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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
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 : 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 Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
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 ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
Understand critical tax deadlines by May 31, 2025, for TDS and SFT reporting. Learn about compliance requirements, applicable forms, and penalties for non-compliance.
These legal decisions, known as case laws, act as crucial guides. They clarify tricky parts of the law, prevent arbitrary actions by tax officials, and often set precedents that help millions of taxpayers. Let’s explore some key areas where courts have consistently ruled in favor of the assessee, offering a beacon of hope and clarity.
Understand tax implications for NRIs selling Indian property, including capital gains, revised rates, TDS impact on cash flow, and the process for repatriating sale proceeds.
Explore India’s 2024 Union Budget changes to LTCG tax on immovable property, including indexation removal, revised tax rates, and the grandfathering provision.
Karnataka High Court held that assumption of jurisdiction under section 147 of the Income Tax Act untenable since mandatory requirement of section 149(1)(b) of the Income Tax Act not complied. Accordingly, writ petition allowed and notice u/s. 148 quashed.
ITAT Jaipur held that disallowance u/s. 40(a)(i) of the Income Tax Act untenable since amount of commission paid to a non resident outside India for the services rendered outside India will not fall in the category of income, and as such would not be chargeable to tax.
Bombay High Court held that reopening of the assessment would be permissible without there being any new or additional material available to the Assessing Office. Accordingly, reassessment notice is set aside and writ petition is allowed.
CBDT has introduced a few modifications with the new ITR forms for AY 2025‑26 which are summarised in a presentation form which are summarised in presentation form which may be helpful along with the changes in tax law provisions and TDS.
Understand AIS and TIS on the Income Tax portal. Learn why these detailed financial statements are crucial for accurate ITR filing and avoiding discrepancies.
ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond a period of 4 years without failure on the part of the assessee to disclose fully & truly all the material facts is liable to be annulled.
