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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...
Learn about the latest judgement from ITAT Delhi, where it upheld the disallowance of belated employee contributions to EPF/ESIC in section 143(1) income tax proceedings.
ITAT Mumbai held that the TPO is not correct in arriving at the ALP as NIL on the ground that the need and benefit test is not satisfied by the assessee without giving any contrary findings with regard to the various documents including the TP study submitted by the assessee.
ITAT Mumbai held that penalty levied for late filing of Profession Tax Return is penal in nature accordingly is not allowable as business expenditure.
The Income Tax Department has issued a clarification regarding the PAN-Aadhaar linking process, addressing difficulties faced by PAN holders.
HC set aside the assessment order and held a proper opportunity must be given to the Assessee whenever a Show cause notice or an assessment order is issued and further commented that it is very difficult to file a reply to the Show Cause Notice within 12 hours.
A detailed examination of the Income-Tax Department’s investigation into Reporting Entities, with a specific focus on a prominent Tamil Nadu bank. Discover the importance of complete and accurate financial transactions reporting.
Discover top tax-saving investment strategies in India, including options like PPF, life insurance, mutual funds, and mediclaim policies. Learn expert tips for effective tax planning and explore tax-saving investment options for senior citizens. Save significantly on taxes by making informed financial decisions.
The income tax department developed the idea of capital gain exemptions to address this problem. If we receive money from the sale of capital assets, we have the choice to deposit it in our CGAS account before filing our income tax return or before the return’s due date, which is typically July 31st.
Understand Section 194S for TDS payment on the transfer of virtual digital assets like cryptocurrencies, NFTs, and DeFi. Learn about its provisions, applicability, and the filing of Form-26QE within the specified time limit. Stay informed to navigate tax regulations in the evolving digital asset landscape.
In Nisarahmed Abdulsattar Vs. ITO, ITAT Ahmedabad quashes the Assessment Order for failure to collect TCS on the sale of metal scrap before the limitation period. Read the full order here.
