Income Tax : Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn a...
Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...
Income Tax : Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return an...
Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : Major amendment pertaining to Due date of Filing of Belated return or Revised return Rationalisation for Reducing time to file bel...
Income Tax : In Vinayagam Sabarisanthanakrishnan Vs ACIT, Madras HC clarifies that failure to file returns under Sec 139(1) is essential for pr...
Income Tax : Delhi ITAT ruling on Manish Kumar Mittal Vs ITO case clarifies treatment of cash-in-hand from business profits declared under Sec ...
Income Tax : ITAT Pune orders re-examination of GST disallowance for Sharp Aluminium, emphasizing correct assessment based on actual GST paymen...
Income Tax : Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Secti...
Income Tax : Deduction under section 80IB (10) was allowable to assessee as it had a reasonable & bona fide cause for not filing the return of ...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headqua...
Understand Section 139 of the Income Tax Act, its implications on return filing due dates, and the changes for FY 2023-24. Learn about new dates, old regime, and key considerations.
In Vinayagam Sabarisanthanakrishnan Vs ACIT, Madras HC clarifies that failure to file returns under Sec 139(1) is essential for prosecution under Sec 276CC of the Income Tax Act.
Delhi ITAT ruling on Manish Kumar Mittal Vs ITO case clarifies treatment of cash-in-hand from business profits declared under Sec 44AD, preventing it from being added as unexplained money.
Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insights for timely compliance.
ITAT Pune orders re-examination of GST disallowance for Sharp Aluminium, emphasizing correct assessment based on actual GST payment dates.
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.
Deduction under section 80IB (10) was allowable to assessee as it had a reasonable & bona fide cause for not filing the return of income within the time permitted under Section 139(1). Once in the given facts, assessee had been held entitled to claim the specifically computed deductions, then it should not be burdened with taxes which it was otherwise not liable to pay under law.
Article explains What is Belated Return, limitations of filing Belated application, consequences when submitting Belated return and Steps to file Belated Return
ITAT Pune restored the matter back to the file of AO for examining the claim of Foreign Tax Credit of the assessee vis-à-vis furnishing of the Certificate or Statement as per Rule 128(8)(ii) along with Form No. 67.
The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.).
