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Tax Deduction

Govt.-Commissioned Developer Not Required to Own Infrastructure to Claim Deduction u/s 80-IA(4): Bombay HC [Read Order]

The Bombay HighCourt recently clarified that an assessee executing infrastructure projects for the Government is not required to “own” the...

No S. 80-IC Benefit on Duty Drawback as it is not Income Derived from Industrial Undertaking: Delhi...

Interest on Investment by Co-operative Society with another Co-operative Society Eligible for Income...

NBFC submits PAN of Parties from whom it claimed Bad Debts: ITAT upholds Income Tax Deduction [Read...

Regd. Seller cannot be Denied Tax Deduction because Regd. Dealer Stole ST-15 Forms: Punjab & Haryana...

‘Act of God’ Beats ‘Act of Law’: ITAT Cites Kerala Floods as Valid Reason for Belated ITR, Kozhikode Co-op Society Wins 80P Deduction [Read Order]

In a ruling that prioritizes empathy over rigid procedural compliance, the Income Tax Appellate Tribunal ( ITAT ), Cochin Bench has allowed a co-operative society to claim an important tax deduction...

ITAT Gives Rural Trust Second Shot at 80G Tax Benefits After Portal Confusion [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has granted a small rural trust from Surat district, another chance to secure crucial 80G tax-exempt status after its initial application was...

May 2025 Income Tax Compliance Calendar: Key Dates and Deadlines

May 2025 is an important month for businesses, government offices, financial institutions, and charitable organizations when it comes to fulfilling their income tax compliance obligations. The month...

Section 80JJAA: Know All About Employment Generation Deduction

Introduction The Income Tax Act, 1961, has long incorporated provisions designed not merely to collect revenue but to advance broader policy objectives. Among these, Section 80JJAA has served as a...

Section 80JJAA - Employment Generation Incentives - Employment - taxscan

ITAT disallows Tax Deduction claimed u/s 35(1)(ii) for Donation to Unapproved Scientific Research Trust [Read Order]

In a recent judgment, the Ahmedabad bench of the Income Tax Appellate Authority (ITAT) set aside the deduction claim of an assessee for the donation made by him to an unapproved scientific authority....

Section 80GGC Income Tax Deduction: Detailed Explanation

Donating to political parties is a common practice in India, particularly among salaried individuals and businesses. Today, let’s understand Section 80GGC of the Income Tax Act, which provides tax...

How are Cryptocurrencies Taxed in India?

1Q: What are digital assets? A: Digital assets include cryptocurrencies, non-fungible tokens ( NFTs ), tokenized digital securities, and any other assets stored in a digital or blockchain...