News

Taxpayers can now file updated returns (ITR-U) for AY 2021-22 to 2024-25 using the newly released utilities for ITR-3 and ITR-4.

Income Tax Portal Update 2025: ITR-3 and ITR-4 Updated Returns Now Live

Tribunal rules S. 143(1)(a) adjustment invalid where CPC failed to issue mandatory intimation before restricting leave encashment exemption.

ITAT Quashes Rs 6 Lakh Leave Encashment Disallowance for Sec 143(1)(a) Intimation Lapse

Articles

Understanding the taxability of the EPF involves knowing the limits on contributions, interest, and withdrawals, with specific exceptions for excess amounts and early withdrawals.

Understanding Provident Fund: Taxability, Exemptions, and Key Considerations

Futures and Options give major profit, but they can also cause significant loss due to inaccurate predictions.

Tax Implications of Futures and Options Transactions Under Income Tax

IT Dept releases new Excel utility for filing ITR-6 for companies and ITR-5 for firms, along with key deadlines for Financial Year 2024-25.

Excel Utilities Now Available for ITR-5 and ITR-6; File ITR Before Sept 15

Judgement

ITAT held penalty under Section 271(1)(c) not leviable where revised return filed within time was accepted without additions.

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Income Tax Portal Update 2025: ITR-3 and ITR-4 Updated Returns Now Live

ITAT Quashes Rs 6 Lakh Leave Encashment Disallowance for Sec 143(1)(a) Intimation Lapse

Understanding Provident Fund: Taxability, Exemptions, and Key Considerations

Tax Implications of Futures and Options Transactions Under Income Tax

Excel Utilities Now Available for ITR-5 and ITR-6; File ITR Before Sept 15

ITAT Deletes Rs 28.53 Lakh Penalty for Voluntary Income Revision u/s 271(1)(c)