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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Rule 331 of the Draft Income-tax Rules 2026 sets approval conditions, documentation requirements, and mandatory investment timelines for public companies and mutual funds to ensure proper utilisation of capital.
Draft Income-tax Rules 2026 mandate formal approval procedures for gratuity funds and cap reserves for unexpired risks in insurance businesses to ensure regulatory oversight and accurate profit computation.
Draft Income-tax Rules 2026 introduce strict conditions on director eligibility, employer contributions, fund ownership, and winding-up procedures to safeguard employee benefit funds and ensure proper governance.
Rules 317–319 of the Draft Income-tax Rules, 2026 prescribe conditions for trustees, regulate investment of gratuity fund money, and establish nomination rules for employees.
Rules 312–316 of the Draft Income-tax Rules, 2026 require prior approval for fund restructuring, prescribe application and appeal procedures, and define key terms governing approved gratuity funds.
The tribunal held that exemption for a statutory housing authority depends on whether housing units were sold above cost. The case was remanded to examine if charges exceeded cost plus nominal mark-up.
The Court held that rejection of condonation for a 50-day delay in filing Form 10B was improper when genuine hardship was demonstrated. It directed authorities to treat the audit report as filed within time and process the return accordingly.
The Tribunal refused to condone an 840-day delay in filing an appeal where the assessee claimed the Chartered Accountant failed to inform about the assessment order. It held that a taxpayer must remain vigilant about proceedings and cannot shift full responsibility to the counsel.
The Tribunal held that a trust engaged in educational activities for the public cannot be labelled religious without supporting material. It directed the authority to reconsider both registration and 80G approval.
The Tribunal found that the taxpayer had filed Form 68 seeking immunity from penalty but the request was rejected without due process. It directed the Assessing Officer to re-examine the immunity claim in accordance with law.
