Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
ITR-U Under Section 139(8A): A Costly Last Resort After 31st December for Missed Belated and Revised Returns
ITR-U: The High-Cost Compliance Window Beyond 31st DecemberA taxpayer who misses the 31st December deadline for filing a belated or revised return exits the normal compliance cycle. The only remaining recourse thereafter...
Supreme Court on Section 44C: DIT (Intl. Tax), Mumbai v. American Express Bank Ltd. – Cap on Head Office Expenditure for Non-Residents Reaffirmed (Judgment dated 15.12.2025)
Analysis of judgement of Supreme Court delivered on 15.12.2025 in the case of Director of Income Tax, Mumbai v. M/s American Express Bank Ltd., on the issue of Deduction of head office expenditure in the case of non-resi...
Schedule FA Disclosure in ITR Explained: Foreign Assets, ESOPs, RSUs, Dividends & Penalties under Black Money Act | Complete Compliance Guide
Schedule FA
(Foreign Assets) is mandatory for Resident & Ordinarily Resident
(ROR) individuals who hold any foreign asset or foreign income at
any time during the relevant financial year, even if:
Asset is d...
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Black Money (Undisclosed Foreign
Income and Assets) and Imposition of Tax Act, 2015 Sections 44 and 45Penalty Provisions – Statutory
Exclusions, Monetary Thresholds and ESOP Amendment 1. Overview:-The Black...
Alleged Bogus Purchases: Deletion vs Remand Depends on Charging Provision — ITAT Delhi Deletes Addition u/s 69, ITAT Pune Orders Remand u/s 37 | KDP Infrastructure Pvt. Ltd. & Taparia Tools Ltd. (2025)
Alleged Bogus
Purchases – Divergent Legal Treatment Case 1:M/s KDP
Infrastructure Private Limited v. DCITITAT Delhi |
ITA No. 1094/Del/2024 | Order dated 12.12.2025 Case 2:ACIT, Circle-1
v. Taparia Tools ...
Who is eligible to claim depreciation in a lease transaction - Whether the lessor (person who hires or leases the asset for a consideration) or the lessee (who hires for business use) ?
Who
is eligible to claim depreciation in a lease transaction - Whether the lessor
(person who hires or leases the asset for a consideration) or the lessee (who
hires for business use) ?
As per income tax Act, 1961,...
Revision of Tax Audit Report – A Comprehensive Professional Analysis
Revision of Tax Audit Report – A
Comprehensive Professional Analysis 1. General PrincipleA Tax Audit Report, once issued,
is ordinarily not intended to be revised. The very nature of an audit report
demands fin...
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT
AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
Introduction
In the real estate sector, Joint Development Agreements
(JDAs) are a common arrangement betw...
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)]
Exemption
of Income of any University or other Educational Institution Substantially
Financed by Government [Section 10(23C)(iiiab)] The provisions of section 10(23C)(iiiab) grant exemption
of income earned by an...
Estimate of value of assets by Valuation Officer [Section 142A]
Estimate of value of assets by Valuation Officer [Section
142A]Section 142A of the Income Tax Act, 1961 was initially
inserted by the Finance (No. 2) Act, 2004, with retrospective effect from
15.11.1972. It was amende...