Income Tax

Blog, Advisory, Income Tax

August 25, 2024

Comparative Analysis of Amendments in Finance (No. 2) Act 2024 | Key Changes to the Income Tax Act

This article provides a comparative … Continue reading “Comparative Analysis of Amendments in Finance (No. 2) Act 2024 | Key Changes to the Income Tax Act”

Blog, News, Income Tax

August 23, 2024

Sec. 54G Relief Available Even if New Undertaking Was Set Up in Name of Firm in Which Assessee Was Partner | ITAT

Case Details: Hasmukhbhai Makanbhai Padariya … Continue reading “Sec. 54G Relief Available Even if New Undertaking Was Set Up in Name of Firm in Which Assessee Was Partner | ITAT”

Blog, News, Income Tax

August 23, 2024

CBDT Standardizes the Process of Filing Application u/s 10(46A)

F.No.196/82/2024-ITA-I, dated 20-08-2024 Section 10(46A) … Continue reading “CBDT Standardizes the Process of Filing Application u/s 10(46A)”

News, Blog, Income Tax

August 22, 2024

All Indian Citizens Aren’t Required to Obtain Income-Tax Clearance Certificate Before Leaving Country | CBDT

Press Release, dated 20-08-2024 Section … Continue reading “All Indian Citizens Aren’t Required to Obtain Income-Tax Clearance Certificate Before Leaving Country | CBDT”

Blog, News, Income Tax

August 22, 2024

ITAT Upheld Penalty Levied on Employee Who Habitually Claimed Refunds by Overstating Deduction Under Chapter VI-A

Case Details: Sanjeev Kumar Manchand … Continue reading “ITAT Upheld Penalty Levied on Employee Who Habitually Claimed Refunds by Overstating Deduction Under Chapter VI-A”

Blog, News, Income Tax

August 21, 2024

Interest Income Earned on FDs to Be Set Off Against Shortfall in Collection of Maintenance Charges by Housing Society

Case Details: Sohamnagar Co-Operative Housing … Continue reading “Interest Income Earned on FDs to Be Set Off Against Shortfall in Collection of Maintenance Charges by Housing Society”

Blog, News, Income Tax

August 20, 2024

AO to Be Punished With One-Week Imprisonment for Not Withdrawing Demand Despite Order of HC

Case Details: Prashant Chandra vs. … Continue reading “AO to Be Punished With One-Week Imprisonment for Not Withdrawing Demand Despite Order of HC”

Blog, News, Income Tax

August 17, 2024

Tax Liability Cannot Be Shifted to an Entity That Was Shown as a Vendor in Registered Sales Deed | HC

Case Details: Sushant Agarwal (HUF) … Continue reading “Tax Liability Cannot Be Shifted to an Entity That Was Shown as a Vendor in Registered Sales Deed | HC”

Blog, News, Income Tax

August 17, 2024

[Opinion] Allotment of Shares Is a Taxable Event?

CA Pilar Shivanand Nayak & … Continue reading “[Opinion] Allotment of Shares Is a Taxable Event?”

Blog, News, Income Tax

August 17, 2024

Compensation Received From Flipkart for Diminution in Value of ESOPs Is Taxable as Perquisite | HC

Case Details: Nishithkumar Mukeshkumar Mehta … Continue reading “Compensation Received From Flipkart for Diminution in Value of ESOPs Is Taxable as Perquisite | HC”