Follow Us :

Section 234B

Latest Articles


From Side Hustle to Tax Puzzle: A Freelancer’s Guide to Taxes

CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...

June 8, 2024 1185 Views 3 comments Print

Implications of amendment in Section 43B to taxpayers and SMEs

Income Tax : Understand the impact of the Section 43B amendment on taxpayers and SMEs in India. Learn about deductions, compliance, and implica...

February 6, 2024 1569 Views 0 comment Print

Inform your current employer about the previous employment and salary

Income Tax : Learn why disclosing previous salary is crucial for accurate tax planning. Explore advance tax intricacies, due dates, and interes...

January 9, 2024 1926 Views 0 comment Print

Pay 3rd Instalment Advance Tax for AY 2024-25 by 15th Dec: Guidelines & Example

Income Tax : Understand how to pay your 3rd instalment of Advance Tax for the Assessment Year 2024-25 before the deadline on 15th December. Det...

December 8, 2023 6090 Views 0 comment Print

Levy of Interest u/s 234B: Tenability in Excess Refund Cases

Income Tax : This article examines the tenability of levy of interest u/s 234B in cases of excess refund claimed by taxpayers under the Income ...

July 26, 2023 1449 Views 0 comment Print


Latest News


Request to CBDT to permit delayed filing of Form 10IC

Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of  time limit by condoning delay Issuance of Order under Section ...

February 4, 2022 9582 Views 1 comment Print

AOTAA files PIL before Orissa HC on the issue of late fee, interest & penalty under Income Tax

Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...

January 13, 2022 4434 Views 1 comment Print

Belated Release of ITRs and burden of Interest U/s. 234 B

Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...

June 4, 2015 2790 Views 0 comment Print


Latest Judiciary


Delhi ITAT Rules No Tax on Technical Services to AE Without PE in India

Income Tax : Read the full text of the Delhi ITAT order on Denso (Thailand) vs ACIT, discussing tax liability for technical services under Indi...

June 20, 2024 417 Views 0 comment Print

Section 80IAB deduction eligible on interest income on FDs linked to SEZ business operations

Income Tax : ITAT Delhi rules interest income on FDs linked to SEZ business operations is deductible under Section 80IAB. Analysis of Candor Gu...

June 15, 2024 438 Views 0 comment Print

Printers, Routers & Peripherals eligible for depreciation at Computer Rates

Income Tax : Read about the ITAT Delhis ruling on the deduction dispute between Genpact India and DCIT regarding freight, telecommunication cha...

June 14, 2024 558 Views 0 comment Print

Section 270AA Penalty Immunity Application Cannot Be Rejected on Insufficient Grounds or Vague SCNs

Income Tax : Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting ...

June 13, 2024 354 Views 0 comment Print

ITAT upholds profit earned in foreign currency determined by Assessee under Rule 115

Income Tax : ITAT Mumbai rules in favor of Anurag Chandra, validating the method of declaring foreign profit after currency conversion. Additio...

June 7, 2024 483 Views 0 comment Print


Prosecutions and Punishment under Income Tax Act, 1961

June 11, 2022 47229 Views 7 comments Print

Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act.

Advance Tax Provisions, Challan, e-payment Utility & Examples

June 8, 2022 192759 Views 14 comments Print

As per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of advance tax. In this part you can gain knowledge on various provisions relating to payment of advance tax by a taxpayer.

Income Tax Offences liable to prosecution

June 8, 2022 57119 Views 4 comments Print

Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law.

Power of Commissioner to Reduce or Waive Income Tax Penalty

June 8, 2022 62239 Views 2 comments Print

In the tutorial on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions

Penalties under Income-Tax Act, 1961

June 8, 2022 110143 Views 2 comments Print

Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act.

All about Interest Payable U/s. 234A, 234B & 234C

June 3, 2022 491041 Views 45 comments Print

Under the Income-tax Act, different types of interests are levied for various kinds of delays/defaults. In this part, you can gain knowledge about the provisions of section 234A, 234B and 234C dealing with interest levied for (i) delay in filing the return of income

Section 234B & 234C Interest not leviable on additional income taxable due to unanticipated event

April 24, 2022 3942 Views 0 comment Print

Interest under section 234B and 234C is not leviable since it was not possible for the appellant to anticipate the events that were to take place in the next financial year and pay advance tax on the basis of those anticipated events.

ITAT upholds DRP’s Order deleting Section 234B Interest payable by Taxpayer

February 13, 2022 639 Views 0 comment Print

We have carefully perused the orders of the authorities below. We find that the interest levied u/s 234B of the Act was deleted by the DRP relying upon the decision of the Hon’ble Jurisdictional High Court of Delhi in the case of GE Packaged Power 373 ITR 65 in which the Hon’ble High Court followed the decision in the case of Agence France Press 2015-TII-14-HC-DEL-Intl. From the scrutiny report, on DRP’s directions, the AO has accepted the deletion. But since the matter is subjudice before the Hon’ble Supreme Court, these appeals have been preferred.

Request to CBDT to permit delayed filing of Form 10IC

February 4, 2022 9582 Views 1 comment Print

Request to CBDT to permit filing of Form 10IC after expiration of  time limit by condoning delay Issuance of Order under Section 119(2)(b) of the Income Tax Act, 1961

Provisions for filing of updated Income Tax return in Budget 2022

February 1, 2022 5304 Views 0 comment Print

Provisions for filing of updated return Section 139 of the Act is related to the provisions for filing of Income Tax Return by taxpayers. 2. Sub-section (1) of section 139 of the Act casts responsibility on the taxpayer to furnish a return within a definite time period or up to a particular date, that is, […]

Search Post by Date
June 2024
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930