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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...
Ministry of Finance has released provisional figures of Direct Tax collections for the fiscal year 2023-24. The data reveals a consistent and significant growth trend in the collections up to 9th July, 2023.
ITAT Jaipur held that capital gain not computable in respect of sale deed executed in favour of daughter-in law as it is only a gift to close relative and not a sale.
ITAT Pune held that onus of proving the genuineness of transaction of receipt of donation not discharged. Accordingly, held that all cash donation transactions are sham, a make believe story, a device adopted created to sleeve undisclosed income through anonymous donations.
Bombay High Court held that as per clause (xiii) of section 144B(1), reply can be filed by the assessee on the date and time as specified or within the extended time. Accordingly, shutting down the window before completion of extended time limit is unjustified. Hence, assessment order liable to be quashed.
In present facts of the case, the ITAT observed that Guess work or estimation or extrapolation of income is not permissible unless there are strong evidences to suggest otherwise. The additions are to be based solely on tangible material and not on the basis of estimations or extrapolation theory
ITAT Chennai held that there is no obligation to deduct tax at source u/s 195 of the Income Tax Act as payment made to sister concern in USA is purely reimbursement of expense and does not involve any element of income.
Learn about the taxation of virtual digital assets (VDAs) and the set-off of losses on the sale of one VDA against the profit on the sale of another VDA. Explore the provisions under section 115BBH, the confusion surrounding set-off rules, and the implications for Bitcoin transactions. Gain insights into the classification of VDAs, the treatment of NFTs, and key considerations for taxation.
Learn the method to calculate the Net Annual Value (NAV) of a house property for income tax purposes. Understand the steps to compute the Gross Annual Value (GAV), deductions for rental income, and major points to consider when dealing with let-out house properties.
Discover the debate surrounding cash payments exceeding Rs. 10,000 to electricity boards in Income Tax. Learn about Rule 6DD, government entities, and relevant case laws to understand the disallowance implications.
Read this critical analysis of the new reassessment provisions introduced by the Finance Act, 2021. Understand the changes in Section 148, 148A, and 149 of the Income Tax Act and their impact on taxpayers. Find an in-depth analysis, interpretations, and a conclusive assessment of the validity of reassessment proceedings.
