Judgement

AO had disallowed the ESOP expenses by holding it to be capital in nature and not allowable u/s 37(1) of the Act.

ITAT allows ESOP expenses u/s 37(1) of Income Tax

Google US has received a favourable ruling from the Bengaluru bench of ITAT, in which it was compensated for employee costs by Google India.

Seconded employees does not come within ‘FTS’ or ‘FIS’: ITAT

ITAT has ruled that both a husband and wife would be considered to own an equal portion of a residential property if a registered sale document did not identify their respective ownership interests.

ITAT Delhi cites equal Ownership when sale deed does not specify extent of holding

Articles

In a written reply to a question in the Lok Sabha stated that "Total number of Income tax Returns (ITRs) filed by individuals (between age of 18 to 35 years) during FY 2022-23 till 31st January 2023: 2,09,06,829."

20906829 ITRs filed by individuals (between age of 18 to 35 years) during FY 2022-23

News

The Income Tax Department has recently published the PAN-Aadhar linking status of individuals after issuing multiple warnings to the taxpayers.

IT Dept. releases PAN-Aadhar Linking Status; Know How to Check Status

Notifications

IT Dept issued Instructions on dissemination of High-Risk transaction and High-Risk Non-PAN Transaction cases on Verification module of Insight portal

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ITAT allows ESOP expenses u/s 37(1) of Income Tax

Seconded employees does not come within ‘FTS’ or ‘FIS’: ITAT

ITAT Delhi cites equal Ownership when sale deed does not specify extent of holding

20906829 ITRs filed by individuals (between age of 18 to 35 years) during FY 2022-23

IT Dept. releases PAN-Aadhar Linking Status; Know How to Check Status

IT Dept issued Instructions on High-Risk and Non-PAN Transactions