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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...
Explore landmark ruling in Citibank N.A Vs S.K. Ojha case by Bombay High Court, confirming that post-Kar Vivad Samadhan Scheme determination, the Assessing Officer lacks jurisdiction to reopen tax assessments under Section 143 of Income Tax Act. Unearth key insights from this case setting a precedent for businesses under KVSS.
Supreme Court of India has recently issued an order requiring all revenue appeals before the Income Tax Appellate Tribunal (ITAT) to be filed exclusively through the e-filing mode. This directive aims to streamline the appeal process and improve efficiency. The Central Board of Direct Taxes (CBDT) has already instructed its field formations to comply with […]
Understand the PAN and Aadhaar number linking process as mandated by the CBDT circular. Explore the consequences of non-compliance, learn about the fee structure, and access useful links for checking and updating your PAN-Aadhaar status. Ensure seamless financial transactions and avoid penalties by linking your Aadhaar with PAN before the deadline.
ITAT Bangalore held that if two out of the three preceding assessment year the comparable has earned profits it cannot be held a persistent loss making company. Hence, persistent loss filter can be applied only if there is loss in three successive assessment years.
ITAT Mumbai ruled that membership fees paid for a key person of a company are allowable as business expenditure. The case involved the disallowance of club membership fees paid to Cricket Club of India.
ITAT Mumbai ruled that the interest subsidy received under the technology upgradation fund scheme is considered a capital receipt, even if it is credited against interest expenditure in the books of account.
In a recent case, the ITAT Hyderabad held that the provisions of section 115BBE of the Income Tax Act are not applicable when the source of income is disclosed.
Central Board of Direct Taxes extends deadline for submitting Q1 TDS/TCS statements for the financial year 2023-24 until September 30, 2023.
Ignorance of tax obligations on income earned from a partnership doesn’t excuse late filing of Income Tax Returns. ITAT Mumbai upholds Section 271F penalty in a recent case involving an advocate and his late ITR filing.
ITAT Mumbai held that addition u/s 69 of the Income Tax Act unsustainable as the assessee being non-resident, income has been invested in India and not arisen in India.
