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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...
This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professionals understand practical implications and adapt to the updated tax regime.
The issue relates to restrictions on adjusting losses against specific incomes. The rules clearly prohibit set-off against gambling income, unexplained income, and virtual digital assets.
The law mandates obtaining, quoting, and linking PAN and Aadhaar for tax filings and financial transactions. Non-compliance leads to penalties, higher TDS/TCS, and inoperative PAN consequences.
Income transferred without transferring the underlying asset remains taxable in the hands of the transferor. The provisions ensure that tax liability cannot be avoided through indirect income transfers.
Explains salary taxation under Income-tax Act 2025 from April 2026, covering sections, perquisites, deductions, TDS changes and new forms.
The Tribunal addressed denial of leave encashment exemption restricted to ₹3 lakh. It held that the revised CBDT limit of ₹25 lakh applies, allowing full exemption within the threshold.
The Court directed the jurisdictional authority to consider the delay condonation request after PAN transfer. It held that the application must be decided in accordance with law.
The case examined whether disallowance under section 94(7) should be limited to exempt dividend. The Tribunal held that the provision applies to the full dividend received, rejecting the assessee’s claim.
The case examined whether settlement of a corporate guarantee liability qualifies as business expenditure. The Tribunal held that the guarantee was given for business purposes and the resulting payment was allowable.
Income not falling under primary heads is taxed under Income from Other Sources. The provision ensures comprehensive taxation and prevents income escaping the tax net.
