Immunity from penalty u/s 270A, prosecution u/s 276C or 276CC – Section 270AA
In our earlier post we had discussed what is penalty u/s 270A which is effective for cases of A.Y. 2017-18...
Wednesday, January 28, 2026
Penalty on misreporting and under reporting u/s 270A of the Income tax act w.e.f. A.Y. 2017-18 cases
Section 270A was introduced by Budget 2016, which was made effective for cases relating to AY 2017-18 in place of...
Refund issued u/s 143(1) of Income tax act can be withhold by AO under various circumstances – SC judgement
In judgement in case of Vodafone Idea Ltd. v. Assistant Commissioner of Income-tax 116 taxmann.com 393 Dt 29.04.2020, it was...
Exemption u/s 54F can be allowed even if amount not deposited in special capital gain account scheme – Jaipur ITAT
Jaipur ITAT in a recent judgement in case of Goverdhan Singh Shekhawat v. Income Tax Officer, Ward- 6(1), Jaipur Dt....
Supreme Court Judgement in case of TDS on payment made to foreign cricket association
In the present case judgement was announced by Hon'ble Supreme court in case of PILCOM v. Commissioner of Income-tax on...
AO cannot travel beyond the scope of limited scrutiny without prior approval of appropriate authority – Jaipur ITAT
In a recent judgement of Hon'ble ITAT Jaipur pronounced on 27.02.2020 in case of Shri Sita Ram Swami v. The ITO,...
TDS on dividend received from domestic companies for equity shares – Section 194:
With Budget, 2020 our Hon’ble Finance Minister demolished Dividend Distribution tax and now dividend would be taxable in the hands...
12AA registration should be provided to new trust on basis of objects even when no activities have been performed – Supreme court
In a recent landmark judgement in case of Ananda Social & Educational Trust v. Commissioner of Income tax, Hon’ble Supreme...
Clause 30C and 44 of Tax Audit Report kept in abeyance for another year.
CBDT vide circular 10 of 2020 has kept clause number 30C and 44 of Tax audit report in abeyance till...
Constitutional validity of Leave encashment u/s 43B of the Income Tax act – Landmark Supreme Court Judgement
This judgement was announced in case of Union of India v. Exide Industries Ltd. (116 taxmann.com 378) Dt 24.04.2020 wherein...
Exemption/ deduction u/s 54F can also availed if amount is deposited in CGAS before filing of return u/s 139(4)
In a recent Judgement pronounced by Jaipur Tribunal in case of SMT. RENU JAIN NEW DELHI vs. ITO, WARD 5(2)...
Who will be considered as Resident individual after amendment in Budget 2020?
There was a confusion relating to the definition of resident as per section 6 when same was announced in Budget...
What is Form 67 which is required to take Foreign tax credit (FTC) and how do you file it?
Now with advancement in technologies and with Indian's working abroad or setting up companies in abroad and earning outside India...
Major updates relating to Vivad se Vishwas act, 2020 Dt. 22.04.2020
Vivad se Vishwas was announced as a dispute resolution scheme by Finance ministry to resolve the pending disputes under Income...
TDS on selling on E-commerce platform under Income tax act – Section 194-O
Section 194-O which deals with TDS by E-commerce operator on payment made to E-commerce participant was inserted by Finance Bill,...
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
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