Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : Representation for relaxation from levy of interest u/s. 234A on payment of self-assessment tax for A.Y. 2020-21 within extended d...
Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...
Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT Jaipur held that a one-day delay in filing Form 10DA could not defeat a Section 80JJAA deduction when the form was on record ...
Income Tax : The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the a...
Income Tax : ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other iss...
Income Tax : Delhi High Court held the ITAT failed to properly examine the ‘make available’ test for secondment payments, set aside its ord...
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 : CIRCULAR NO. 2/2015 The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-asses...
The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of records, and non-compliance with tax notices can trigger prosecution under the Income-tax Act.
ITAT sustained the adoption of fair market value under Section 50C after finding that seized cash represented on-money from property transactions. The Tribunal upheld the valuation determined through the DVO process.
Delhi ITAT ruled that delayed deposit of employees’ PF/ESI contributions attracts disallowance under Section 36(1)(va). The decision reinforces that such adjustments are permissible during summary processing of returns.
This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment of TDS/TCS, and furnishing false statements. It also highlights exceptions and safeguards available in certain situations.
This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine cases. It highlights the conditions, procedures, and limitations governing relief under Sections 273A and 273AA.
This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance, and record maintenance. It highlights the circumstances that attract penalties and the relief available in deserving cases.
The Delhi ITAT held that receipts from sale and restricted use of standard cybersecurity software could not be taxed as Fees for Technical Services. The Tribunal relied on judicial precedents dealing with standardised technology offerings.
The document outlines the circumstances in which taxpayers become liable to pay interest under Sections 234A, 234B, and 234C of the Income-tax Act. It explains the applicable rates, computation methodology, periods of levy, exceptions, and practical illustrations relating to delayed return filing, advance tax defaults, and deferment of advance tax instalments.
The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exempt income during the relevant year.
The Delhi ITAT held that Fees for Technical Services cannot be taxed under Article 22 of the India-Thailand DTAA merely because the treaty lacks a specific FTS clause. In the absence of a Permanent Establishment in India, such business income was held not taxable.
