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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

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Monthly (August-2024) Legal Obligations + Legal updates for India

CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...

August 13, 2024 29316 Views 1 comment Print

Tax deduction at Sources (TDS) on Commercial Business Income

Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...

July 17, 2024 1923 Views 0 comment Print

How to calculate Turnover of Futures & Options for Taxation

Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...

July 8, 2024 8046 Views 0 comment Print

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

Income Tax : Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert ana...

July 1, 2024 5748 Views 0 comment Print

Due Date Calendar June 2024

CA, CS, CMA : Stay compliant with tax obligations in May 2024. Check the due dates for income tax, GST, PF, ESI, and more. Get organized with th...

June 3, 2024 7650 Views 0 comment Print


Latest News


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 3441 Views 0 comment Print

Live Webinar on Section 43B(h) of Income Tax Act, 1961- MSE Payment

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- Sunday�...

February 26, 2024 10059 Views 0 comment Print

Join Live webinar on Taxation Critical Issues & Solution

Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...

February 15, 2024 2457 Views 0 comment Print

Join Live Webinar on Understanding TDS on Purchase/Sale of Property

Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...

February 15, 2024 4353 Views 0 comment Print

CBDT notifies Income Tax Return Forms for AY 2023-24 well in advance

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...

February 15, 2023 2967 Views 0 comment Print


Latest Judiciary


Acceptance or Rejection of Books: An Analysis

Income Tax : Explore the impact of book acceptance or rejection on taxation with insights into grounds for rejection and factors favoring accep...

May 13, 2024 972 Views 0 comment Print

Denial of  Sections 80G & 12A Registration: Kerala HC directs reconsideration of Application

Income Tax : Kerala High Court overturns rejection of Snehatheeram Charitable Trust's application for 80G certificate under Income Tax Act, 196...

April 12, 2024 1113 Views 0 comment Print

Vehicle Accident Compensation: HC directs consideration of Average Income

Corporate Law : Karnataka High Court considers income variations in compensation assessment. Detailed analysis of Jayashree Vs Mahaningappa & Othe...

March 31, 2024 402 Views 0 comment Print

Addition u/s 68 deleted as genuineness and creditworthiness of lender proved: ITAT Delhi

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...

March 18, 2024 588 Views 0 comment Print

No Income Tax on Interest-Free Refundable Project Deposit: Andhra Pradesh HC

Income Tax : Explore the Coastal Ceramics vs Union of India case where AP High Court rules that an interest-free refundable security deposit fo...

January 5, 2024 1032 Views 1 comment Print


Latest Notifications


Income Tax Exemption for West Bengal Transport Workers Social Security Scheme

Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...

August 12, 2024 75 Views 0 comment Print

AIMCo India Infrastructure Pension Fund Exemption Details

Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...

July 19, 2024 444 Views 0 comment Print

Notification No. 92/2024-Income Tax Dated: 18th July, 2024

Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...

July 18, 2024 201 Views 0 comment Print

Notification No. 91/2024-Income Tax Dated: 18th July, 2024

Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...

July 18, 2024 132 Views 0 comment Print

Notification No. 88/2024-Income Tax Dated: 18th July, 2024

Income Tax : Notification 88/2024 amends Income Tax regulations, extending the deadline from March 31, 2024, to March 31, 2025. Updated by CBDT...

July 18, 2024 129 Views 0 comment Print


IDC receipts for State Government cannot be taxed in the Hands of Assessee

July 31, 2020 1305 Views 0 comment Print

The issue under consideration is whether the CIT(A) is correct in upholding IDC receipts as normal trading receipts ignoring that the money belongs to state government?

No Addition u/s 40A(3) for Advance Returned Back to Customer in Cash

July 31, 2020 1470 Views 0 comment Print

The issue under consideration is whether the addition u/s 40A(3) for advance which is returned back to the customer in cash is justified in law?

No section 23 Addition of Notional Rent for Vacant Property

July 30, 2020 6126 Views 0 comment Print

The issue under consideration is whether the addition on account of notional rent in respect of vacant property is justified in law?

No addition for Cash payments in excess of prescribed limit as Assesse given undertaking for not claiming that expenditure

July 30, 2020 2163 Views 0 comment Print

whether the disallowance u/s 40A(3) of the Act for the alleged payment in cash in excess of the limit prescribed u/s 40A(3) of the Act for making payment for purchase of land is justified in law?

Contractors Performing Work in Nature of Developer-cum-Contractor Eligible to Claim Deduction u/s 80-IA

July 30, 2020 5457 Views 1 comment Print

Patel Infrastructure Pvt. Ltd. Vs DCIT (ITAT Rajkot) The issue under consideration is whether contractors performing the work in the nature of a developer-cum-contractor are eligible to claim deduction u/s 80-IA(4) of the Income Tax Act, 1961? ITAT states that even after the amendment by the Finance Act, 2007 and the Finance Act, 2009, the […]

Section 254(2)- Tribunal cannot review its own order: ITAT

July 30, 2020 4140 Views 0 comment Print

If the Revenue has any grievance against the order of the Tribunal, the Revenue can go before the High Court by filing appeal u/s 260A. The Tribunal cannot recall its own order in the garb of power vested u/s 254(2) of the Act.

Section 68 Addition not Justified for Unexplained Deposit in Bank Account

July 29, 2020 12858 Views 0 comment Print

The issue under consideration is whether the AO is justified in making addition u/s 68 towards alleged unexplained deposit in the bank account in as much as a bank account is not a book of account maintained by the appellant?

Compensation paid to Earlier Buyer to Cancel Agreement is Deductible Expenses u/s 48 for Capital Gains

July 29, 2020 3708 Views 0 comment Print

The issue under consideration is Whether compensation paid to earlier buyer to cancel the agreement is deductible expenditure u/s 48 for calculation of Capital Gains?

Office established merely for communication is not a PE under India-Korea DTAA

July 29, 2020 1371 Views 0 comment Print

whether the office which is established merely for the sake of communication is covered under the character of Permanent Establishment (PE) under India-Korea DTAA?

Bogus Purchase: Addition on peal credit basis for Low Margin & Low Vat Rate Items unjustified

July 28, 2020 723 Views 0 comment Print

The issue under consideration is whether the CIT(A) is correct in confirming addition u/s 69C of the Act on account of unexplained purchases made during the year, calculated on the basis of peak credit?

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