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Income Tax : Learn the taxability of freelance income, deductions, Section 44ADA, advance tax, book-keeping and ITR compliance under the Income...
Income Tax : CBDT has enabled display of foreign financial information in AIS under the AEOI framework, supporting reconciliation while existin...
Income Tax : The article explains seven common ITR filing mistakes, including AIS mismatches, TDS errors and wrong ITR forms, and highlights re...
Income Tax : Explains Form 12B disclosure, TDS computation, salary reporting, advance tax and ITR precautions for employees receiving salary fr...
Income Tax : CBDT has notified revised ITR-2 for AY 2026-27 with changes to capital gains, buy-back reporting, disclosures, due dates and filin...
Income Tax : ITAT Bangalore held Section 2(47)(v) inapplicable as the JDA did not satisfy Section 53A conditions, deleting capital gains for AY...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : Patna HC set aside the Section 158BC assessment, holding that failure to issue a mandatory Section 143(2) notice was not curable u...
Income Tax : ITAT Hyderabad upheld the excess cash addition and Section 153D approval, while remanding the stock shortage addition for fresh ex...
Income Tax : ITAT Hyderabad deleted a Section 69 addition after finding the mother's identity, funds and gift confirmation established the sour...
Income Tax : Chennai ITAT deleted the Section 271D penalty, holding temporary cash received to demonstrate visa funds was not a loan attracting...
Income Tax : Chennai ITAT upheld deletion of a Section 69A addition, holding that cash withdrawals from the assessee's own bank account could n...
Income Tax : CBDT Notification No. 81/2026 specifies Maharashtra's Principal Secretary for income-tax information sharing under Section 258 for...
Income Tax : CBDT Notification No. 80/2026 exempts specified payments to eligible IFSC Units from TDS, subject to conditions and Form No. 1(N)....
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Patna HC set aside the Section 158BC assessment, holding that failure to issue a mandatory Section 143(2) notice was not curable under Section 292BB.
ITAT Hyderabad upheld the excess cash addition and Section 153D approval, while remanding the stock shortage addition for fresh examination.
ITAT Hyderabad deleted a Section 69 addition after finding the mother’s identity, funds and gift confirmation established the source of the amount.
Chennai ITAT deleted the Section 271D penalty, holding temporary cash received to demonstrate visa funds was not a loan attracting Section 269SS.
Chennai ITAT upheld deletion of a Section 69A addition, holding that cash withdrawals from the assessee’s own bank account could not be treated as unexplained money.
Learn the taxability of freelance income, deductions, Section 44ADA, advance tax, book-keeping and ITR compliance under the Income-tax Act, 1961.
ITAT Pune upheld deletion of ₹1.14 crore Section 69C addition as it was based only on third-party statements without corroborative evidence or cross-examination.
ITAT Mumbai held delayed filing of Form 67 is not a ground to deny Foreign Tax Credit under Section 90 where foreign income and taxes paid are undisputed.
Gains arising from sale of strategic investments, promoter holdings, unlisted shares and similar long-term capital assets held by a banking company were assessable under the head Capital Gains and not as business income, where the investments were not held as stock-in-trade or for trading purposes.
Transfer of electricity from eligible captive power units to non-eligible units was to be valued at the tariff charged by State Electricity Distribution Companies to industrial consumers and not at IEX trading rates.
