Searched for
S.K PATODIA LLP
Rs 17.25 lakh income of an employee was added as taxable salary despite working in UK; ITAT Delhi gives him relief under India-UK DTAAThe Income Tax Appellate Tribunal (ITAT) Delhi has ruled that even if a non-resident salaried individual has received any ‘per-diem’ paymen...- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...
- Gave up tenancy, got new flat in redeveloped property, then faced income tax notice of STCG of Rs 1.1 crore: How tenant won at ITAT MumbaiA Mumbai tenant successfully challenged a Rs 1.1 crore tax notice. He surrendered tenancy for a new flat in a redeveloped building. The Inc...
- Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...
- Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
- Deposited Rs 80 lakh cash during demonetisation: ITAT rejects property purchase claim, calls it unexplained incomeA Surat businessman's Rs 80 lakh cash deposit during demonetisation was deemed unexplained by ITAT Surat. The tribunal rejected his claim o...
- No arrest by income tax recovery officer if you have failed to pay pending tax demands; amended Finance Bill 2026The Ministry of Finance has removed the power of Tax Recovery Officers to arrest individuals for pending tax demands. This taxpayer-friendl...
- Budget 2025: ITR portal glitches, Income tax notice management; other issues plague e-filing ITR portal; Experts urge FM to look into thisFlaw in ITR portal 2.0: Experts say there exists many flaws, glitches, etc with the e-filing ITR portal. Although these issues might seem s...
- Will the government announce any tax benefits in NPS Vatsalya in Union Budget 2025?Union Budget 2025: NPS Vatsalya is an initiative aimed at helping parents plan for their children's financial security. However, there is n...
- New feature added in ITR portal: Now you can file rectification request online for incorrect ITR processing even if it’s with the AOIncome tax return: Taxpayers can now file an online application for rectification of their ITR if it was incorrectly processed. However the...
- Despite filing ITR successfully tax refund may not be credited into your bank account due to this issueIncome tax refund: No refund of income tax is given in case your name in the PAN and bank account is not the same. Even if there is a sligh...
- Individuals get relief from income tax demand for short deduction of TDS due to inoperative PAN of deducteeTDS Notice: Individuals won't get income tax notice for failing to deduct a correct amount of TDS in cases where the deductee's PAN was in-...
- TDS deduction: Why you must check status of PAN Aadhaar linking status of deductee on deduction date to avoid income tax noticeTax deducted at source (TDS): While it is important to deduct a correct amount of TDS in certain transactions, it is also important to chec...
- Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nearsThe deadline to file updated income tax return (ITR-U) is March 31, 2024 for FY 2020-21 . In light of this deadline, the tax department is ...
- Today March 15 is advance tax deadline: Has CBDT fixed inflated income data in AIS Compliance portal?Advance tax due date: March 15, 2024 is the due date for payment of advance tax for FY 2023-24. However recently the tax department made in...
- Have you checked your advance tax liability? Pay by this date to avoid penaltiesAdvance tax: If your estimated tax liability for any given financial year after subtracting tax deducted at source (TDS) exceeds Rs 10,000 ...
- No penal interest on TDS for crypto investors who failed to file the TDS return by May 31, 2023: CBDTVirtual digital assets tax: Purchaser of virtual digital assets (VDA) like Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Algorand (Algo), Sh...
- Tax demand waiver: Income tax dept can waive off demand above Rs 1 lakh in these casesIncome tax demand waiver: The Central Board of Direct Taxes (CBDT) has stated in a circular dated February 13, 2024 that the tax department...
- Wait for unprocessed income tax refund to get longer; deadline extended by 3 monthsIncome tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by t...
Load More
