Income Tax

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Income Tax

Penalty order under section 271(1)(c) quashed: Delhi HC...

Penalty order under section 271(1)(c) quashed: Delhi HC

Introduction   A recent order of the honourable Delhi High Court has ruled that a penalty order passed by the Income Tax Authority under the prov...

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Income Tax

Digitally signing of notice u/s 148: not amount to issu...

Digitally signing of notice u/s 148: not amount to issuance of notice

Introduction   A recent order of the Honourable Allahabad High Court has clarified that mere digitally signing of notice under section 148 of the...

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Income Tax

IT Faceless Assessment Quashed due to Non-compliance wi...

IT Faceless Assessment

A divisional bench of Bombay High Court consisting of Justice Pushpa v. Ganediwala and Justice A.S. Chandurkar in a recent case of Pankaj s/o Roshan Dhawan...

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Income Tax

New Income Tax Rules effective from April 1, 2022

Income Tax Rules

As the new financial year kicks in, there are many income tax rules that also sets in. From income tax on crypto assets to new tax rules on EPF interest,.....

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Income Tax

Dilemma over delayed interest payment

delayed interest payment

The process of getting a refund back from the Income Tax Department is in itself a very tedious task. It comes with its own set of challenges and delays. O...

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Income Tax

Provisions related to cash transactions under Income Ta...

Cash transactions under income tax

Demonetization is not the only step that government took to regularize cash transactions taking place in India. Apart from demonetization, some other steps...

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Income Tax

Tax on Income from Share Market

Tax on income from shares

Almost everyone is aware of the incidence of tax on the income earned from salary, rental income and income from business. But very few are aware of tax on...

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Finance & Accounting Income Tax

A detailed guide on IAS 12 on Income Taxes

IAS 12

Because its concept and application are difficult to understand, deferred income tax is one of the top ten causes of accountants' challenges. When it comes...

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