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Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
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 : 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 Telangana High Court held that Section 254(2) of the Income-tax Act is confined to rectifying mistakes apparent from the recor...
Income Tax : The Telangana High Court held that reassessment proceedings initiated under Sections 148A and 148 by the Jurisdictional Assessing ...
Income Tax : The Tribunal held that section 50 merely prescribes a special method for computing gains on depreciable assets and does not conver...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...
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 Bangalore rules that merely disallowing advances written off and interest claims does not warrant a penalty under Section 271(1)(c), reinforcing that an honest claim, even if rejected, is not an inaccurate particular of income.
ITAT Bangalore held that delay of more than 5 years in filing of an appeal before CIT(A) condoned as reason for delay found to be genuine. Accordingly, order of CIT(A) quashed and matter restored back to CIT(A).
ITAT Allahabad held that in the absence of any comparable cases, the past history of the assessee, which has been accepted in many assessments under section 143(3) of the Act, cannot be overlooked. Accordingly, directed to assess net profit @3.5% instead of 7%/5% of contractual receipts.
ITAT Ahmedabad held that merely because some parties didn’t respond to the notice of AO, entire expenditure cannot be held as non-genuine. Accordingly, deletion of addition by CIT(A) upheld.
Therefore, the amount distributed by it to the Petitioner would not qualify as exempt dividend income under Section 10(34) of the Act. This to our mind would be merely a “change of opinion”.
ITAT Ahmedabad held that exemption u/s. 54F and 54B of the Income Tax Act cannot be denied solely on the ground of non-adherence to strict time limits. Accordingly, the assessee is entitled to claim the deduction in respect of investments made beyond the prescribed time period.
Explore the differences between legal tax avoidance and illegal tax evasion in India. Understand common methods, legal provisions, and penalties for each under Indian tax laws.
Understand ESOPs, their accounting treatment, and tax implications for employees in India. Learn about perquisite taxation and capital gains on share sales.
India’s Income Tax Department initiates nationwide verification against bogus deduction and exemption claims, warning taxpayers of penalties and prosecution.
Key compliance requirements for foreign companies establishing Indian subsidiaries, covering resident directors, RBI filings, board meetings, tax implications, Permanent Establishment analysis, and transfer pricing.
