Income Tax

All Posts
GST
Tax Disputes
Case Law Analysis
Tax Planning
Taxpayer Education
Income Tax
Legal Framework
Income Tax Updates
Compliance Alerts
International Taxation
Reassessment Notices
Tax Strategies
Corporate Tax
Digital Currency
TDS
TCS
ITAT
DGFT
AAR
Ministry Corporate Affairs
MCA
Customs Duty
Import-Export
Covid-19 Relief
CBEC
Update
Tax Planning
Tax Compliance
Startup
Tax Holiday

The Gujarat High Court quashed reassessment proceedings initiated under Sections 148 and 148A where the assessee had fully disclosed a loan transaction and duly offered interest income to tax.The Court held that mere suspicion, third-party non-cooperation, or investigation inputs cannot justify reopening when material facts are already on record.

🚨 Reassessment Cannot Be Based on Suspicion Alone

What is disclosed and taxed cannot be treated as “income escaping assessment”.

Mayur Bhadani

Dec 26, 20253 min read

“We are a DPIIT-recognised startup. We have 100% tax holiday under Section 80-IAC. So income tax is NIL… right?”

Startup Tax Holiday under Section 80-IAC vs MAT & Advance Tax

Even when normal tax is NIL, MAT can still be payable.

Mayur Bhadani

Dec 15, 20253 min read

⚠️ CBDT Issues Strong Warning on Bogus Deductions – What Every Taxpayer Must Know (Dec 2025)

On 13th December 2025, the Central Board of Direct Taxes (CBDT) released an important Press Release that every taxpayer in India must read carefully.

Mayur Bhadani

Dec 13, 20253 min read

Tax documents and calculator on office desk

Understanding Income Tax In India – A Practical Guide For Taxpayers (updated 2025)

Mayur Bhadani

Dec 13, 20253 min read

Gujarat High Court Invalidates Time-Barred Section 148 Notice

Mayur Bhadani

Dec 12, 20252 min read

Vivek Industries vs ITO (ITAT Visakhapatnam)Capital Gains – Assessment in Hands of the “Right Person”

A partnership firm’s ownership and tax liability continue until it is legally dissolved. The sale of a firm’s property must be taxed in the firm’s hands, not in the hands of its partners, even if the business has been discontinued.

Mayur Bhadani

Dec 11, 20253 min read

Let’s look at some of the cash transactions that can attract an income tax notice.

#incometax #cash #newincometaxportal #update #notice

Mayur Bhadani

Aug 18, 20211 min read

Extension in period of modification of IEC till 31.08.2021 and waiver of fees for IEC updation.

#DGFT #IEC #Update #Incometax The Director-General of Foreign Trade (DGFT) has directed that all Import Export Code (IEC) holders are now...

Mayur Bhadani

Aug 10, 20211 min read

Guidelines issued in respect of Section 194Q of the Income Tax Act, 1961 by CBDT

#Incometax #Circular #Update #194Q #TDS #TCS CBDT issues Circular No.13 of 2021 dated 30th June, 2021 detailing guidelines under section...

Mayur Bhadani

Jul 1, 202110 min read

TDS on purchase of goods under Section 194Q

#Section194Q #TDS #Incometax #TCS #Section206C(1H) TDS on Purchase of Goods [Section 194Q] Section 194Q of the Income Tax Act is recently...

Mayur Bhadani

Jun 25, 20213 min read

CBDT grant relaxation in electronic filing of Form 15CA & 15CB

As the taxpayers faces continues technical glitches from the very first day at the new income tax portal www.incometax.gov.in it has been...

Mayur Bhadani

Jun 14, 20212 min read

રૂ.૧૦૦૦ ના દંડ થી બચવા તા.30 જૂન, ૨૦૨૧ પહેલા તમારા આધારકાર્ડ ને પાનકાર્ડ સાથે લીંક કરવું જરૂરી છે.

#PANCARD #AADHAARCARD #INCOMETAX #DUEDATE #LINK આધાર અને પાનકાર્ડને જોડવાની છેલ્લી તારીખ કેન્દ્ર સરકારે 31 માર્ચ, 2021 થી 30 જૂન, 2021...

Mayur Bhadani

Jun 13, 20212 min read

Whether crypto trading are legal in India? Here’s everything you need to know.

Crypto in India has been growing rapidly since last year as more investors try their luck in the crypto trading. There is no official...

Mayur Bhadani

Jun 12, 20214 min read

TDS rates applicable for resident of India

#TDS #194C #194H #Return #Duedate

Mayur Bhadani

Jun 10, 20211 min read

ULIP હવે થી પાકતી તારીખે કરપાત્ર થશે - નવી જોગવાઈ

ઘણા કરદાતાઓ હાલમાં મોટા પ્રમાણમાં ULIP જેવી ઇક્વિટી ઓરિએન્ટેડ વીમા બેનીફીટ યોજનામાં રોકાણ કરી રહ્યા છે. આ તમામ કરદાતાઓમાંથી કેટલાક...

Mayur Bhadani

Jun 9, 20212 min read

G7 have agreed a deal that will transform the landscape of global corporate tax.

Over the weekend, largely at the urging of Janet Yellen, the Treasury secretary, finance ministers from the Group of 7 — the major...

Mayur Bhadani

Jun 8, 20215 min read

Here are 5 cash transactions that can attract income tax notice

#CashTransactions #Cash #IncomeTax #Notice The Income Tax Department and various investment platforms like bank, mutual fund houses,...

Mayur Bhadani

May 12, 20212 min read