Compliance Calendar for ‘December’2025
Compliance Calendar for ‘December’2025 INCOME TAX ▪ 07th December 2025- Due date for deposit of Tax deducted and collected for the month of November 2025. ▪ 10th December 2025- *Due date for filling Income Tax Return of AY 2025-26 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or… […]
Should the AO Issue a Fresh Notice Under Section 148 After a CIT(A) Set-Aside? A Complete Guide for Tax Professionals
Should the AO Issue a Fresh Notice Under Section 148 After a CIT(A) Set-Aside? A Complete Guide for Tax Professionals When the Commissioner of Income-tax (Appeals) [CIT(A)] sets aside an assessment and restores the matter to the Assessing Officer (AO) for a fresh assessment, a common question arises: Should the AO start the proceeding again… […]
Form 71: The Ultimate Solution to TDS Mismatch & Missing TDS Credit
Form 71: The Ultimate Solution to TDS Mismatch & Missing TDS Credit If you have ever faced the frustration of missing TDS credits in your Form 26AS or AIS, you’re not alone. Every year, lakhs of taxpayers discover that despite tax being deducted from their income, the credit does not appear in the correct… […]
Online Gaming Taxation in India: Complete Guide to TDS on Net Winnings Under Section 194BA, Rule 133 and CBDT Circular 5/2023
Online Gaming Taxation in India: Complete Guide to TDS on Net Winnings Under Section 194BA, Rule 133 and CBDT Circular 5/2023 The online gaming industry has become one of India’s fastest-growing digital economies, but with its growth came significant tax challenges. To bring clarity and plug long-standing loopholes, the government introduced an entirely new… […]
Condonation of Delay for Section 80P Deduction: The Complete Guide (With CBDT Instruction 9/2015 Explained)
Condonation of Delay for Section 80P Deduction: The Complete Guide (With CBDT Instruction 9/2015 Explained) If you are searching “Who can condone delay for Section 80P?”, “Can CIT condone delay for 80P?”, “Section 119(2)(b) 80P condonation”, or “80P deduction denied due to late filing — what to do?”, this is the most complete and authoritative guide online. This article… […]
Why Online Gaming Income Now Faces Strict TDS Rules-and How to Stay Compliant
Why Online Gaming Income Now Faces Strict TDS Rules-and How to Stay Compliant If you thought online gaming was only about fun and luck, the taxman has quietly joined the game & tracked your gaming wallet more closely than most people track their bank accounts. With Section 194BA and Rule 133 now fully operational,… […]
Delhi High Court to examine constitutional validity of Section 2(24)(x) r.w.s. 36((1)(va) denying deduction on late deposit of PF/ESI
Delhi High Court to examine constitutional validity of Section 2(24)(x) r.w.s. 36((1)(va) denying deduction on late deposit of PF/ESI In the writ petition filed before the Delhi High Court, these provisions have been challenged contending inter-alia, 1. That provisions are violative of Article 14 in as much as there is manifest arbitrariness whereby by… […]
Joint ownership of more than one house does not automatically defeat Sec 54F exemption: ITAT Delhi
Joint ownership of more than one house does not automatically defeat Sec 54F exemption: ITAT Delhi Kusum Sahgal v. ACIT, ITAT Delhi, ITA No. 341/Del/2025 Facts: 1. The assessee, Ms. Kusum Sahgal, held 24.59% shares in Quality Needles Pvt. Ltd. During A.Y. 2016-17, she sold 21,50,000 shares of the company and earned long-term capital… […]
HUF Gift to Member – Why It Should Be Treated as Exempt Under Section 10(2) of the IT Act?
HUF Gift to Member – Why It Should Be Treated as Exempt Under Section 10(2) of the IT Act? Core Legal Position Section 10(2) exemption 1. Any sum received by an individual as a member of a Hindu Undivided Family is exempt if such amount is paid out of the income of the HUF… […]
Assessee not required to prove “source of the source” of funds prior to Finance Act 2022
Assessee not required to prove “source of the source” of funds prior to Finance Act 2022 PCIT-4 DELHI vs. KRBL INFRASTRUCTURE LTD (ITA 494/2024) Facts: 1. The assessment of the respondent assessee had been completed by the AO making addition on account of a bogus unsecured loan and a disallowance of interest paid on… […]
