The Central Board of Direct Taxes (CBDT) has launched an electronic campaign to resolve mismatches between income and transactions
This article provides a detailed exploration of Section 61, including its text, key provisions, and practical implications for taxpayers.
The case pertains to the tax treatment of income arising from the sale of Bitcoin, a virtual digital asset (VDA), during the financial year 2020-21
The government has focused on simplifying tax laws, improving compliance and promoting economic growth. Let us analyze the major changes.
This guide breaks down the features, pros, and cons of both regimes, helping NRIs choose the one that best suits their financial goals.
17 December 2024
1038 Views
In certain instances, due to unforeseen circumstances, the assessee or auditor may file the audit report for the trust in Forms 9A, 10, 10B, or 10BB after the due date. As a result, it has become a common practice for the IT Department to treat the receipt amount as income of the trust and levy tax on it.
The concepts of 'underreporting of income' and 'misreporting of income' are two different charges with very clear boundaries. Sec. 270A(2) of the Income Tax Act deals with the concept of 'underreporting of income'
16 December 2024
415 Views
The recent rejection of a rectification request under Section 154 of the Income Tax Act, 1961, by the Income Tax Department without providing any explanation has drawn criticism.
This article explores the interaction between Transfer Pricing and GST in India, along with the implications for businesses.
A GST demand arises when a taxpayer fails to pay their due taxes.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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