Oil wells are plant and machinery and eligible for higher depreciation
The ITAT, Ahmedabad in the case of M/s. Joshi Technologies International Inc. v. The Asst. Director of Income Tax [ITA […]
Important Pronouncements, Income Tax
Income Tax
Important News, Income Tax
Income Tax Department released Excel based utility for ITR-5
The Income Tax Department enabled the Excel based utility for ITR-5 on the e-filing portal. ITR-5: Utility Excel Based Source
Income Tax, News
Average time taken for issuing I-T refunds reduced to 16 days in 2022-23: CBDT chairman
Average time taken for issuing refunds by the income tax department has been brought down “significantly” and 80 per cent of refunds
Important News, Income Tax
Due to scheduled maintenance activities, E-filing site and associated services will not be available on these dates
The Income Tax Department stated that, due to scheduled upgrade activities, Income-tax e-filing website and associated services will not be
Income Tax, News
Income Tax department sends notices to Jio, Tata Communications on interconnection usage charges
The income tax (I-T) department has sent notices to Reliance Jio Infocomm and Tata Communications on interconnection usage charges (IUC),
Income Tax, News
Delhi HC stays tax proceedings against Centre for Policy Research
The Delhi High Court recently stayed income tax proceedings against public policy think tank Centre for Policy Research (CPR) after
Income Tax, News
9 Years of Narendra Modi’s Government: Major Changes In Income Tax Rules
The Narendra Modi-led NDA has served in office for nine years. After Jawaharlal Nehru, Indira Gandhi, and Manmohan Singh, Modi
Important News, Income Tax
Income Tax Dept. enabled the ITR-2 at e-filing portal in Online mode with prefilled data
The Income Tax Department has enabled the Income-tax Returns Form ITR 2 at the income tax e-filing portal in Online
Important Pronouncements, Income Tax, Income Tax Case Law
Directed the AO to allow cross examination of witness by the assessee
The Hon’ble Jharkhand High Court in Madhu Korah v. Income Tax Department through Director General [W.P (T) No. 538 of
Income Tax, Press Release, Press Release
Increased limit for tax exemption on leave encashment for non-government salaried employees notified
The tax exemption on leave encashment of non-government salaried employees (in respect of the period of earned leave at his