Income Tax : The new regime offers a concessional 22% tax rate for domestic companies. However, key deductions and depreciation benefits are re...
Income Tax : Analyze the ITAT Delhi ruling on whether Section 115BAA applies to long-term capital gains, and understand why special LTCG rate...
Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Overview of special tax regimes for Individuals, Companies, HUFs, and Co-operative Societies under Sections 115BA to 115BAE of the...
Income Tax : Form 3CD requires mandatory reporting on taxpayer identity, business status, accounting methods (ICDS), depreciation, inadmissible...
Income Tax : Indian Government's recent data on corporate tax collection for the last five years and the revenue forgone due to the reduction o...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
Income Tax : Representation with regard to application of old tax rates due to filing form 10IC after submitting ITR but before due date filing...
Income Tax : The Court held that rejecting condonation solely because the assessment year was not mentioned in the circular is unjustified. It ...
Income Tax : ITAT Chennai held once the AO has conducted inquiry, examined replies and adopted a legally sustainable view, the same cannot be t...
Income Tax : The Tribunal held that a minor delay in filing Form 10-IC should not deny concessional tax benefits. It emphasized that substantiv...
Income Tax : The Tribunal held that delay in filing Form 10-IC does not invalidate the option exercised under Section 115BAA if declared in the...
Income Tax : Bombay High Court held that adjustments under Section 143(1)(a) are invalid if prior intimation is not issued and response not con...
Income Tax : CBDT grants a filing extension for Form 10-IC related to AY 2021-22. Learn the conditions for this extension and the new deadline ...
Income Tax : CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax r...
Income Tax : CBDT notifies forms for exercising option u/s 115BAA and 115BAB – Notification No. 10/2020, dated 12-02-2020 Section 115BAA deal...
A guide to available income tax deductions for AY 2025-26 under various default tax regimes (115BAA, 115BAB, 115BAC, 115BAD, 115BAE) for different taxpayer types.
ITAT Raipur held that concessional tax rate benefit under section 115BAB of the Income Tax Act denied since Form 10ID filed after due date as specified under section 139(1) of the Income Tax Act. Accordingly, appeal dismissed.
Allahabad High Court held that filing of Form 10-IC prior to filing of return is not mandatory and if “genuine hardship” is shown then delay may be condoned. Accordingly, delay in filing Form 10-IC condoned and order quashed.
ITAT Mumbai quashes PCIT’s revision, confirming Dalal And Broacha Stock Broking’s Section 80G deduction on CSR expenses, citing judicial precedents.
The petitioner is essentially aggrieved by the denial of the benefit of paying tax at lower rate in terms of Section 115BAA of the Act, which was introduced by the virtue of Taxation Laws (Amendment) Act, 2019 with effect from 01.04.2020.
The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling upon the plots of land. The case of the assessee was selected for scrutiny assessment through CASS.
DPIIT’s Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance ease to Indian startups.
ITAT Ahmedabad rules on Aprameya Engineering’s appeal against tax rate denial under Section 115BAA due to delayed Form 10-IC filing. Judicial precedents examined.
ITAT Delhi removes erroneous ₹19,253 double addition made by CPC in HPL Mercantile Pvt. Ltd. case. The amount was already included in taxable income.
Assessee has preferred an appeal before Addl/JCIT(A) who allowed the appeal by observing that the ICDS adjustments were made under the head ICDS-I & ICDS-VI relates to accounting policies and changes in the exchange rates.
