Articles

Section 44AB of the Income Tax Act requires a tax audit for some types of taxpayers if their turnover or gross receipts cross a specified limit.

When Is Tax Audit Compulsory Under Section 44AB?

When Is Tax Audit Compulsory Under Section 44AB

Under the presumptive taxation scheme, the taxpayers can report their income as a percentage of their turnover.

Everything You Need to Know About Presumptive Taxation Scheme Under Section 44AD

News

Income Tax Bill 2025 (Updated Version) to be Presented in Lok Sabha Today with 10 Key Simplification-Focused Amendments Aimed at Reducing Legal Hassles and Enhancing Taxpayer Relief.

Income Tax Bill 2025 Updated Version Tabled Today, Know Key 10 Major Amendments Introduced

Judgement

As both judges gave different views and opinions, the matter was sent before the Chief Justice of India for constituting a larger Bench.

Supreme Court Judges give divergent views on Deadline for Tax Assessment Involving Foreign Companies

Tribunal remands appeals on additions u/s 69 and 69A to CIT(A) after condoning delay on medical grounds; imposes Rs. 2,500 cost in each appeal.

ITAT Sets Aside CIT(A) Orders in Unexplained Investment and Cash Deposit Cases, Imposes Costs

The IT Department has prosecuted two city-based software professionals in Hyderabad, allegedly for defrauding the tax system, even after awarding them a chance to correct their tax return through the ITR-U facility.

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When Is Tax Audit Compulsory Under Section 44AB

Everything You Need to Know About Presumptive Taxation Scheme Under Section 44AD

Income Tax Bill 2025 Updated Version Tabled Today, Know Key 10 Major Amendments Introduced

Supreme Court Judges give divergent views on Deadline for Tax Assessment Involving Foreign Companies

ITAT Sets Aside CIT(A) Orders in Unexplained Investment and Cash Deposit Cases, Imposes Costs

Fake Tax Deductions: IT Dept. Prosecutes Two Hyderabad Techies for Misusing Updated Tax Return (ITR-U) Facility