The provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...

New deductions will lower the tax bills for many Americans. Those who prefer to pay less in taxes throughout the year may ...

Since the CIT(E) had already accepted the assessed income by issuing Form 4 under the DTVSV Scheme, initiating revision later was held impermissible. Key takeaway: once settled under DTVSV, the ...

In order to pay your employees correctly each pay period, you need to know how to calculate gross and net pay. Learn how to ...

IRS relaxes ‘no tax on tips law’ so more workers can take advantage. Here’s who will benefit - Treasure Department’s tax ...

ITAT held that post-29.03.2022, notices must be issued faceless; issuance by JAO violated law, invalidating the reopening and ...

The Tribunal held that the CIT(A) erred by dismissing the penalty appeal solely due to VSVS settlement of interest, without adjudicating the depreciation-related penalty. Key takeaway: all grounds ...

The Tribunal directed AO to compute Section 14A disallowance only for investments generating exempt income, following Rule 8D. The decision reinforces the need for precise calculation of disallowances ...

ITAT Ahmedabad held that speculative intraday trades are genuine and not accommodation entries. Additions under Section 68 totaling ₹1.25 crore and ₹1.53 lakh were deleted due to lack of foundational ...

The AO changed the charge from bogus payments to 69A ‘Unaccounted Sales’ without issuing a fresh notice, denying the assessee a proper hearing. ITAT remanded the matter for verification of documentary ...

Tribunal held that civil, plumbing and electrical charges paid to builder formed part of the acquisition cost and allowed claim. It held that embedded fixtures qualify for deduction, while travel ...

Here are nearly 30 organizations in the Louisville area that need help to support those in need this holiday season.