Income Tax - Unravel complexities of accounting, audit, and taxation in Future and Option transactions. Learn nuances of declaring profits and losses, maintaining books, and impact on income tax returns....
Income Tax - 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.). In this part you can gain knowled...
Income Tax - Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assessment year 2023-24....
Income Tax - Explore disqualifications outlined in Income Tax Act for tax auditors in India, ensuring integrity and transparency in financial governance...
Income Tax - An in-depth analysis of Clause No. 44 in Form 3CD, its impact on large organizations, challenges faced by the Assessee, and suggested solutions for smoother compliance....
Income Tax - Chamber of Tax Consultants seeks an extension for filing Form 10B and Form 10BB while requesting relaxation of requirements. Details and updates here....
Income Tax - Explore the latest 2023 revision of the ICAI's Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961. Learn about updates, compliance requirements, and the role of chartered accountants in the tax audit process....
Income Tax - Members may to raise any issues related to Tax Audit where elucidation, clarification or further elucidation is desired at email id taxauditclinic@icai.in...
Income Tax - Representation to CBDT on information sought from Tax Auditors under Clause 44 of Form 3CD and request to abolish this requirement...
Income Tax - Representation requesting to scrap Clause No. 44 of Tax Audit Report (Form 3CD) under the Income Tax Act, 1961...
Wholery Infrastructure Private Ltd. Vs DCIT (ITAT Jaipur) - ITAT Jaipur held that as defect notice issued u/s. 139(9) of the Income Tax Act is not in accordance with the law and hence the return of income filed by the assessee should be considered as valid return....
Preetiben Chhatrasingh Chauhan Vs PCIT (ITAT Surat) - ITAT Surat held that AO cannot go beyond reason for which matter was selected for limited scrutiny. Thus, PCIT cannot pass revisionary order u/s. 263 of the Income Tax Act on other aspects outside the scope of limited scrutiny....
Mahesh Prasad Singh Vs PCIT (ITAT Raipur) - ITAT Raipur held that revisionary proceedings cannot be termed as illegal or not maintainable when the assessee have not responded and remain non-compliant in explaining his case before the PCIT....
R.S. Pabbla Constructions Pvt Ltd Vs DCIT (ITAT Visakhapatnam) - ITAT Visakhapatnam held that addition towards unexplained labour credits sustained as assessee failed to discharge the onus casted on it and failed to produce material evidence with respect to labour payments and material payments....
Vakrangee Foundation Vs Assessing Officer (ITAT Raipur) - Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions....
Circular No. 18 of 2023-Income Tax - (21/10/2023) - Read Circular 18/2023 from the Government of India Ministry of Finance. Learn about the extension of the filing deadline for Income Tax reports and its implications...
Notification No. 28/2021 [G.S.R. 246(E).] - (01/04/2021) - CBDT has vide Notification No. 28/2021-Income Tax inserted new clauses in Form 3CD (Tax Audit Report) and also notified that Tax Audit Report under Rule 6G can be revised if there is payment by Assessee after furnishing of report which necessitates recalculation of disallowance under section 40 or s...
Circular No. 05/2021-Income Tax - (25/03/2021) - The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44 till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi **** Circular No. 05/2021, Dated 25th Mar...
Notification No. 93/2020-Income Tax [S.O. 4805(E).] - (31/12/2020) - Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme vide Notification No. 93/2020-Income Tax dated 31st December, 2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 93/2020-Income Tax New Delhi, the 31st December, 2020 S.O. 4805(E).—In exercise...
NA - (30/12/2020) - In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further extends the dates for various compliances. Due date for filing ITR (Non tax audit) extended till 10/01/2021. Due date for filing Tax Audit and TP Audit Report extende...
Wholery Infrastructure Private Ltd. Vs DCIT (ITAT Jaipur) -
Preetiben Chhatrasingh Chauhan Vs PCIT (ITAT Surat) -
Mahesh Prasad Singh Vs PCIT (ITAT Raipur) -
R.S. Pabbla Constructions Pvt Ltd Vs DCIT (ITAT Visakhapatnam) -
Vakrangee Foundation Vs Assessing Officer (ITAT Raipur) -
Manish Kothari (Presently In JC) Vs Director of Enforcement Ministry of Finanace Dept. of Revenue Headquarter Investigation Unit (Delhi High Court) -