Search Results for Tag : Deductions
News
ITAT: Drawings Made for Non-Business Purposes are Not Allowable as Income Tax Deduction(13.06.2022)
Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench has held that drawings made for non-business purposes are not allowable as a deduction under.....
Tags : ITAT, Deductions, Income-Tax
#Union Budget 2021-2022: Late Deposit of Contributions Not Allowed as Deductions to Employers(01.02.2021)
Finance Minister has reiterated that late deposit of contributions will not be allowed as deductions to employers, taking notice that some employers d.....
Tags : Finance Minister, Union Budget, Provident Fund Deductions
ITAT: Employers Must Deposit Contribution Towards EPF/ESI on Time to Avail IT Deduction(18.03.2023)
Income Tax Appellate Tribunal (ITAT), Delhi bench has held that employers have to deposit employees' contributions towards EPF/ESI on time to avail of.....
Tags : ITAT, EPF/ESI, Income Tax Deductions, EPF/ESI
Del HC Upholds Provision Allowing Deduction for Payment of Maintenance to Air Force Personnel's Wife(09.01.2023)
Delhi High Court has upheld the constitutional validity of Section 92(i) of Air Force Act, 1950 which allows deduction from pay and allowance of Air F.....
Tags : Delhi High Court, Air Force Act, Maintenance, Deductions
SC: Employee can’t be Denied Pension Citing Wrongful Deductions Made Towards CPF Scheme(11.05.2023)
Supreme Court has held that merely because there were some wrong deductions from salary and aggrieved was treated as member of the CPF Scheme, the sam.....
Tags : Supreme Court, Pension, CPF Scheme, Deductions
ITAT: Expenses Paid Through Cheques Based on Self-Made Voucher Allowable as Income Tax Deduction(10.06.2022)
Income Tax Appellate Tribunal (ITAT), Pune bench has allowed the expenses paid through cheques based on the self-made voucher allowable as deduction u.....
Tags : ITAT, Deductions, Cheque
CBDT Notifies Scrapping of Certain Forms for Income Tax Deductions(05.04.2021)
Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III under the Income Tax Act, 1961 ceased to be effective o.....
Tags : Central Board of Direct Taxes, Forms for Income Tax Deductions
Judgments
Motor Vehicles Act is social welfare legislation and if there is conflict between social welfare legislation and tax legislation, social welfare legislation will prevail(15.11.2016)
Petitioner-New India Assurance Company Limited filed instant petition challenging order passed by learned member of Maharashtra Accident Claims Tribu.....
Tags : TDS, Deductions, Limit
For claiming deduction under Section 80P of IT Act, return of income has to be filed within due date specified under Section 139(1) of Act(15.03.2024)
The assessee is a co-operative credit society, registered under the Karnataka Co-operative Societies Act, 1959. For the assessment year 2018-2019, the.....
Tags : Assessment, Deductions, Denial