Income Tax : The update outlines revised compliance forms, timelines, and penalties under the new rules. It highlights a structured transition ...
Corporate Law : The issue was identifying the correct transfer pricing method for intercompany transactions. The conclusion holds that TNMM is app...
Income Tax : The Tribunal held that the Indian entity was only a distributor and not a technology or content owner. It rejected the Revenue’s...
Income Tax : This explains the new block assessment mechanism allowing ALP to apply across multiple years. It emphasizes reduced disputes and s...
Income Tax : The issue concerns replacement of Form 3CEB with a new reporting framework. The reform mandates structured reporting with enhanced...
Income Tax : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
CA, CS, CMA : KSCAA urged CBDT to extend due dates for assessees under Section 92E, citing an omission in Circular No. 15/2025 that created inco...
CA, CS, CMA : Chartered Accountants Association, Ahmedabad requests extension of ITR and audit due dates for AY 2025-26 citing compressed timeli...
Income Tax : CBDT sets transfer pricing tolerance range at 1% for wholesale trading and 3% for other transactions for AY 2024-25, providing cla...
Income Tax : From April 2025, TPOs can determine ALP for SDTs not initially referred or reported. This ensures accurate adjustments and complia...
Income Tax : The issue was whether high-turnover companies can be compared with a smaller software service provider. The Tribunal held that com...
Income Tax : The Tribunal held that transfer pricing adjustment cannot survive without a final assessment order post-DRP directions. Repeating ...
Income Tax : The Tribunal held that subscription to preference shares cannot be re-characterized as loans in absence of evidence showing sham t...
Income Tax : The tribunal held that the safe harbour limit applies to valuation determined by the DVO, not just stamp duty value. It ruled in f...
Income Tax : The Court held that Tribunal remand is not a fresh reference under transfer pricing law. Hence, limitation expired earlier, entitl...
Income Tax : Notification 157/2025 sets 1% tolerance for wholesale trading and 3% for all other cases for Arm's Length Price variation for AY 2...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : CBDT sets 1% tolerance for wholesale trading and 3% for other cases under Section 92C for FY 2024-25. No adverse effects from retr...
Income Tax : Stay informed on the latest Income Tax Rule changes with Notification No. 104/2023 by the Ministry of Finance. Learn about amendme...
Income Tax : Read how CBDT's Notification No. 58/2023 amends Income-tax Rules, extending Safe Harbour rules to AY 2023-24. Insights from Minist...
Sales Tax Bar Association, Delhi has made a request to FM for extension of due dates for Tax Audit, Transfer Pricing Audit, Statutory Audit and Income Tax Returns Filing for the Assessment Year 2020-21. Relevant Text of the Representation is as follows:- SALES TAX BAR ASSOCIATION December 21, 2020 To, Smt Nirmala Sitharaman, Hon’ble […]
Direct Taxes Professionals Association (DTPA), Kolkata has urged Smt. Nirmala Sitharaman, Finance Minister for extension of date of furnishing of Tax Audit Report under section 44AB to 28th February, 2021 and the due date of filing ITRs of Asst Year 2020-21 in audit cases to 31st March, 2021. CA NK Goyal, President of DTPA pointed […]
A letter is doing round on Social Media which is written on behalf of All Professionals, Tax Payers and Stakeholders in which A very humble prayer for further relaxation of provisions of section 139(1) and section 44AB of the Income Tax Act, 1961 by granting extension of due date and specified date respectively etc. from […]
Luminaires Accessories Components Manufacturers Association has requested FM to extend the due dates for Tax Audit and Income Tax Return filing to March 31, 2021 for the Assessment Year 2020-21 . Relevant Text of their representation is as follows:- To, Smt. Nirmala Sitharaman Hon’ble Finance Minister, Ministry of Finance, North Block, New Delhi 110 001. […]
Chandigarh Chartered Accountants Taxation Association has made a request for extension of various due dates under Income-tax Act, 1961 for AY 2020- 21 and for filing the Annual Reconciliation Statement (GSTR9C) along with the annual return (GSTR9) for financial years 2018-2019 & 2019-2020. Full text of their Representation to Smt. Nirmala Sitharaman, The Hon’ble Finance […]
Income Tax Bar Association, Lucknow has requested Union Finance Minister to extend the due dates for tax audit and transfer pricing audit to 31st March 2021 and the Income Tax return filing also to 31st March, 2021 at the earliest. Relevant Text of the representation is as follows:- INCOME TAX BAR ASSOCIATION LUCKNOW (REGISTERED UNDER […]
Tax Consultant & Practitioners Association of Kerala has made a request for the extension of due date of ITR for AY 2020-21 and GSTR 9, 9A & 9C for FY 2018-19 & 2019-20. They requested for extension of due date of Filing Income Tax Return, GSTR9, 9A & 9C for the FY 2018-19 & 2019-20 […]
Tax Bar Association (Regd), Allahabad has made a representation to FM with reference to Extension of Due dates of Income Tax Audit, Income Tax Return Filing, GSTR 9 and GSTR 9C. Some of the request made are as follows:- 1. Extend due date of GSTR-9 and GSTR-9C for Financial Year 2018-19 to 28/02/2021. 2. Extend […]
Tax Bar Association, Guwahati has made a Request for Extension of Due Dates for furnishing of Tax Audit Report & Income Tax Return for Assessment Year 2020-21 to Smt. Nirmala Sitharaman, Hon. Finance Minister of India. Request is been made to extend the due dates of furnishing of Tax Audit Report U/s 44AB to 28th […]
Association of Tax payers & Professional, Agra has requested to Finance Minister to extend due dates of Income Tax Return Filing for Financial year 2018-19 to 31st December 2020, It further requested that due date of filing GSTR-9 be extended to 31st January 2021 and due date of filing GSTR-9A & GSTR-9C be extended to […]
