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Kerala HC upholds Income Tax Disallowance Against Employer on Failure to Contribute To EPF/ESI Within Due Date [Read Order]

In a recent case, the Kerala High Court upheld income tax disallowance against employers on failure to contribute to Employee Provident Fund (EPF) /...

Oman might be the First GCC Country to impose Personal Income Tax

Appeal Pending against Assessment order passed under Income Tax Act: Kerala HC directs to consider...

Tax Treaties - covered - Income- Tax Law-TAXSCAN

Tax Treaties Issues not covered in Income Tax Law

Chartered Accountants Association of Surat Represents Anomalies in Income Tax Law and Practice...

Cash Transaction Limits under Income Tax Law

After the implementation of demonetization, the Government and the Income Tax Department favoured the use of bank transfers in place of cash transactions. The implementation of BHIM-UPI, promotion of...

No 'Occasion' required for 'Gift' under Income Tax Law: ITAT deletes Addition towards Gift from NRI Brother [Read Order]

While delivering an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that there is no occasion required for “gift” under the Income Tax Act, 1961. The...

Revenue Secretary Tarun Bajaj Hints Major Revamp in Income Tax Law

In a significant move that will have a huge impact on the taxpayers of the country, outgoing revenue secretary Tarun Bajaj told Tuesday that the government is considering tax reforms as an unfinished...

Income Tax on Diwali Gifts: All You Need to Know

Festivals are the face and essential part of our culture. Diwali is an occasion where a great deal of gifting happens. Some companies even give bonuses to their employees. While enjoying these gifts,...

Income Tax Return: CBDT enables E-filing of Updated ITR- 1 to ITR-7

The Income Tax Portal has enabled the facility of filing of updates income tax returns (ITRs) including ITR-1 to ITR-7 electronically, the department informed. As per the income tax law, so as to...

Income Tax Law does not prohibit Assessing Officer to go beyond the Reasons based on which Re-Assessment Initiated: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no prohibition under the law that the Assessing Officer is required to confine assessment on the issue for which...

Payment for Transponder Services does not amount to 'Royalty': ITAT [Read Order]

The Income Tax Appellate Tribunal, Mumbai has held that the payment for transponder services would not amount to royalty under the provisions of Income Tax Law and the relevant Double Taxation...

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