Articles

Taxpayers with income from capital gains may not get the Section 87A rebate, even if their total income is below the exemption limit. Know complete information below.

Section 87A Rebate: No Relief on Capital Gains Despite Income Below Threshold

Judgement

Court holds that profits for Section 32AB must be as per audited P&L under Schedule VI; additional cane price fixed post-closing cannot reduce eligible deduction

HC Rules Section 32AB Deduction Must Be Computed on Companies Act, Profits Excludes Later Sugarcane Price Adjustment

The Income Tax Department allows taxpayers to file ITR-U or an updated Income Tax Return to correct their mistakes and update their ITR.

ITR Filing 2025: Updated Return for AY 2021-22 to AY 2024-25 Now Live on E-Filing Portal

Since the notice issued under section 148 was issued during the extended period from 01.04.2021 to 30.06.2021 under TOLA, the Court quashed the same, calling it invalid.

Gujarat HC Quashes AY 2015-16 Reassessment Notice: Confirms SC's Stand that All Such Notices Post 01.04.2021 Are Invalid

HC quashes reassessment notice for AY 2015-16, ruling that TOLA extensions cannot revive time-barred cases under the new Section 148A regime.

Gujarat HC Quashes Reassessment Notice for AY 2015-16: TOLA Extension Cannot Save Time-Barred 148 Notices

Form 3CD via Income tax Eighth- Amendment Rules, 2025 undergoes key changes including deleted clauses, new disclosures, and enhanced compliance and more.

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Section 87A Rebate: No Relief on Capital Gains Despite Income Below Threshold

HC Rules Section 32AB Deduction Must Be Computed on Companies Act, Profits Excludes Later Sugarcane Price Adjustment

ITR Filing 2025: Updated Return for AY 2021-22 to AY 2024-25 Now Live on E-Filing Portal

Gujarat HC Quashes AY 2015-16 Reassessment Notice: Confirms SC's Stand that All Such Notices Post 01.04.2021 Are Invalid

Gujarat HC Quashes Reassessment Notice for AY 2015-16: TOLA Extension Cannot Save Time-Barred 148 Notices

Latest Amendments in Form 3CD: Practical Insights for FY 2024-25 Audits