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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
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 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 Tribunal examined whether an incorrect statement of financial transactions filed by a bank could lead to reassessment and addi...
Income Tax : The Revenue sought to tax software distribution income as royalty despite judicial precedents to the contrary. The Tribunal dismis...
Income Tax : The Revenue disallowed loan repayments alleging double deduction of charitable expenditure. The Tribunal ruled that documentary ev...
Income Tax : The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exe...
Income Tax : The issue was whether SBN deposits accepted by a co-operative society during demonetisation could be added under Section 68 solely...
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...
Understand Income Tax India’s recent communication on transactions. Learn importance of feedback, deadlines, and steps to ensure compliance. A comprehensive guide for taxpayers.
Explore investment planning for senior citizens, covering tax slabs, deductions, and the Senior Citizens Savings Scheme (SCSS). Understand where, how much, and when to invest. Learn about interest rates, withdrawals, and tax implications for a secure financial future.
Explore frequently asked questions about the Insolvency and Bankruptcy Board of India (IBBI) Valuation Examinations effective from July 1, 2022. Learn about eligibility, registration, exam structure, and more.
Madras High Court, in the case of Annamalai Bus Transports P Ltd. vs PCIT, has directed the CIT (Appeals) to expedite the appeal filed by the assessee within 60 days. The court noted procedural irregularities and the violation of principles of natural justice in the penalty proceedings, emphasizing the absence of cash transactions.
Madras High Court, in the case of Anamallais Bus Transports P Ltd vs. PCIT, has prima facie set aside penalty proceedings under Section 271-E of the Income Tax Act. This article explores the court’s view, emphasizing no cash transactions and directing the Appellate Authority to review the appeal without pre-deposit.
Learn step-by-step process of filing Income Tax Return Form 5 (ITR 5) in India. Understand eligibility criteria, required documents, and online submission procedure for individuals, HUFs, and non-LLP companies.
ITAT Indore held that addition u/s. 68 on account of bogus long term capital gains unsustainable as the alleged transaction is not found recorded in the books of accounts including the Dmat account of the assessee. Hence, addition on the basis of assumption unsustainable.
Delhi High Court decision on ITA 719/2023: Upholding deduction of liquidated damages by UT Starcom Inc. based on evidence for delayed service to BSNL and MTNL
Delhi High Court rules in favor of Canara Bank Relief Welfare Society, allowing the filing of revised Form 10 during reassessment proceedings. Details here.
Delhi High Court judgment on PCIT vs GoDaddy: Assessee succeeds in quantum appeal, penalty deleted. Analysis of legal tenability and implications under Section 271(1)(c) of the Income-tax Act, 1961.
