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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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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 new framework eliminates mandatory renewals and replaces them with continuous monitoring. Donor eligibility now depends on sustained compliance and proper fund utilisation.
The new law replaces time-bound approvals with continuous compliance monitoring for charitable entities. Registration now survives only if organisations consistently meet prescribed conditions.
The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verification and compliance mechanisms to prevent revenue loss.
The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stress strict compliance and genuine ownership proof to avoid adverse action.
The issue involved treating cash deposits as unexplained despite being part of recorded sales. The Tribunal held that taxing the same income again results in impermissible double taxation.
The issue concerns mandatory reporting of specified financial transactions under tax law. The key takeaway is that entities must report high-value transactions within prescribed timelines or face penalties.
The framework requires taxpayers to withdraw all pending appeals and proceedings. It establishes that dispute resolution is conditional upon irrevocable withdrawal and waiver of rights.
The issue concerns applicability of tax audit based on turnover thresholds. The ruling highlights that exceeding prescribed limits mandates audit compliance under Section 44AB.
The provisions regulate acceptance, payment, and receipt of cash beyond specified limits. They impose strict penalties to discourage large cash transactions.
The issue concerns tax relief for foreign investors in infrastructure. The key takeaway is that specified funds can claim exemption on income if strict conditions are met.
