5 Essential Points About Section 124(5) of the Income Tax Act: Assessing Officer’s Powers and Jurisdiction

When it comes to income tax assessments in India, understanding the jurisdiction and authority of an Assessing Officer (AO) is crucial for taxpayers and tax professionals alike. Section 124 of…

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4 Key Points to Understand When Challenging Assessing Officer’s Jurisdiction Under Section 124(4) of the Income Tax Act

Navigating the complexities of the Income Tax Act is crucial, especially when it comes to understanding the jurisdiction of an Assessing Officer (AO). Section 124(4) provides taxpayers (or "assessees") with…

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Understanding Section 124(3) of the Income Tax Act: Limits on Challenging Assessing Officer Jurisdiction

Introduction In the Income Tax Act, Section 124 governs the jurisdiction of Assessing Officers (AOs). Specifically, Section 124(3) lays down conditions under which a taxpayer can challenge the AO's jurisdiction.…

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Understanding Section 115TF of the Income Tax Act: When a Specified Person is Deemed an Assessee in Default

The Income Tax Act contains various provisions that govern the taxation of charitable institutions, particularly when they cease to exist or convert into non-charitable entities. One such important provision is…

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Understanding Section 73A of the Income Tax Act: A Guide to Carry Forward and Set Off of Losses by Specified Business

When it comes to tax planning, especially for businesses involved in specified activities, understanding the provisions of the Income Tax Act is crucial. One such provision is Section 73A, which…

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