Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Income Tax : This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE....
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 : The Income-tax Act provides presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE to reduce compliance burdens by allo...
CA, CS, CMA : ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audi...
Income Tax : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...
Income Tax : The Tribunal held that GST collected is not part of income for presumptive taxation under section 44B. It ruled that GST is a stat...
Income Tax : The Tribunal clarified that even where the assessee owns more than ten trucks, Section 44AE can be used as a fair yardstick for in...
Income Tax : The assessee challenged jurisdiction for lack of notice under Section 143(2). The Tribunal held that once the belated return was i...
Income Tax : Andhra Pradesh held that neither the State Legislature nor the Central Legislature would have power, to levy tax on the sale of go...
Income Tax : Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961...
This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, and exemptions available to salaried taxpayers.
Understand the rules for computing presumptive tax under Section 44AE for heavy goods vehicles, including definitions of Gross Vehicle Weight and Unladen Weight.
ITAT Hyderabad held that rejection of books during assessment proceedings does not retrospectively nullify the obligation to comply with section 44AB of the Income Tax Act within the prescribed time. Accordingly, penalty under section 271B upheld.
Overview of Income Tax Returns (ITR) in India, detailing different forms (ITR-1 to ITR-7) based on taxpayer categories and income sources, plus current filing deadlines and verification tips.
Understand income tax rules for cash deposits in businesses using presumptive taxation (Sec 44AD, 44AE). Learn about unexplained credits and bank statements.
Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections for easy reference.
Gujarat High Court rules write-back of provisions isn’t ‘turnover’ or ‘gross receipts’ under Sec 44AB, quashing tax return invalidation. Cites ICAI notes.
ITAT Pune rules that ₹10 lakh from truck sale via banking channel is not unexplained cash credit under Section 68, setting aside CIT(A)’s findings.
Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at simplifying tax computation while raising concerns over consistency with existing provisions.
It is also noteworthy that the learned Departmental Representative (DR), during the hearing, did not point out any material differences between the facts of the present case and those of the earlier assessment years.
