Swiss Tax Authorities Turn Focus to Transfer Pricing Issues
Switzerland has long been known for its attractive tax rates, so there has been little risk of multinational enterprises shifting tax revenue out of...
Revocation of revisionary jurisdiction u/s 263 requires assessment to be erroneous as well as...
On finding that the facts of the case do not warrant application of section 263 of the Income Tax Act, the Indore ITAT set...
Five tips to help taxpayers decide between old and new income tax regimes
Income tax slabs FY 2024-25: With the new financial year starting, salaried individuals must decide between old and new tax regimes. The default option...
Decoding Income Tax Slabs: Old vs New Regime- Check Tax Rate, Surcharge, Deductions...
Decoding Income Tax Slabs: Old vs New Regime- Check Tax Rate, Surcharge, Deductions And Other Details (image source: Canva)
New Income Tax Slabs: As the...
AO Fails To Scrutinize Cash Payments By Assessee Under Lens Of Sec 40A; Indore...
On finding a lack of inquiry on the part of AO in allowing cash sales, which renders the assessment order erroneous so far as...
ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here
The income tax return forms, ITR-1, ITR-2 and ITR-4, for FY 2023-24 (AY 2024-25) are now available for e-filing on the Income Tax department...
Important Income Tax Changes from 1st April
Important Income Tax Changes from 1st April
April 1 marks the start of the new financial year, which is usually crucial from a personal finance...
Tax planning before March 31: Do's and dont's for the last-minute tax saver
Even with increased awareness about tax planning, many people procrastinate until March 31 to make tax-saving investments. This can lead to rushed decisions and...
Global Tax Risk Program Requires Deep Transfer Pricing Knowledge
The International Compliance Assurance Program is a voluntary program that helps companies assess international tax risks to quickly achieve greater tax certainty across multiple...
What is Form 16? How To Download Form 16?
TDS is deducted on your salary income and deposited with the Income Tax Department (IT Department) every month. Form 16 is a certificate issued...
Income Tax Orders Not Conclusive Proof For Discharge In Case Under Prevention Of Corruption...
The Supreme Court on March 19, in a recent judgment held that exoneration in Income Tax proceedings by itself would not become a valid...
45-day MSME payment rule: Impact and details of Section 43B(h) explained
MSMEs are widely recognised as the backbone of the Indian economy with over 123 million individuals employed in this sector. Photo: Shutterstock To...
Income Tax Dept sets high-risk value assessment guidelines for updated ITRs, AY 2021-22 filing...
Home Economy Policy Updated - March 26, 2024 at 08:13 AM. | New Delhi Updated and non-updated ITRs are classified...
How To Check Income Tax Refund Status For FY 2023-24 (AY 2024-25)?
If you have paid more taxes than your actual liability, you can request a refund for the excess amount. The Income Tax Department offers...
All about Tax Deducted at Source – TDS Meaning, Filing, Return and Due Dates
TDS is basically a part of income tax. It has to be deducted by a person for certain payments made by them. In this...
ITR Filing: NRIs feel double taxation the biggest challenge in return filing, says survey
A recent survey has highlighted the complexities of tax compliance for NRIs and OCIs. India has the world’s largest overseas diaspora, with approximately 32...
Missed PAN linking with Aadhar? Here's how you can still file your ITR
The deadline for individuals who do not need an audit for FY 2023-24 to submit their ITR is July 31, 2024.An inoperative PAN is...
How Section 80G, 80GGA, 80GGB, and 80GGC of Income Tax Act can help you...
Income tax regulations in India allow taxpayers to claim a deduction for donations to charity in a financial year. Charity is another method...
Taxpayer Is Entitled To Deduction On Capital Gains U/s 54 – Developer Made Mistake...
While overturning the findings of CIT(A) that the assessee does not satisfy the condition laid down u/s 54 of the Income tax Act, 1961...
Finance ministry releases guideline for out-of-turn hearing of tax cases on PMO reference
A reference by the Prime Minister’s Office or “VIP” can help if an income tax appeal needs to be taken up on a priority...
Interest under Income Tax – A brief Discussion
Part F of Chapter XVII...
Tackle Tax Mismatch Notices From Income Tax Department with these methods
Here is how you can handle payment of advance tax if you have received IT department intimation.
The financial year 2023-24 is coming to an...
Received advance tax notice with inflated demand? It’s an error. Here’s what to
The IT department has acknowledged the error.
“Income Tax Department has received information about certain significant financial transactions relating to FY 2023-24 (AY 2024-25). Please...
Delhi woman gets 6 months jail for failing to file Income Tax Returns on...
The woman's lawyer argued that she is an uneducated widow and has no one to take care of her.
A Delhi Court sentenced a woman...
Expression “Yes” could not be considered to be a valid approval under Section 151...
The Delhi High Court has held that the expression “yes” could not be considered to be a valid approval under Section 151 of the...
डोनेशन पर मिलता है टैक्स डिडक्शन का लाभ, क्लेम के लिए ये बातें हैं...
हम जो डोनेशन करते हैं उसके जरिये भी हम टैक्स कटौती का लाभ उठा सकते हैं। बता दें कि इनकम टैक्स एक्ट 1961 के...
Have you checked your advance tax liability? Pay by this date to avoid penalties
Advance tax: If your estimated tax liability for any given financial year after subtracting tax deducted at source (TDS) exceeds Rs 10,000 then advance...
Income Tax Department To Send Notice For ITR Mismatch, Details Here
The Income Tax Department has initiated a process of issuing formal notice to taxpayers regarding potential discrepancies identified between the information reported in their...
ITR Filing 2024: Have new income tax regime as default? You can switch back...
Updated Mar 10, 2024 | 10:24 AM IST
ITR Filing 2024: Switch back to old tax regime
As we all know, starting from FY 2023-24, the...