New Income Tax e-Filing Portal: Finance Ministry expects tech issues to be resolved by First Week of August
The Finance Ministry is expecting that tech issues of the new Income Tax portal will be resolved soon and the website will function normally by the first week of August. The Income Tax Department has
Taxpayers no longer need to file Form 10-IE separately: Income Tax Department
The Income Tax Department has notified that the option to opt for the new tax regime will be available for the taxpayers filing return of income in ITR 1 or ITR 2 in the return
Income Tax Deduction benefit for Developers can’t be denied merely because of Delegation of some formalities to another Entity: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has recently held that the income tax deduction shall not be denied to the assessee, a cooperative society of Sahara India group and is engaged in the
Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be imposed merely for the reason that the assessee
CBDT again extends Electronic Filing of Income Tax Forms 15CA / 15CB
The Central Board of Direct Taxes ( CBDT ) has again extended the electronic filing of Income Tax Forms 15CA/15CB till August 15th, 2021. As per the Income-tax Act, 1961, there is a requirement to
Vodafone to pay Rs. 230 cr towards a disputed Income Tax demand, provide conditional guarantee: ITAT grants conditional stay [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench granted a conditional stay to Vodafone India Services Pvt Ltd. (VISPL) in a transfer pricing case, directing the company to pay Rs. 230 crore towards a disputed
Income Tax Dept’s Reply to RTI on Cost of Development of New Income Tax E-Filing Portal 2.0 [Read RTI Reply]
The Income Tax Department while replying to the RTI Application said that the total expenditure sanction for the project as approved by the Union Cabinet is Rs. 4,241.97 Cr for a total period of 8.5
Government provides Income Tax Exemption to amount received by Taxpayer for Medical Treatment from an Employer, says MoS Pankaj Chaudhary
The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during the financial year 2019-20
Know How to Respond to Assessment and Reassessment Notice under Section 148 of the Income Tax Act
The Income Tax Department is empowered under Section 147 of the Income Tax Act, 1961 to reassess an individual’s previously filed income tax returns. The Assessing Officer could pick your income tax return for reassessment
Relief to Bajaj Herbals: ITAT deletes Income Tax Addition on account of under-invoicing of Sales to sister concern [Read Order]
In a relief of  Bajaj Herbals, the Income Tax Appellate Tribunal (ITAT), Ahmedabad deleted that addition made on account of under-invoicing of sales to sister concern. During the previous year the appellant, M/s. Bajaj Herbals
Income Tax Dept. denies claim made by Infosys regarding filing of 1 lakh ITRs on New Portal in RTI Application
The Income Tax Department while answering the RTI Application denied the claim made by Infosys regarding the filing of 1 lakh ITRs on the new portal. The appellant, CA Pallaav Parashar filed the RTI Application
Delhi High Court orders CBI Enquiry on doubtful Income Tax Department’s Action in Sending of Emails in E-Proceedings [Read Order]
The Delhi High Court has ordered CBI enquiry on doubtful Income Tax Department’s Action in sending of Emails in E-Proceedings. The petitioner, Three C Homes Pvt. Ltd. challenged the assessment order. Petitioner has also sought
Data retrieved from Pen-drive can’t be sole basis for Income Tax Addition: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT), while deleting an addition made by the income tax authorities based on the data retrieved from the pen-drive and the admission by the vendors held
CBDT notifies Income Tax Exemption to Haryana Labour Welfare Board and Himachal Pradesh Computerization of Police Society [Read Notification]
The Central Board of Direct Taxes (CBDT) notified the Income Tax exemption under clause (46) of section 10 of the Income-tax Act, 1961 to the Haryana Labour Welfare Board and Himachal Pradesh Computerization of Police
Income Tax Department conducts surveys in Bengaluru
Income Tax Department carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of India’s leading manpower services providers. The assessee has been claiming a huge deduction u/s 80JJAA of