Category: Income Tax
Due date extended for filing tax audit and other reports to 07.10.2024 for AY 2024-25. CBDT has extended the due date for filing tax audit and other audit reports extended from 30.09.2024 to 07.10.2024 for AY 2024-25 F. No. 225/205/2024/ITA-llGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of …
In best judgment assessment case, it could not be alleged that AO did not make proper enquiries In a recent judgment, the ITAT Chennai has held that when assessment was framed on best judgment basis wherein the income is assessed to the best judgment of AO without considering …
CBDT increase monetary limits of tax effect for filing appeals by the Income Tax Department CBDT has further enhanced the monetary limits for filing appeals by the Income Tax Department before Income Tax Appellate Tribunal, High Courts and Special Leave Petition (SLP)/appeals before Supreme Court. Earlier CBDT vide …
AO can’t review own decision by rectification u/s 154 to disallow late deposit of PF In a recent judgment, the ITAT Delhi has held that when Assessing Officer consciously allowed deduction of late deposit of PF, subsequently, by relying on the judgment of the Hon’ble Supreme Court he …
Excel Old vs New Tax Regime Calculator to compare Tax under old and new Personal Tax Regime u/s 115BAC for AY 2025-26. Old vs new tax regime calculator in excel. Release of excel tax calculator for New Tax Regime for AY 2025-26. This Excel Calculator utility has been …
Addition u/s 68 on the premise that cash was deposited 16 days after receipt quashed by ITAT In a recent judgment, the ITAT Delhi has quashed the addition u/s 68 for cash deposited in bank adopting an unreasonable approach that cash was deposited 16 days after the receipt …
Government notifies the Direct Tax Vivad se Vishwas Rules, 2024. Direct Tax Vivad Se Vishwas Scheme, 2024 shall come into force from 1st day of October, 2024. In pursuance of the announcement in Union Budget 2024-25 the Central Board of Direct Taxes (CBDT) has notified the Direct Tax …
Direct Tax Vivad Se Vishwas Scheme, 2024 to come into force from 1st October, 2024 MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 103/2024 New Delhi, the 19th September, 2024 S.O. 4016(E).—In exercise of the powers conferred by sub-section (2) of section 88 …
CBDT approves Auroville Foundation as ‘Other Institution’ for research in social science or statistical research u/s 35(1)(iii) MINISTRY OF FINANCE Department of Revenue CENTRAL BOARD OF DIRECT TAXES Notification No.102/2024 New Delhi, the 18th September, 2024 S.O. 3961(E).—In exercise of the powers conferred by clause (iii) of sub-section …
Order u/s 148A(d) mentioning sale proceeds as income chargeable to tax quashed. Sale proceeds is not income chargeable to tax. SC declines to interfere with HC order. In a recent order, Hon’ble Supreme Court has declined to interfere with the order of Hon’ble Madhya Pradesh High Court quashing …
