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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...
Kerala HC dismisses writ petition challenging income tax assessment over disputed notice service. Court rules issue is a disputed fact not for writ. Directs taxpayer to file statutory appeal, granting one month.
Karnataka State Chartered Accountants Association raises concern over delayed release of ITR forms for AY 2025-26, pressing CBDT for immediate action.
ITR Forms 1 & 4 for AY 2025-26 are notified with changes including LTCG reporting, presumptive taxation limits, and additional disclosure requirements.
Free zone businesses in the UAE face tax rules often misunderstood. Learn 11 key myths vs facts to stay compliant under UAE’s new corporate tax law.
ACIT Vs Dalmia Cement (Bharat) Limited (Madras High Court) Re-Assessments Possible even after concluded assessment u/s 153A: Madras High Court’s Landmark Ruling in ACIT v. Dalmia Bharat Ltd. Overview: This is a significant tax law case concerning the reopening of income tax assessments beyond the normal limitation period of four years. The Division Bench of the […]
Madras High Court condones appeal delay in Gopuram case, citing legal uncertainty over Sec 234E applicability for AYs prior to June 2015.
Madras High Court dismisses Jose Charles Martin’s plea against income tax assessment centralisation, relying on precedents upholding transfers for group entities with seized documents.
In Financial Year (FY) 2024–25, a change in the applicable TDS rate on rent under Section 194-IB has created confusion among many tenants and property managers. Specifically, if rent payments after October 1, 2024, are subject to a reduced TDS rate of 2% instead of 5%, but you mistakenly deducted or deposited tax at the […]
ITAT Delhi rules commission to Amway distributors is not part of AMP expenses for transfer pricing adjustment. Deduction u/s 80G allowed.
CBDT revises ITR Forms 1 & 4 for AY 2025-26, expanding eligibility criteria, adding disclosure requirements and simplifying compliance for salaried and business taxpayers.
