Income Tax : Explore Section 80JJAA of Income Tax Act, encouraging job creation in India. Learn about conditions, deductions, and benefits for ...
Income Tax : Learn about Deduction u/s 80JJAA: Who's eligible, how much is allowed, and what it means for additional employee costs. Expert ins...
Income Tax : Learn about tax deductions for new employee costs under section 80JJAA of the Income-tax Act, its eligibility criteria, and practi...
Finance : A company opting for special rate taxation under section 115BAA and 115BAB of the Act are exempt from paying MAT. Further, a compa...
Income Tax : Explore Section 80JJA of the Income Tax Act, 1961, offering deductions for businesses engaged in collecting and processing biodegr...
Income Tax : During the course of the survey operation, evidences of tax evasion have been gathered regarding wrongful claims of deduction u/s ...
Goods and Services Tax : Currently, a deduction of 30% is allowed in addition to normal deduction of 100% in respect of emoluments paid to eligible new emp...
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 Bangalore held that the return of income and Form No. 10DA were filed within the prescribed due date of 30.11.2018. It di...
Income Tax : The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely becau...
Income Tax : The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the assessee to furnish co...
Income Tax : ITAT ruled that deduction under Section 80JJAA could not be claimed where the business was acquired through amalgamation. The Trib...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
Income Tax : Rule 19AB. Form of report for claiming deduction under section 80JJAA. Report of an accountant which is required to be furnished b...
A summary of the ITAT Delhi ruling on cross-appeals involving International Tractor Ltd. covering key tax issues on depreciation, R&D, and other business deductions.
ITAT Ahmedabad rules a 29-day delay in filing Form 10DA is a procedural lapse, not a bar to claiming an 80JJAA deduction, overturning a ₹92.6 lakh disallowance.
ITAT Ahmedabad upholds allocation of employee benefit expenses to agricultural activities for Super Crop Safe Limited, citing the specialized and labor-intensive nature of their operations. Finance costs and some other expenses were deleted or set aside for re-verification.
Ahmedabad ITAT rules Section 80JJAA deduction cannot be rejected solely for late filing of Form 10DA, if filed with the return, citing procedural lapse.
The petitioner is essentially aggrieved by the denial of the benefit of paying tax at lower rate in terms of Section 115BAA of the Act, which was introduced by the virtue of Taxation Laws (Amendment) Act, 2019 with effect from 01.04.2020.
An employee should be employed for 300 days or more during the previous year should be applied cumulatively across the year of hiring and the following year, rather than restricting it to the first year.
Deduction under section 80IA(4) couldn’t be denied solely due to the delayed filing of Form 10CCB, as the audit report was filed before the return was processed.
Assessee has preferred an appeal before Addl/JCIT(A) who allowed the appeal by observing that the ICDS adjustments were made under the head ICDS-I & ICDS-VI relates to accounting policies and changes in the exchange rates.
Filing of Form 10CCB required for claiming deductions under Section 80IA before the due date for filing of return of income u/s 139(1) was only directory and not mandatory for the year under consideration.
ITAT Ahmedabad remands case of Vimalachal Print & Pack Pvt. Ltd. for re-assessment regarding deduction under Section 80JJAA in AY 2020-21.
