ITAT Ahmedabad allows Section 11 exemption and quashes late filing fee for Shiksha Foundation, citing timely audit and ...

After you file your Income Tax Return (ITR), the Income Tax Department runs a preliminary check to verify your submission. Based on this review, it sends you an automated notice under Section 143 ...

Understand the importance of correct formats for Section 143(2) scrutiny notices. Learn how non-compliance impacts tax assessments, referencing CBDT guidelines and recent tribunal ...

The Bombay High Court stated that the assessee cannot be penalised under Section 271(1) (c) of income tax act for merely ...

Tax experts say revising your ITR is allowed, but frequent or significant changes may raise red flags with the department's ...

The Income Tax Appellate Tribunal Chennai stated that transferor not liable under Section 56(2) Of Income Tax Act for ...

"The meeting will centre on persistent issues such as delayed income tax refunds, pendency of appeals, and grievances that ...

The FICA tax (short for Federal Insurance Contributions Act) is a deduction from your paycheck that's used to pay for Social Security and Medicare. The 2024 FICA tax rate means 7.65% comes out of your ...

Besides, about 1200 Provisos and 900 Explanations have been removed. 2. Income tax Act, 1961 consists of 819 sections. During the course of numerous amendments to the Income tax Act, 1961, several ...

The American Civil War incurred a massive amount of debt. To help pay for it, Congress passed the Revenue Act of 1861, and tax was levied on incomes exceeding $800 and was not rescinded until 1872.

Important facts to keep in mind: Section 143(1) is a simple communication issued after processing of ITR is completed. Common triggers include TDS mismatches, mistakes in deductions, or missed income.