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Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
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 : 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 : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...
Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...
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 Ministry of Finance has issued Notification No. 52/2023-Income Tax, Dated : 20th July, 2023 under section 10(34B) of the Income Tax Act, 1961. The notification provides an income tax exemption for dividends from aircraft leasing within International Financial Services Centres (IFSC). The notification specifies that no income tax deduction shall be made from any dividend income paid by […]
Explore the ITAT Chennai ruling in the V.K. Sasikala vs DCIT case, where the importance of tangible new material in reassessment proceedings has been underscored. Learn how the tribunal’s decision impacts the treatment of reassessment cases in Indian Tax Law.
ITAT Delhi held that huge amount as interest free advances given to company which is neither relative/ partner nor connected with Assessee based on MOU which is neither on stamp paper nor stamped or registered creates a reasonable doubt. Matter remanded for further inquiry.
ITAT Delhi held that addition towards unsecured loan under section 68 of the Income Tax Act sustained as assessee failed to discharge the primary onus and burden of proof of providing genuineness, creditworthiness and identity of creditors to the satisfaction of the A.O.
ITAT Mumbai held that addition u/s 68 of the Income Tax Act towards share application money unsustainable since they are not based on any incriminating material found during the course of search.
Key takeaways from the Pawanveer Singh vs ITO case: ITAT Delhi calls for fresh adjudication concerning the income tax on a settlement sum received from a mother-in-law.
Get answers to 41 frequently asked questions about the POEM (Place of Effective Management) concept for companies located outside India but controlled from India. Understand the implications, criteria, and international perspectives on POEM.
The ITAT Delhi nullifies the penalty imposed under Section 271(1)(c) of the Income Tax Act on Meena Singhal, as the notice issued did not specify the particular charge.
Discover why cash payments should be avoided for personal and business transactions. Learn about the deductions affected and the potential consequences of using cash. Stay compliant with tax regulations.
Explore the intricacies of tax audit and the interlink between sections 44AB, 44AD, and 44ADA of the Income Tax Act for the Assessment Year 2023-24. Understand the applicability conditions, thresholds, and amendments that impact businesses and professionals. A comprehensive flowchart is provided to help assess the necessity of a tax audit. Stay informed for informed financial decisions.
