Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...
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...
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 : ITAT Delhi held that disallowance under section 14A of the Income Tax Act is liable to be deleted in as much as fresh investment i...
Income Tax : ITAT Ahmedabad allows deduction under Section 80-IA despite late filing of Form 10CCB, ruling it as a procedural lapse. Read key c...
Income Tax : ITAT Chennai held that Form 56F not signed by an accountant, as referred in section 10A(5) of the Income Tax Act, is defective and...
Income Tax : Filing of Form 10CCB required for claiming deductions under Section 80IA before the due date for filing of return of income u/s 13...
Income Tax : Madras High Court held that benefit of section 10B of the Income Tax Act available even before setting off of unabsorbed depreciat...
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 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.
ITAT Bangalore held that the interest income received on temporary Fixed Deposits is eligible for exemption under section 10AA of the Income Tax Act.
ITAT Mumbai held that FCCB i.e. Foreign Currency Convertible Bond expenses included as part of FCCB premium expenses is allowable.
ITAT Mumbai held that foreign travelling expenses in respect of spouses who accompanied on official tour with some of the company employees is allowable expenditure.
