25 Landmark Cases on 80P Deduction for Bank-Deposit Interest
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25 Landmark Cases on 80P Deduction for Bank-Deposit Interest Section 80P(2) empowers co-operative credit societies to claim a 100% deduction…
Income Tax
Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established: Bombay HC
Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established:…
Oman to be first Gulf country to impose personal income tax
Oman to be first Gulf country to impose personal income tax 1. Oman will become the first country in the…
Major Changes in ITR-1 for FY 2024–25 (AY 2025–26) – Complete Guide
The Income Tax Department has rolled out a set of significant upgrades to the ITR-1 (Sahaj) form applicable to income…
Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update
Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update Section 80P(2) empowers co-operative credit societies to claim a 100%…
Reassessment, Unexplained Deposits & Section 148A: ITAT Ahmedabad Rules on Limitation & Justification
Reassessment, Unexplained Deposits & Section 148A: ITAT Ahmedabad Rules on Limitation & Justification In a recent and significant ruling, the…
Capital Gains Already Taxed in AY 2004–05 — Section 50C Cannot Trigger Tax in AY 2007–08: Madras HC
Capital Gains Already Taxed in AY 2004–05 — Section 50C Cannot Trigger Tax in AY 2007–08: Madras HC OITO…
When ₹ 10 Kicks You Out of ITR-1: Filing Errors You Must Avoid
When ₹ 10 Kicks You Out of ITR-1: Filing Errors You Must Avoid Query 1] I regularly read the…
Presumptive taxation does not bar Sec 68 additions: Mumbai ITAT
Presumptive taxation does not bar Sec 68 additions: Mumbai ITAT ITAT Mumbai Recently have given a ruling that says…
Directorate of Public Grievances (DPG) to cover cases related to taxation
Directorate of Public Grievances (DPG) to cover cases related to taxation 1. Background: Till now complaints involving tax were…
Home Truths for Global Indians: Can NRIs Really Claim Capital Gains Exemptions under Sections 54 & 54F?
Home Truths for Global Indians: Can NRIs Really Claim Capital Gains Exemptions under Sections 54 & 54F? With the rise…
Lower or Nil TDS Certificate: A Lifeline for NRIs to Avoid Excess Tax Deduction
Lower or Nil TDS Certificate: A Lifeline for NRIs to Avoid Excess Tax Deduction Non-Resident Indians (NRIs) investing in India,…
Sending Money Abroad from India: A Practical Guide for NRIs and PIOs
Sending Money Abroad from India: A Practical Guide for NRIs and PIOs When it comes to sending money out…
ICAI to Cap Tax Audits at 60 Per Partner: A Move Toward Fairer Practice
ICAI to Cap Tax Audits at 60 Per Partner: A Move Toward Fairer Practice In a bold step aimed at…
Is deduction U/S 54F available in case the construction of new house commences before the sale of capital asset?
Is deduction U/S 54F available in case the construction of new house commences before the sale of capital asset? 1. …
ROC Bangalore imposed a penalty of Rs. 50 Lakh on Directors for Non – Disclosure of “Related Party Transactions” – Section 188 of the Companies Act – 2013
ROC Bangalore imposed a penalty of Rs. 50 Lakh on Directors for Non – Disclosure of “Related Party Transactions” –…
No penalty under Section 272A(1)(d) when Assessment Completed u/s 143(3)
No penalty under Section 272A(1)(d) when Assessment Completed u/s 143(3) Judiciary has repeatedly held that no penalty under Section…
Set-Off of STT-Paid Losses Against 30% STCG is Allowed: ITAT Mumbai
Set-Off of STT-Paid Losses Against 30% STCG is Allowed: ITAT Mumbai iShares ESG Aware MSCI ETF (ITA No. 2072/Mum/2025) Facts:…
