ITAT Ahmedabad held that addition of short term capital gain on account of transfer of shares on presumption basis without bringing on record evidencing actual receipt of consideration cannot be ...

Currently, small businesses with an annual turnover of up to Rs 3 lakh are allowed to opt for presumptive taxation subject to ...

Not adhering to the tax audit requirements can result in hefty penalties under Section 271B of the Income Tax Act. If a ...

Assocham requests Finance Minister Nirmala Sitharaman to rationalize surcharge rates on salaried individuals by i ...

The implementation of the program has been delayed for months as a result of the discrepancy between what was written into ...

Over the years, the Income Tax Department has taken several key measures to make ITR filing easy for taxpayers. There are ...

The budget should prioritise streamlining Income Tax Return (ITR) forms and further rationalising capital gains tax, as well ...

Expert Rakesh Nangia calls for tax relief for salaried individuals and MSMEs in the upcoming Budget to boost consumption and ...

Low-income households are becoming increasingly dependent on government welfare and entitlement programs rather than work ...

It was argued on behalf of assessee that PCIT is wrong in concluding that return filed u/s 44AD did not envisage the maintenance of any Books of Accounts. Section 68 can be invoked only if there is ...

Freelancing allows for flexibility in both work and schedule, although there is no guarantee of steady work. As a freelancer, ...

The Senate kicked off the 2025 legislative session by honoring Lieutenant Governor Suzanne Crouch, who proceeded over the ...