Income Tax : Non-Governmental Organizations (NGOs) and trusts play a vital role in contributing to the welfare of society through charitable an...
Income Tax : Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assess...
Income Tax : Learn how small business owners can benefit from the presumptive taxation scheme under Section 44AD. Find out the eligibility cri...
Income Tax : Article discusses Exemption Under Special Provisions of Sections 10A, Section 10AA and Section 10B of Income Tax Act, 1961. A. Sec...
Income Tax : The Central Board of Direct Taxes (CBDT) had issued a Circular No.12 of 2014, dt.18.7.2014, by way of clarification regarding allo...
Fema / RBI, Finance, Income Tax : Announcing the foreign trade policy 2009-14 here on Thursday, Mr Anand Sharma, Union Commerce Minister said, the Government wanted...
Income Tax : Explore the ITAT Mumbai's ruling on Datta Prasad Sahakari Patsanstha's appeal against the denial of deduction under section 80P(2)...
Income Tax : Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Secti...
Income Tax : ITAT Delhi held that the assessee is entitled to make additional claim of deduction u/s. 80JJAA of the Income Tax Act on the stren...
Income Tax : ITAT Mumbai held that the amount of internal transfer between two EOUs of the assessee is to be considered for the purpose of arri...
Income Tax : Finance Act, 2017 removed clause (i) of section 92BA, effectively nullifying any decisions made by the Assessing Officer under thi...
Income Tax : A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disp...
Income Tax : A clarificatory Circular No. 01/2013, dated 17-1-2013 (hereinafter referred to as 'Circular') was issued by CBDT to address variou...
Income Tax : Circular No. 07/DV/2013-Income Tax The two sections 10A and 10B of the Act were initially placed on statute in 1981 and 1988 resp...
Income Tax : The Indian Software Industry has been the beneficiary of direct tax incentives under the provisions like sections 10A, 10AA & 10B ...
Income Tax : Circular No. 01/2013-Income Tax The CBDT has issued a Circular No. 01/2013 dated 17.01.2013 in which it has provided clarificatio...
Explore the ITAT Mumbai’s ruling on Datta Prasad Sahakari Patsanstha’s appeal against the denial of deduction under section 80P(2)(a)(i) for the assessment year 2011-12.
Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Section 80P, highlighting the case of Madhu Souharda Pathina Sahakari Niyamitha vs ITO.
Non-Governmental Organizations (NGOs) and trusts play a vital role in contributing to the welfare of society through charitable and philanthropic activities. Navigating the intricate landscape of legal and financial terms related to these entities is essential for their effective functioning. This comprehensive guide aims to shed light on key terms associated with NGOs and trusts, […]
Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assessment year 2023-24.
ITAT Delhi held that the assessee is entitled to make additional claim of deduction u/s. 80JJAA of the Income Tax Act on the strength of judgment of Hon’ble High Court of Karnataka even though the same was not included while filing return of income.
ITAT Mumbai held that the amount of internal transfer between two EOUs of the assessee is to be considered for the purpose of arriving at the profit eligible for exemption under section 10B of the Income Tax Act.
Finance Act, 2017 removed clause (i) of section 92BA, effectively nullifying any decisions made by the Assessing Officer under this section. Reference to the TPO under section 92CA also becomes invalid
In Sandip Chattopadhyay vs. ITO case, ITAT Kolkata ruled that deductions under sections 24(b), 80C, and 80D cannot be denied for not being claimed in ITR.
ITAT Pune held that omission of claiming long term capital loss at the time of filing of original return was not bona fide. Accordingly, rejection of claim of the same in revised return unsustainable in the eyes of law.
Learn how small business owners can benefit from the presumptive taxation scheme under Section 44AD. Find out the eligibility criteria, calculation method, and advantages of this scheme. Discover how it can simplify tax compliance for small businesses.
