of the pertinent initiatives that every budding entrepreneur should be aware of. It enables the start-up to gain various benefits under Income-tax Act, 1961. The requirement is nothing but registration on the Start-up India portal. However, there are some pre-requisites for being eligible to get registered as a Start-up. Vide […]
First question must come to your mind that is why there is PAN. As you know almost under every taxation law person is identified with a unique number or code allotted under particular taxation law to identify the person and in the same manner under Income-tax law person is identified with PAN which is income […]
Any income or loss that arises from the trading of Futures and Options is to be treated and considered as business income or business loss. As such transactions in the F&O Market would be treated as Non-Speculative Transactions as per Section 43(5), they would be taxed just like any other business income. The expenses incurred […]
Buyback of shares is when a company repurchases the shares issued by it from the existing shareholders. The company buys back its shares usually at market value or higher. Companies use buy back as a means to return cash to shareholders and regain ownership. Tax on buyback of shares in India is now regulated by […]
CBDT specifies the sovereign wealth fund, namely, the Norfund, Government of Norway, as the specified person for the purposes of the said clause in respect of the investment made by it in India on or after the date of publication of this notification in the Official Gazette but on or before the 31st day of March, 2024
Representation with regard to disposal  of appeals before the Commissioner of Income tax (Appeals), continuation of physical hearings in ITAT and other Issues.
ACIT Vs Jain Jewellery (ITAT Delhi) In the case of Jain Jewellery vs. ACIT, Â ITA No. 4571/DEL/2017 (AY 2012-13) additions were made on the basis of statements of third parties regarding bogus purchases. Total amount of purchases was Rs. 20495150/-. Additions restricted to 25%Â by CIT(A). Â On appeal before ITAT entire additions were deleted due […]
Auto Income Tax Calculator version 16 for F.Y. – 2021-22 (A.Y.-2022-23) in Old & New Regime (Both) Financial Year 2021-22 has started. Govt. has introduced a new tax regime (system) from last financial year (with a lower tax rate without any exemption/deduction). Which will continue in this financial year too. Every individual and employer have to […]
CBDT has decided to discontinue Excel & Java version of ITR utilities from AY 2021-22 and it has released JSON Utility for ITR1 & ITR 4 for Assessment Year 2021-22. The utility for other ITRs will be enabled shortly, the ITR 1 to 4 can be filled using single JSON Utility. Import of Prefill file […]
ITR Forms for A.Y. 2021-22: ITR-1 (Sahaj) -Resident Individual (Other than ordinarily resident) -Total income Upto Rs. 50 Lacs -Income from salary, one house property, other sources (interest etc.), family pension income and agriculture income upto Rs. 5,000 ITR-2 -Individual and HUF not having income from profit and gains of business or profession -A director […]
