Income Tax

News, Blog, Income Tax

September 12, 2024

CBDT Issues Revised SOP for Handling Internal Audit Objections | Discontinues Raising Audit Observations

Instruction No. 2/2023, dated 09-09-2024 … Continue reading “CBDT Issues Revised SOP for Handling Internal Audit Objections | Discontinues Raising Audit Observations”

Blog, News, Income Tax

September 11, 2024

[Opinion] Angel Tax Abolition | Catalyzing Start-Up Growth While Navigating Tax Evasion Concerns

Vishal Gupta & Shahrukh Kamal … Continue reading “[Opinion] Angel Tax Abolition | Catalyzing Start-Up Growth While Navigating Tax Evasion Concerns”

Blog, News, Income Tax

September 11, 2024

AO Can’t Levy Penalty for Misreporting of Income if Additions Were Made on Estimate Basis | ITAT

Case Details: VDB Infra and … Continue reading “AO Can’t Levy Penalty for Misreporting of Income if Additions Were Made on Estimate Basis | ITAT”

Blog, News, Income Tax

September 10, 2024

[Opinion] Indian Union Budget 2024 | A Half-Hearted Boost to Healthcare

Jimit Shah – [2024] 166 … Continue reading “[Opinion] Indian Union Budget 2024 | A Half-Hearted Boost to Healthcare”

Blog, News, Income Tax

September 9, 2024

[Opinion] Can’t Drive Jaguar, for Charity Drive

Meenakshi Subramaniam – [2024] 166 … Continue reading “[Opinion] Can’t Drive Jaguar, for Charity Drive”

News, Blog, Income Tax

September 9, 2024

Arranging Exhibitions for Promoting Business of Gems and Jewellery Is a Charitable Activity | ITAT

Case Details: Deputy Commissioner of … Continue reading “Arranging Exhibitions for Promoting Business of Gems and Jewellery Is a Charitable Activity | ITAT”

Blog, News, Income Tax

September 7, 2024

No Interest on Credit Balances Outstanding Under National Saving Scheme From 01-10-2024

G.S.R. 537(E). , G.S.R. 538(E), … Continue reading “No Interest on Credit Balances Outstanding Under National Saving Scheme From 01-10-2024”

Blog, News, Income Tax

September 7, 2024

No Deduction Towards Exp. If Assessee Failed to Provide Any Proof in Support of Exp. Claimed | ITAT

Case Details: Uday Jawahar Kotnis … Continue reading “No Deduction Towards Exp. If Assessee Failed to Provide Any Proof in Support of Exp. Claimed | ITAT”

Blog, News, Income Tax

September 5, 2024

LIC Mutual Fund Isn’t Public Financial Institution | Interest Payable to It Isn’t Covered by Section 43B | HC

Case Details: V2 Retail Ltd. … Continue reading “LIC Mutual Fund Isn’t Public Financial Institution | Interest Payable to It Isn’t Covered by Section 43B | HC”

Blog, News, Income Tax

September 5, 2024

[Opinion] Gift by Companies | An Analysis of Amendment to Section 47(iii) of the IT Act

Bharathi Krishnaprasad & Varshini U … Continue reading “[Opinion] Gift by Companies | An Analysis of Amendment to Section 47(iii) of the IT Act”