Income Tax

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January 31, 2024

HC Condones Delay in Filing ITR as Co. Was Under Bonafide Belief That It Can’t File ITR If AAR Ruling is Pending

Case Details: M/s.Tiong Woon Project … Continue reading “HC Condones Delay in Filing ITR as Co. Was Under Bonafide Belief That It Can’t File ITR If AAR Ruling is Pending”

Blog, News, Income Tax

January 30, 2024

CBDT Notifies ITR-6 for the Assessment Year 2024-25

Notification no. 16/2024, dated 24-01-2024 … Continue reading “CBDT Notifies ITR-6 for the Assessment Year 2024-25”

Blog, News, Income Tax

January 29, 2024

Loss on Reduction of Capital Invested in Shares of Co. is Eligible for Set Off Against Capital Gains | ITAT

Case Details: Tata Sons Ltd. … Continue reading “Loss on Reduction of Capital Invested in Shares of Co. is Eligible for Set Off Against Capital Gains | ITAT”

News, Blog, Income Tax

January 27, 2024

ITAT Can Rectify Its Order If It Failed to Consider Amendment Made in CBDT Circular While Deciding the Appeal | HC

Case Details: Ajit Pramod v. … Continue reading “ITAT Can Rectify Its Order If It Failed to Consider Amendment Made in CBDT Circular While Deciding the Appeal | HC”

Blog, News, Income Tax

January 27, 2024

[Opinion] Pre-Budget 2024-25 | Wishlist of 15 Critical Grey Areas in Direct Tax Domain

Mayank Mohanka – [2024] 158 … Continue reading “[Opinion] Pre-Budget 2024-25 | Wishlist of 15 Critical Grey Areas in Direct Tax Domain”

Blog, News, Income Tax

January 25, 2024

CBDT Releases Explanatory Notes Pertaining to Provisions of the Finance Act, 2023

CIRCULAR NO. 1/2024, dated 24-01-2024 … Continue reading “CBDT Releases Explanatory Notes Pertaining to Provisions of the Finance Act, 2023”

Blog, News, Income Tax

January 25, 2024

Direct Tax to GDP Ratio Has Increased From 5.62% in F.Y. 2013-14 to 6.11% in F.Y. 2022-23 | CBDT

Press Release, dated 23-01-2024 The … Continue reading “Direct Tax to GDP Ratio Has Increased From 5.62% in F.Y. 2013-14 to 6.11% in F.Y. 2022-23 | CBDT”

Blog, News, Income Tax

January 25, 2024

Delhi HC Quashes CIC’s Order Directing IT Dept. to Provide Info. Related to PM CARES Fund

Case Details: CPIO/Deputy Commissioner of … Continue reading “Delhi HC Quashes CIC’s Order Directing IT Dept. to Provide Info. Related to PM CARES Fund”

Blog, News, Income Tax

January 24, 2024

[Opinion] An Overview of Issues Relating to Payments to MSMEs vis a vis Deduction u/s 43B of the Income-tax Act

CA V K Subramani – … Continue reading “[Opinion] An Overview of Issues Relating to Payments to MSMEs vis a vis Deduction u/s 43B of the Income-tax Act”

Blog, News, Income Tax

January 24, 2024

Severance Compensation Received on Voluntary Basis Towards Termination of Employment is a Capital Receipt | ITAT

Case Details: Shamik Pankajbhai Parikh … Continue reading “Severance Compensation Received on Voluntary Basis Towards Termination of Employment is a Capital Receipt | ITAT”