The Government notified the Double Taxation Avoidance Agreement (DTAA) and prevention of fiscal evasion with respect to taxes on income with the Government of Islamic Republic of Iran. The Agreement between the Government of the

The Financial Year 2020-21 has been a year full of challenges, both, globally as well as for India due to the COVID-19 pandemic. The Government has, from time to time, come out with several initiatives

The Delhi Bench of the Income Tax Appellate Tribunal held that deduction allowed under Sec. 80-IA of Income Tax Act had to be reduced from the profits for computing deduction under Sec. 80HHC of Income

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench deleted the enhancement of income made by the CIT (A). The assessee, Amit Kumar Dey received salary income and income from other sources. He filed a

The Central Board of Direct Taxes (CBDT) has notified new income tax return forms ITR-1 to ITR-7 for the assessment year 2021-22, the ministry of finance said in a release on 1 April. Keeping in

The Central Board of Direct Taxes (CBDT) notified the new Income Tax Return (ITR) Forms for Assessment Year 2021-22. The Board notified the Income-tax (7th Amendment) Rules, 2021 which seeks to further amend Income- tax

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench ruled that Reopening not valid when Time Limit for Scrutiny pending from Revised Return filed under Section 139(5). The assessee, Momentum Technologies Pvt Ltd is a

The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty on account of alleged concealment of Income. The notices under section 153A of the Income Tax Act, 1961 were issued along with questionnaires were

The Central Board of Direct Taxes (CBDT) notified the headquarters for Income Tax Authorities of Regional Faceless Assessment Centres (ReFAC). The Board notified 34 Income Tax Authorities as the Headquarter in the National Capital, Delhi.

The Ministry of Corporate Affairs (MCA) has made Form CSR-1 available on its website. The ministry has mandated filing of form by implementing entities intending to undertake CSR activities electronically for all CSR projects effective

The income tax department has sent SMSes to taxpayers on 29 March, related to mismatches between income tax returns (ITR) filed for Financial Year 2019-20 and high-value transactions. The department has asked taxpayers to either

The gross GST revenue collected in the month of March 2021 is at a record of ₹ 1,23,902 crore of which CGST is ₹ 22,973 crore, SGST is ₹ 29,329 crore, IGST is ₹ 62,842 crore (including ₹ 31,097 crore collected

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench  remitted the matter to AO on the issue of non-grant of depreciation on goodwill. The assessee, NXP India Private Limited filed its original return declaring total income

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench restored the matter to the assessing officer so as to determine the deduction in respect of business income and interest income. The assessee, Rajapura Saraswatha Credit Co-op.

The Indore Bench of the Income Tax Appellate Tribunal (ITAT) held that the refund of amounts given as advance in the previous year is not credit and hence addition under Sec.68 of Income Tax Act