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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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...
The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during FY 2026-27. The guidelines cover survey, search, reassessment, tax-evasion, exemption, and recurring addition cases.
This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It highlights application of income, accumulation rules, anti-abuse provisions, and a detailed computation model for exempt and taxable income.
This guide explains how employees can claim relief when salary, pension, or other benefits are received in arrears or advance. It outlines the conditions, calculation method, and filing requirements under Section 89.
This guide explains how a Hindu Undivided Family is taxed based on its residential status and the status of its Karta. It highlights the scope of taxation for resident and non-resident HUFs under the Income-tax Act.
Section 194-IA requires buyers of immovable property to deduct TDS at 1% when the sale consideration or stamp duty value is ₹50 lakh or more. The guide explains deduction, deposit, reporting requirements, and consequences of non-compliance.
The document highlights that start-ups enjoying exemption must comply with prescribed restrictions on investments and asset acquisitions. Failure to meet these conditions can result in taxation of excess premium and penalty consequences.
The Income Tax Department has clarified that individuals and HUFs paying rent above ₹50,000 per month must deduct TDS under Section 194-IB. The guide explains deduction rates, compliance requirements, and filing procedures.
The guide outlines exemptions available to government departments, specified non-residents, and transactions in securities traded through recognized exchanges. These exclusions help define the scope of the provision.
The guide provides detailed rules for VDA transfers executed through exchanges, brokers, and payment gateways. It identifies who is responsible for deducting tax in different transaction structures and compliance scenarios.
The document explains that deduction under Section 194R is required even without examining whether the benefit is taxable in the recipient’s hands. The obligation arises solely from providing the benefit or perquisite.
