Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
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 guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Explore special provisions for computing profits and gains under the Income Tax Act, 1961, covering diverse areas such as mineral ...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
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 Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction...
Income Tax : The Tribunal held that entries found in third-party ERP software during a search cannot alone justify unexplained investment addit...
Income Tax : The Tribunal held that the CIT(A) improperly admitted additional evidence without satisfying Rule 46A conditions or recording reas...
Private healthcare sector: Income tax incentives, Legal Provisions and Judgments This article covers various sections related to healthcare sector such as Section 10(23C), Section 44A, Section 44AB, Section 11, Section 12, Section 35AD, Section 194I, Section 194h, Section J and many more along with various related case laws. Legal Provisions with respect to tax incentives […]
As the Finance Act, 2016 introduced new section 44ADA for computation of profit of Profession on Presumptive basis. As I have seen many people who are unaware of this section and they are declaring their profit below the presumptive basis and their income exceeds the maximum amount not chargeable to tax. As per Section 44AB Audit of Accounts is mandatory if following conditions are satisfied
Section 44AA, talks about the various provisions related to maintenance of books of accounts, which books are required to maintain and the period for which such books to maintained. So we will analyse the provisions of section 44AA, in details – Sub-section (1) of section 44AA, says, all persons, which are carrying on specified profession […]
Ashok Kumar Dutta Vs DCIT (ITAT Kolkata) Notice u/s 274 read with section 271A of the Income Tax Act, 1961. The word maintained and retained has been used in section 271A of the Act .If assesseee fails to maintain or fails to retain such books of accounts and other documents . The Income tax authority […]
