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CBDT Notifies S. 80G Deductions to Shree Balakrishna Lalji Temple, Mumbai, as a Historic Public Worship Place

Sandhra Suresh

The Ministry of Finance, through its Department of Revenue and the Central Board ofDirect Taxes (CBDT), has issued Notification S.O. 5551(E) dated...

ESOP Discount Allowable as Business Deduction: ITAT affirms Consistent View in Goldman Sachs Case...

Inside the Tax Files: Who Paid the Most Tax in India This Year?

Disallowance of Excess Deductions and House Property Loss in Revised Returns: ITAT Sets Aside Order...

Income Tax Dept Introduces TAX ASSIST - Go to Support for all Tax Concerns

The Indian State Where There's No Income Tax: Discover the Nation’s Best-Kept Financial Secret!

Imagine living in a place where your hard-earned money truly stays in your pocket, no matter how much you earn. No annual rush to file returns, no stress over deductions, and no late-night...

Jharkhand HC Grants Rs. 90,000 Monthly Alimony per month After RTI Reveals Husband’s Rs. 21 Lakh Annual Income [Read Order]

The Jharkhand High Court has granted Rs. 90,000 as monthly alimony after an RTI disclosure revealed that the husband earns an annual income of Rs. 21 lakhs. In this case, the appellant,...

CSR Expenditure Eligible for 80G Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Mumbai recently delivered a significant ruling, allowing companies to claim deductions under Section 80G for Corporate Social Responsibility (CSR)...

[TAXSCAN 360] How to Pay Less Taxes: Tax Exemptions and Deductions Available for the Salaried Class

It wouldn’t be a hyperbole to say that the salaried individuals are the backbone of the Indian revenue system as the taxpayers are mostly constituted by them. As a salaried employee, one might have...

Tax Exemptions - Tax savings - TAXSCAN 360 - Tax Exemptions and Deductions - Taxscan update - Taxscan

Supreme Court refuses to Hear Plea challenging 45 Day MSE Payment Rule u/s 43B(h) of Income Tax Act

The Supreme Court refused to entertain a petition submitted by Micro and Small Enterprises ( MSEs ) challenging the 45-day payment rule outlined in Section 43B(h) of the Income Tax Act, during its...

How Delayed MSE Payments Trigger Deferred Deductions for Corporates w.e.f. 1st April 2024: Section 43B(h) Explained

With an effort to improve the liquidity of the Micro Small and Medium Enterprises, the government has brought some changes specifically in Companies Act, 2013. Following the same, the Finance Act,...

Delayed MSE Payments - Micro and Small Enterprises - MSEs - Deferred Deductions - Deferred Deductions for Corporates - Micro Small and Medium Enterprises - MSME - Deductions - TAXSCAN

No Income Tax Deduction Allowable for Commission Payments Without Examination/Verification of Agreement between Payer and Dealers: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) held that the Assessment Order allowing deduction of commission payments has been passed without verification, which should have been made,...