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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
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 : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Cochin rules Envestnet Asset Management’s assessment order time-barred, emphasizing mandatory timelines and proper record-keeping by tax authorities.
Bombay High Court rules Rediff.Com can deduct expenses for abandoned capital work-in-progress, affirming ITAT’s decision based on revenue expenditure classification.
ITAT Mumbai remands Gabriel India’s tax appeal over Rs. 72 lakh capital work-in-progress dispute. CIT(A) ordered to admit new evidence.
Understand the Annual Information Statement (AIS) on the Income Tax website, a comprehensive record of your financial transactions, and learn how to review it for accurate ITR filing.
Learn how AIS and Form 26AS mismatches can lead to tax notices, scrutiny, and penalties. Understand common errors and ways to avoid income tax complications.
Understand Section 79 of the Income Tax Act, 1961, concerning loss set-off in closely held companies. Explore judicial interpretations of “beneficial ownership” and its implications for corporate restructurings.
Learn about Section 60-64 of the Indian Income Tax Act regarding income clubbing, which prevents tax evasion through asset transfers. Discover legal strategies to avoid unexpected tax liabilities.
A comprehensive guide to filing ITR 4 (Sugam) for FY 2024-25, covering applicability, new tax regime’s impact, required documents, and step-by-step online filing instructions.
Learn about the new 12.5% capital gains tax rate on Land/Building (LBB) transfers from July 23, 2024, and the CBDT’s proviso protecting assessees from higher tax.
ITAT Raipur deletes additions for bogus purchases and short yield in P.D. Rice Udyog case, citing lower purchase rates and incorrect yield calculation.
