The Central Board of Direct Taxes ( CBDT ) has released has issued tax refunds worth Rs. 26,242 crores to 16,84,298 assessees from 1st April 2020 to 21st May 2020. The Income Tax refunds amounting...
The Central Board of Direct Taxes (CBDT) has notified Safe Harbour Rules as Rule 10TD, which shall apply for Assessment Year 2020-21. The Rule came into existence through the Income-tax (9th Amendment) Rules, 2020. The...
The Kerala High Court ruled that, Income Tax cannot be charged on Compensation paid for Acquired land. The petitioner is the absolute owner, titleholder of land to the extent of 7.33 cents with three shop...
Playing in an online casino is a favorite pastime of many. All you have to do is check out Indian online casino list prepared by CasinoHEX.in or any other similar website on a regular basis,...
The High Court of Calcutta held that the delay of 586 days in filing an appeal by the Department without explanation would amount to condoning the utter failure or negligence on the part of the...
A three-judge bench of the Supreme Court while upholding the constitutional validity of Section 43B(f) of the Income Tax Act, 1961 pertaining to certain deductions to be only on actual payment in respect of any...
Fresher Mart is hiring a company secretary with 1 – 5 years of experience. Fresher Mart is the fastest growing human resource management solutions provider in India. Headquartered in Gurgaon and also offers best-in-class services...
The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to delete education cess as per India France Double Taxation Avoidance Agreement (DTAA) for the reason that the tax imposed shall exceed 10 percent...
There’s no one that likes to make losses but there’s no making of profit without the risk of loss. While the certain loss is deductible, there are some that aren’t deductible. To qualify for deductions,...
The Central Board of Direct Taxes (CBDT), has amended the rules for the ‘Vivad se Vishwas’ scheme wherein the Board amended the time period for paying the tax arrears under the scheme. Earlier, the declarant...
The Central Board of Direct Taxes(CBDT) has notified the jurisdictional Commissioners of Income-tax as ‘Designated Authority’ under the Direct Tax Vivad Se Vishwas Act ( DTVSV Act ). According to DTVSV Act, a ‘Designated Authority’...
While dismissing the appeal, the Bombay High Court has observed that Income from Sale of Agricultural land will attract Income Tax as the assessee was dealing in the sale of properties. The Appellant Afonzo Real...
After Lok Sabha, the upper house of the Parliament, Rajya Sabha has also passed The Direct Tax Vivad se Vishwas Bill, 2020. The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in Lok Sabha...
The Central Bureau of Investigation ( CBI ) has arrested an Income Tax Officer; an Inspector, both posted at Nagaur (Rajasthan) and a Chartered Accountant in a bribery case of Rs. 4 lakh. A case...
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax cannot be levied on the compensation or enhanced compensation received on Compulsory Acquisition of the agricultural land. For the...
The Lower House of the Parliament, Lok Sabha has passed The Direct Tax Vivad se Vishwas Bill, 2020 with Amendments. The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in Lok Sabha by the...
On 27.02.2020, Income Tax Department conducted a search on a group of individuals, hawala dealers, and businessmen in Raipur. The search action was mounted on the basis of credible inputs, intelligence and evidence of the...
The Income Tax Department conducted a Search in the case of a prominent business group based in Chennai dealing in the business of nonferrous metal processing in lead, copper and aluminium and Money Lending activities....
The Law Ministry has approved to set up a circuit bench of the Income Tax Appellate Tribunal (ITAT) in Uttarakhand. The ITAT bench is scheduled to be inaugurated on February 27 by Chief Minister Trivendra Rawat....
The Central Board of Direct Taxes (CBDT) has set a deadline for the completion of the Panama and Paradise Papers probe. It has intimated the tax department’s investigation wing to complete the investigation by March...
The Delhi High Court upheld the decision of the appellate tribunal that the assessee’s failure to file the return at the material time cannot be considered as willful. That search and seizure operations under Section...
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