Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Taxpayers should be alert to the reconciliation of information under GST and Income Tax, as the ITR forms for Assessment Year 2025–26 have been notified, and filing is set to begin soon. Discrepancies may lead to queries and increased compliance costs. A typical Goods and Services Tax (GST) assessee is required to file several monthly […]
The Central Board of Direct Taxes (CBDT), in anticipation of the passage of the upcoming Income Tax Bill, has established an implementation program. As per the action plan for FY 2025-26, the Board aims to educate at least half of its workforce by the end of March. The new Income Tax Bill, following its introduction […]
A writ appeal filed by a gas cylinder and stove distributor has been partly allowed by the Madras High Court, which set aside the condition imposed by a single judge to pay 15% of the disputed tax amount. Dhanapal Eswari, a distributor of gas cylinders and stoves, couldn’t file her Income Tax Return for Assessment […]
The central government, on May 15, 2025, approved 187 startups for income tax exemption. A 100% income tax deduction on profits is allowed for eligible startups for any three consecutive years within a ten-year period from the date of incorporation. The income tax benefit scheme is made to assist emerging businesses in their initial years, […]
The Gujarat High Court handled a case in which the applicant, Ujala Dyeing and Printing Mills Private Limited, made an error in its income tax return filed on September 24, 2018, while claiming a tax refund of ₹38,08,115. In column 23, the applicant has incorrectly revealed the disallowable expenses rather than the wrong columns 15 […]
The High Court of Himachal Pradesh has cancelled an assessment order issued by an officer in Baddi for the financial year 2009–2010. The court decided that the process for changing jurisdiction was not followed correctly, as required under section 127 of the Income Tax Act of 1961. Deluxe Enterprises, founded by Mr. Vivek Bhalla in 1997, is […]
The Telangana High Court declared that income tax garnishee notices against the taxpayer’s bank accounts were invalid, pointing out that the notices were sent despite pending appeals and a stay request. The applicant/taxpayer, Unique Engineering Enterprises Pvt.Ltd, contested the garnishee notices issued dated 08.01.2025 by respondent No. 1, attaching its bank accounts held with respondents […]
The interruption has been refused by the Rajasthan High Court with the beginning of the proceedings u/s 153C of the Income Tax Act, 1961 (“the Act”) that were alleged to have started only based on specific WhatsApp Chats, marking that the data in the chats were corroborated by certain transactions and therefore the said chat […]
Starting April 1, 2025, new IT laws were put into place. These new changes include updated income tax rates and better benefits for those looking for high rebates, making it easier for certain individuals to save on their taxes. Finance Minister Nirmala Sitharaman announced such amendments in the Union Budget aimed at increasing the disposable […]
