You may consider relying on the Supreme Court judgement in Mavilayi Service Co-operative Bank Ltd. v. CIT (2021) 431 ITR 1 (SC) where the Court emphasized a liberal, beneficial interpretation of Section 80P. It was held that the exemption for marketing agricultural produce grown by members under 80P(2)(a)(iii) covers cases where the society engages in… (read more)

Section 44ADA applies to persons engaged in specified professions listed under Section 44AA(1). The specified professions u/s 44AA(1) include legal, medical etc. The "legal" profession refers to the practice of law by qualified advocates/lawyers (enrolled with a Bar Council). Para-legal services by a student does not constitute carrying on the "legal profession". (read more)

You will have to submit the agreement dated 2011-12 which mentions the total consideration as ₹24 lakh. Also provide any other evidence (affidavit, bank statements showing source of cash if available, witness statements, etc.) to prove that the payment was genuinely made in 2011-12 and that the registered deed was only for the same agreed… (read more)

There is no statutory requirement under the Income Tax Act for prior approval from the Director of Exemptions (or any other authority) for the sale of immovable property by a charitable trust registered u/s 12A/12AB. However, if such a clause is there in the trust deed, the trustees are bound by it and will have… (read more)

If the land is being assessed to house tax, it implies it is not "agricultural" land and is not entitled to tax exemption. You may check the land records with the Panchayat for a definite answer whether the land is classified as agricultural or not. Income from dairy farming (sale of milk, etc.) is assessable… (read more)

Form No. 10-IF is for co-operative societies opting for the concessional tax regime under Section 115BAD. Form 10-IF must be filed on or before the due date for filing the return of income u/s 139(1) in the first year of exercising the option. The option is irrevocable once exercised. To apply for condonation of delay… (read more)

In my view, you can avail the remaining exemption limit (up to the balance of ₹25 lakh) for the part amount received in 2025. The exemption limit for leave encashment on retirement or otherwise which was increased from ₹3 lakh to ₹25 lakh via CBDT Notification No. 31/2023, effective from 1 April 2023 (FY 2023-24… (read more)

The issue whether under Entry 5B (inserted via Notification No. 5/2019-CT(R) w.e.f. 01.04.2019), payments made by a real estate developer the BMC/MCGM for various charges—such as Additional FSI Premium, Fungible FSI Charges, Development Charges, Scrutiny Fees, Staircase Premium, Open Space Deficiency Charges, and other statutory charges under DCR/DCPR attract GST under the RCM is not… (read more)

U/s 148A(d) of the Income-tax Act, the AO has to pass the order within one month from the end of the month in which your client's reply was received. As the reply was filed in April 2026, the AO has till 31st May 2026 to pass the order. (read more)

The judgement in Deepak Kumar vs. CPC, Bengaluru (ITAT Patna Bench at Kolkata) in I.T.A. No.: 55/PAT/2025, Assessment Year: 2017-18 holds that a clerical/inadvertent mistake in the original Form 3CD cannot lead to adjustments/additions under section 143(1) without proper opportunity to the assessee. It can be downloaded from the official website of the ITAT. Deepak… (read more)