Goods and Services Tax : The case examined if income details could be disclosed under RTI during a matrimonial dispute. The Court ruled that such disclosur...
Income Tax : ITR-4 Sugam: End of Blind Presumptive Compliance?” The Central Board of Direct Taxes (CBDT) has introduced a significant complia...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : The new law reorganizes provisions and introduces clearer section mapping for business income. It simplifies compliance while reta...
Income Tax : Free products, sponsored trips, and non-cash perks are now taxable under Section 194R if their value exceeds ₹20,000 annually. B...
CA, CS, CMA : The Court found CBDT failed to follow its 2015 directive on timely ITR utility release. It ordered an affidavit with corrective st...
CA, CS, CMA : KSCAA urged CBDT to extend due dates for assessees under Section 92E, citing an omission in Circular No. 15/2025 that created inco...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new I...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : The case addresses the continued failure to release ITR utilities on time despite earlier court directions. The Court adjourned th...
Corporate Law : The court interpreted the scope of Section 91 CrPC in summoning documents. It ruled that parties cannot demand documents as a matt...
Income Tax : The case focuses on systemic delays and technical shortcomings in the e-filing system. The Court directed the Department to file a...
Service Tax : The case addresses whether discrepancies between ITR/Form 26AS and ST-3 returns can justify a Service Tax demand. The Tribunal hel...
Income Tax : The Tribunal held that the assessee had furnished PAN, bank statements, confirmations, and financial details establishing the iden...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
Income Tax : The corrigendum addresses formatting and reference errors in Schedule CG and Schedule OS. It clarifies reporting fields without al...
Return of Income Sec 139 (1) of the Income Tax Act, 1961 This Section provides the compulsory return filing, on or before the due date, for the following category of person:- ♣ Every Company OR a partnership Firm (PF) OR a Limited Liability Partnership Firm (LLP). As per 3rd Proviso, they have to mandatory file […]
Quick Summary When to use which ITR form?? ITR 1 (Sahaj) – For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand (Not for an Individual who is either Director in a […]
One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns
A comprehensive guide to Income Tax Return filing and precautions to avoid notices and demands from the Income Tax department.
Unlock New ITR-1 Sahaj: Explore key changes in Income Tax Return Form 1 for AY 2020-21. Learn eligibility criteria, filing options, and FAQs. Ensure accurate filing with insights on ITR-1 (Sahaj) modifications. File confidently with our comprehensive guide.
Taxpayers often receive many defective return notices from CPC in case of having business income in the form of future and option trading income regarding non -filing of balance sheet and profit and loss account or for wrong compliance of Tax Audit u/s 44AD/44AE/44ADA . This article shall try to flag off all the confusions regarding tax compliances with regard to future and option trading.
CBDT Extends Time Limit for processing of Income Tax Return with Income Tax Refund Claims u/s 143(1) for AY 2017-18 in Non scrutiny cases till 31.10.2020.
Learn how to respond to a notice u/s 139(9) for a defective income tax return. Get step-by-step guidance on filing the response and resolving the issues.
1. Income Tax New disclosures asked in the new ITR forms 1 to 7 are: i. House ownership: Individual taxpayers who are joint owners of house property cannot file ITR 1 or ITR4. ii. Passport: One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR […]
Who Can File ITR 1? -Resident Individuals & HUF can File this form. -Having Income from Salary or Pension, Other Income like Bank Interest, interest from IT Refund, Agricultural income up to Rs.5000/. –Income from one House Property. -Income from the above shall not exceed Rs. 50 Lakhs for filling this Form. Who can not […]
