By: AdminJune 12, 2024Categories: Income Tax News|News4 Min Read The income tax (I-T) department could complete by March 2025 reassessments of 170 thousand notices issued between March 2021 and March…
Income Tax Dept releases Excel Utility of ITR-5 for AY 2024-25 for filing
By: AdminJune 12, 2024Categories: Important News|Income Tax News4 Min Read The Income Tax Department issued an Update dated June 10, 2024, stating that the Excel utility for ITR-5 for AY…
Notification extending the period of limitation for issuance of Show Cause Notice upheld
By: AdminJune 12, 2024Categories: Important Pronouncements4 Min Read The Hon’ble Kerala High Court in the case of Faizal Traders Private Limited v. Deputy Commissioner, Central Tax and Central Excise, Palakkad…
ICMAI’s Tax Research Department Releases Handbook on Input Tax Credit – March, 2024 edition
By: AdminJune 11, 2024Categories: GST Law|ICMAI|Important News4 Min Read The Tax Research Department of ICMAI (Institute of Cost Accountants of India) has released the Handbook on Input Tax Credit (ITC);…
ITAT Mumbai rules Tax incidence of non-compete fee is not retrospective
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read Non-compete fees received by a taxpayer will be treated as non-taxable capital receipts up to the financial year 2002-03. The amendment,…
Telangana High Court’s landmark decision: GAAR ruling impacts taxpayers
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read The Telangana High Court has ruled against a taxpayer against whom the revenue department had invoked General Anti-avoidance Rule (GAAR). According…
Government Plans to Tweak Capital Gains Tax Regime for Debt Mutual Funds
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read The government is contemplating a revision to the capital gains tax framework for debt mutual funds to provide some relief for…
ICMAI’s Tax Research Department Releases Handbook on GST on Co-operative Sector – March, 2024 edition
By: AdminJune 11, 2024Categories: GST Law|ICMAI|Important News4 Min Read The Tax Research Department of ICMAI (Institute of Cost Accountants of India) has released the Handbook on GST on Co-operative Sector…
Check your Form 26AS, AIS carefully for error-free income tax return filing
By: AdminJune 11, 2024Categories: Income Tax News|News4 Min Read July 31 – the due date for filing income tax returns for the financial year 2023-24 (assessment year 2024-25) – is…
GST needs reforms, state govts must have their say
By: AdminJune 11, 2024Categories: GST Recent News4 Min Read The Goods and Services Tax (GST) is often described as independent India’s most pathbreaking indirect tax reform. Here, India had the…