The Central Board of Direct Taxes (CBDT) notified the guidelines for filling the particulars in Income‐tax Return Form‐ 3 for the Assessment Year 2021‐22 relating to the Financial Year 2020‐21. What is ITR-3? The ITR

In a recent ruling, the division bench of the Bombay High Court held that discovering an incriminatory material during the search is a mandatory requirement to initiate proceedings against the assessee under section 158BC of

The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the disallowance made on account of parking space provided to shop owners/office owners of the mall. The assessee, M/s. Crown International is a partnership firm engaged

The Deloitte has invited applications for the post of Risk Advisory - Accounting & Internal Controls: Operational Risk: Senior Analyst. Role: Builds own understanding of our purpose and values; explores opportunities for impactDemonstrates strong commitment

Extensive enforcement action by the Income Tax Department (ITD) has led to seizures worth over Rs 818 crore and detection of undisclosed income of over Rs 9,334 crore.  Impact of action visible in the increase

The finance minister Nirmala Sitharaman, in the Union Budget 2023 provided Income Tax Relief to Market Linked Debentures. The proposed amendment brought out by the Union Budget will take effect from the 1st day of

In ACIT v. Rajkot Nagrik Sahkari Bank Ltd., the ITAT Rajkot allowed the assessees’ claim towards amortization of security premium “Held To Maturity (HTM) Category” on the basis of the decision of the jurisdictional High

The Central Board of Direct Taxes (CBDT) notified the tolerance limit of 1% for wholesale traders and 3% for others under transfer pricing for Assessment Year 2020-21. The Central Government hereby notifies that where the

Action under the Income-tax Act, 1961 has been taken on the 12 trusts/entities, involving 26 individuals of Indian origin/nationality, based upon the information received from the German Tax Authorities under the Double Taxation Avoidance Agreement

The Deloitte invited applications for the post Risk Advisory- A & IC - IT&SA - ITGC - Assistant Manager. Qualifications Fresher - 1 year post qualification experience in Internal Audit, preferably working in the in

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has recently held that the provisions of section 54 of the Income Tax Act, which is a beneficial provision shall be interpreted liberally. The Tribunal, while concluding

The High Court of Kerala has directed the petitioner to deposit 10% of the penalty amount imposed under Section 67(1)(b) and (d) of the Kerala Value Added Tax (KVAT) Act, 2003 to stay the recovery

In a recent ruling,the division bench of the Punjab & Haryana High Court held that the provisions of section 194J of the Income Tax Act, 1961 is not applicable in case of payments made in

The guidelines and procedure for attending to objections raised in the course of audit of assessment work by the Comptroller and Auditor General of India (Revenue Audit) are laid down in the Instruction No of

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that income tax appeal filed after moratorium period in IBC Act is not maintainable. The aforesaid observation was