Income Tax News
Exemption of Income Tax for Dairy Cooperative Society
A primary cooperative society engaged in supplying of milk to the Federal Cooperative Society is eligible to claim deduction in...
Read moreSome FAQ related to Section 43B(h) of the Income Tax Act
In our earlier post we have discussed the newly introduced Section 43B(h) of the Income tax act which says that...
Read more![[Live] Updates and Tax changes for Budget 2023 | Tax on cryptocurrency | Income tax and GST udpates in Budget 2023 [Download Bill]](https://www.taxontips.com/wp-content/uploads/2023/02/Budget-2023-350x250.webp)
Relief for the taxpayers with old demand related to A.Y. 2015-16 and before [Interim Finance Bill, 2024]
The proposal aims to waive off the recovery of the old outstanding demands up to INR 25,000 for the period...
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CBDT notifies Income Tax Return Forms for the Assessment Year 2024-25
ITR-4 (SUGAM) is for resident individuals, HUFs and Firms (other than LLP) having total income upto Rs. 50 lakh and...
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Reassessment notice for AY 2013-14 cannot be issued after 31.03.2021 by taking relief of TOLA [Read order]
We are unable to comprehend the contention raised that if the notice dated 30th May 2022 under Section 148A(b) of...
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Investment by Foreign companies in Indian companies cannot be considered as undisclosed income of foreign companies [Read order]
An investment made by a foreign company in an Indian company is a capital account transaction and such transaction cannot...
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No deduction of expenses under Income tax Act if payment is not made till 31st March: 43B amendment [MSME]
Any sum payable by an assessee to a micro and small enterprise in respect of an expenditure, beyond the time...
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Income Tax Department conducts search operations in Mumbai
Credible evidences recovered during the search have established that the flagship company has made unaccounted cash sales of around Rs....
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Income tax department has issued guidelines in relation to TDS u/s 194-O of the Act [Read circular]
fees charged by the seller-side ECO (Rs 3 charged to the seller) and buyer-side ECO (Rs 1 charged to the...
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Income tax notice for High value transaction received from Income tax department
Hence, it is advisable to check the information or data available on E-filing portal and it is advisable but not...
Read moreLast chance to declare foreign assets in income tax return for AY 23-24 or you can face Rs. 10 lakh penalty
if a person does not discloses foreign asset in it's income tax return it could result in a penalty under...
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What is the fees for filing Appeal before CIT(A) under Income tax Act?
The assessee has to file Appeal within 30 days from the date of service of order or demand as the...
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TCS at 20% under Income tax Act on sending money outside India under LRS. Applicable on non-resident?
Thus, after 01.10.2023, any remittance made outside India for any purpose i.e. maintenance of family or investment etc. 20% TCS...
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Assessment order in name of deceased is not valid and void ab initio [Read order]
Reassessment initiated in the name of deceased person and since no response was received from assessee Ld. AO passed order...
Read moreWhat is 133C notice being received by Assessee under Income tax in relation to TDS?
The notice is being served on the deductor for AY 2021-22 or AY 2022-23 in relation to the feedback being...
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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
- Taxation and Income tax return of Foreign Companies Earning Income from India under special rates
- Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting
- Notice from Income tax department e-verification cell for non-filing ITR. How to respond
- Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN
- Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
- Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
- Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
- ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
- Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
- No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
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