Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : Understand what belated ITR filing is in 2025, including deadlines, late fees under Section 234F, and the loss of tax benefits lik...
Income Tax : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
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 : The Court held that rejecting condonation solely because the assessment year was not mentioned in the circular is unjustified. It ...
Income Tax : The Tribunal held that the revised ₹25 lakh exemption limit for leave encashment under Section 10(10AA) must be considered and r...
Income Tax : The Tribunal observed that ₹99.10 lakh allegedly added as unexplained credits may represent earlier year balances. The matter wa...
Income Tax : Additions based on survey-time valuation of machinery were deleted as the Assessing Officer had not rejected the books of account....
Income Tax : Deductions under Sections 54B and 54F were denied without examining crucial evidence. The tribunal remanded the matter for fresh a...
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...
This time CBDT has extended the Last date to File Income-tax Return for the F.Y -2018-19 from 31.03.2020 to 30.06.2020. After the lockdown, now the Government of India is granting permission to start business activities in a phased manner so that the Economy can move forward but now MSME Sector is starting facing cash flow issues to revive their activities.
Dont miss the deadline! File your belated income tax return by 31st March, 2020 to avoid penalties. Learn more about the amended Section 139(4) and the reduced time limit.
Dear readers, March the Closing Month for F.Y. 2019-20, which is very Important for Assessee from Income Tax Point of view. Income Tax Payer has to take many steps to save taxes like Investments under Section 80C/ Section 80D/ Section 80G, deposition of HRA and Investment documents with their employer so that minimum TDS is […]
Smt. Vatsala Asthana Vs ITO (ITAT Delhi) Regarding the payment made by the assessee before 31/03/2014, Hon7ble High Court of Rajasthan in the case of Shankar Lal Saini (supra) held that, where assessee, an individual deposited unutilized sale consideration in capital gains scheme within the due date of filing of belated tax return under section […]
Read the Punjab and Haryana High Court’s decision in CIT vs. Ms. Jagriti Aggarwal on Section 54 claim under the Income Tax Act. Legal insights provided.
