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15 Apr Taxpayers Get Choice in Valuing Startup Investments (Angel Tax)
The Delhi High Court ruled in favor of taxpayers, allowing them to select the method for valuing investments received from angel investors....
Tax Relief Tag
10 Apr Understanding the Tax Advantages of Section 115H for NRIs
Section 115H of the Income Tax Act provides favorable tax rates for non-resident Indians (NRIs) on specific investments, encouraging them to invest in India and boosting the country's attractiveness as a financial destination....
26 Mar Assessee is entitled to interest from the date immediately after the expiry of sixty days from the date of receipt of the GST refund application
The Hon'ble Delhi High Court, in the case of Raghav Ventures vs. Commissioner of Delhi [Writ Petition (Civil) No. 12209 of 2023 dated March 01, 2024]...
14 Mar CBDT Simplifies Business Reorganization ITR Filing Process for Successor Companies
The Central Board of Direct Taxes (CBDT) has issued an order on March 13, 2024, under section 119 of the Income-tax Act, 1961, providing relief to successor companies involved in business reorganizations such as amalgamations, mergers, or demergers sanctioned by competent authorities such as High...
14 Mar Revisions to TDS Sections 194R and 194S in the Income Tax Act, 1961
Section 194R, introduced as part of the Finance Act 2022, addresses the taxation of benefits or perks associated with business or professional activities and the subsequent deduction of taxes....
12 Mar Income Tax Exemption Announced for Specific Trusts and Institutions Under Conditions
The Income Tax Department recently released guidelines on March 8, 2024, specifying conditions under which certain trusts, institutions, universities, educational entities, hospitals, or medical institutions can be exempted from income tax....
12 Mar CBDT Releases Guidelines for Expedited Appeal Disposal
The Central Board of Direct Taxes (CBDT) has issued guidelines, dated March 07, 2024, under F.No.279/Misc/M-102/2021-ITJ, aimed at expediting the handling of appeals by Commissioners of Income Tax (Appeals/Assessment Unit) or Additional/Joint CIT(A)....
09 Mar Update on Option to File ITR-U Under Section 139(8A) of IT Act
The Income Tax Department has released a recent update, dated March 7, 2024, regarding the provision to submit an Updated Income Tax Return (ITR) under section 139(8A) of the Income Tax Act, 1961....