Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciat...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : The Income Tax Department has clarified the concessional tax regimes available to companies, individuals, and co-operative societi...
Income Tax : Section 115BAA offers eligible domestic companies a concessional tax structure with a fixed effective rate. The trade-off is the l...
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 Calcutta High Court held that the PCIT was not authorised to condone the delay in filing Form 10-IC for AY 2024-25 as the appl...
Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : The Bombay High Court held that a 13-day delay in filing Form 10-IC should be condoned where eligibility for Section 115BAA was un...
Income Tax : ITAT Delhi held that a 22-day delay in filing Form 10-IC could not deprive an eligible company of the concessional tax rate under ...
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...
ITAT Ahmedabad allows appeal by Sunpack Barrier Films Pvt Ltd against additional tax demand due to delay in filing Form No. 10-IC, condoned per CBDT Circular No. 19/2023.
Explore significant changes in ITR forms for FY 2023-24: deadlines, EVC for audits, reporting modifications, taxation updates, and more. Stay informed!
Explore the details of Traxit Engineers Pvt. Ltd. vs. Assessing Officer case at ITAT Mumbai, involving the dispute over concessional tax rates. ITAT directs verification of Form 10-IC for lower tax regime eligibility.
Explore the ITAT Delhi’s decision in Concentrix Daksh Services vs ACIT case. Understanding the applicability of concessional tax rates and the misconceptions.
CBDT grants a filing extension for Form 10-IC related to AY 2021-22. Learn the conditions for this extension and the new deadline in this update.
Indian Government’s recent data on corporate tax collection for the last five years and the revenue forgone due to the reduction of corporate tax. Learn about the impact of reducing the Corporate Surcharge and the government’s calculations regarding the revenue loss.
Decipher the tax landscape for domestic companies with a comprehensive breakdown of Sections 115BA, 115BAA, and 115BAB. Explore the nuances, conditions, and benefits under each section, offering insights into tax rates for domestic manufacturing companies. Stay informed, optimize tax planning, and navigate compliance effectively.
ITAT Mumbai held that the claim for deduction under section 80G of the Income Tax Act in respect of Corporate Social Responsibility (CSR) expenses cannot be denied.
Explore the detailed analysis of the new tax regime under sections 115BAC, 115BAA, and 115BAD for F.Y. 2023-24 A.Y. 2024-25. Understand the impact on taxpayers, key changes, and factors influencing the choice between old and new tax regimes. Stay informed to make well-informed decisions and comply with the latest tax regulations.
Assessee did not file Form 10-IC before due date of filing return of income, i.e. 15/02/2021, which is mandatory condition for claiming option available under section 115BAA of Income Tax Act.
