Income Tax

News, Blog, Income Tax

August 8, 2024

Sale of Right & Interest in Shares Not Taxable If Same Were Acquired Through Agreement Executed Outside India | ITAT

Case Details: Nikesh Arora vs. … Continue reading “Sale of Right & Interest in Shares Not Taxable If Same Were Acquired Through Agreement Executed Outside India | ITAT”

Blog, News, Income Tax

August 7, 2024

No Higher TDS/TCS If Deductee/Collectee Dies On or Before 31-05-24 Without Linking PAN-Aadhaar | CBDT

Circular no. 8/2024, dated 05-08-2024 … Continue reading “No Higher TDS/TCS If Deductee/Collectee Dies On or Before 31-05-24 Without Linking PAN-Aadhaar | CBDT”

Blog, News, Income Tax

August 7, 2024

ITAT Quashed Order as AO Started Making Enquiries on Loans Even Before Converting Case Into Full Scrutiny

Case Details: Sukhdham Infrastructures LLP … Continue reading “ITAT Quashed Order as AO Started Making Enquiries on Loans Even Before Converting Case Into Full Scrutiny”

Blog, News, Income Tax

August 6, 2024

[Opinion] Critical Appreciation of Amendments Proposed in Finance (No. 2) Bill, 2024

CA V K Subramani – … Continue reading “[Opinion] Critical Appreciation of Amendments Proposed in Finance (No. 2) Bill, 2024”

Blog, News, Income Tax

August 6, 2024

HC Quashed Reassessment Notice Issued by JAO Without Conducting Faceless Assessment as Envisaged u/s 144B

Case Details: Jasjit Singh v. … Continue reading “HC Quashed Reassessment Notice Issued by JAO Without Conducting Faceless Assessment as Envisaged u/s 144B”

Blog, News, Income Tax

August 5, 2024

CBDT Specifies Situations Where Enquiries/Verification Tasks by Verification Unit Not to Be Communicated Electronically

F. No. 1871712024-ITA-I, dated 01-08-2024 … Continue reading “CBDT Specifies Situations Where Enquiries/Verification Tasks by Verification Unit Not to Be Communicated Electronically”

Blog, News, Income Tax

August 5, 2024

AO to Record Specific Finding That Undisclosed Income Was Based on Tangible Material Before Levying Penalty u/s 271AAA

Case Details: Ajay Kumar Sood … Continue reading “AO to Record Specific Finding That Undisclosed Income Was Based on Tangible Material Before Levying Penalty u/s 271AAA”

News, Blog, Income Tax

August 3, 2024

Record 7.28 Crore ITRs Filed by July 31, 2024; 72% of Taxpayers Opted for New Tax Regime | FinMin

Press Release, dated 02-08-2024 The … Continue reading “Record 7.28 Crore ITRs Filed by July 31, 2024; 72% of Taxpayers Opted for New Tax Regime | FinMin”

Blog, News, Income Tax

August 3, 2024

Corpus Donations Can’t Be Treated as Rent Just Because Trust Declared Additional Service Income Under Amnesty Scheme

Case Details: Thamizhvel PT Rajan … Continue reading “Corpus Donations Can’t Be Treated as Rent Just Because Trust Declared Additional Service Income Under Amnesty Scheme”

Blog, News, Income Tax

August 2, 2024

[Opinion] Taxation of Income from Buyback of Shares | A Comprehensive Overview

CA Akrati Sogani – [2024] … Continue reading “[Opinion] Taxation of Income from Buyback of Shares | A Comprehensive Overview”