Income Tax: Made a mistake while filing your ITR? You can still file an updated return

If you happend to commit a mistake in filing your income tax return (ITR), you can still file an updated return ...
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Income Tax Portal Set for Major Upgrade: Taxpayers to Track ITR Status in Real Time

If you regularly file your Income Tax Return (ITR), there’s some great news coming your way. The Income Tax Department has ...
Tax Guru

Addition for Unexplained Investment Without Adequate Inquiry not justified: ITAT Jabalpur

ITAT Jabalpur held that additions for unexplained investment in agricultural land cannot be made without proper inquiry into the co-owner’s source of funds. The case has been restored for de novo ...
Tax Guru

Exemption Under Sections 11 & 12 Cannot Be Denied for Procedural Delay in Form 10B: ITAT Hyderabad

ITAT holds that filing audit report late due to Covid-19 is a procedural lapse, not a ground to deny exemption, following Telangana and Gujarat High Court ...