Income Tax : Learn about the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). Find out how to access them and what in...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...
Income Tax : Explore the legal framework, exemptions, and compliance challenges surrounding the obligation of foreign companies to file income ...
Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : The Central Government have notified the “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘s...
Income Tax : ITAT Pune rules on Foreign Tax Credit (FTC) in JCIT (OSD) Vs Raj Surendra Mohan Hajela, addressing the delay in Form 67 submission...
Corporate Law : Smt. Syeda Rahimunnisa and Syed Hyder Hussaini are wife and husband whereas the respondent no. 1(a) to 1(f) are the legal heirs of...
Income Tax : ITAT Delhi held that advertisement and distribution revenue earned by Discovery Asia Inc. is taxable as per Mutual Agreement Resol...
Income Tax : Punjab and Haryana High Court held that the same assessing officer is required to pass an order under the new scheme after giving ...
Income Tax : In the instant case, assessee had not filed any return within stipulated time framed u/s 139(1), but had filed the return u/s 139(...
Income Tax : The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure fo...
Income Tax : Notification No. 3/2011 - Income Tax WHEREAS the annexed Agreement among the Governments of SAARC (South Asian Association for Re...
Income Tax : Notification No. 86/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Gov...
Income Tax : Notification No. 36/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Gov...
Income Tax : Notification No. 25/2010-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961...
ITAT Chandigarh held that since Form 67 has actually been filed within extended date of filing the return of income hence Foreign Tax Credit (FTC) claimed by the assessee is granted.
Nagpur ITAT finds no obligation for rectification under Section 154 if clear data is missing in Hariom Biotech Agri Farming Vs DCIT case.
Assessee filed his original income tax return on 31-08-2019 and revised the return on 19-06-2020. He submitted Form 67 to claim the foreign tax credit but AO denied the FTC claim due to the late filing of Form 67.
One Time Settlement (OTS) schemes were launched by the Telangana Government to enable the tax payers to settle the disputed tax amounts under the Telangana Value Added Tax Act (VAT Act) and the Central Sales Tax Act (CST Act).
ITAT Delhi held that Rule 128(9) nowhere debars claim of Foreign Tax Credit on account of delay in furnishing Form No. 67. The provisions contained under Rule 128(9) are directory and accordingly, allowed the credit of FTC.
Learn about the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). Find out how to access them and what information they include.
ITAT Pune held that the DTAA does not get triggered at all when a domestic company pays DDT u/s. 115O of the Income Tax Act. In nut-shell, domestic company doesn’t enter domain of DTAA at all.
The Madras High Court in Thejo Engineering Limited Vs Deputy Director of Income Tax ruled that denying Foreign Tax Credit despite accepted computations is incorrect.
Rajasthan High Court held that addition u/s. 68 of the Income Tax Act towards unexplained cash credit sustained as assessee failed to discharge initial onus of proving identity, creditworthiness and genuineness of transaction.
Delhi High Court held that the receipts from Indian customers for services provided outside Indian Territory, in connection with use or right to use of process or equipment by the assessee company, cannot be taxed as royalty as per section 9(l)(vi) of the Income Tax Act.
