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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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 requirement mandates specified funds and brokers to report non-resident investor details quarterly. It ensures transparency and enables monitoring of cross-border transactions.
The issue relates to refusal of taxpayer information requested by an authorised authority. The framework allows rejection where disclosure is not in public interest, ensuring confidentiality safeguards.
The issue involved inability to provide requested taxpayer details. It was held that Form 090 must be issued when data is unavailable or no assessment is made. The decision reinforces procedural transparency.
The framework governs how taxpayer information is shared with authorised authorities. It ensures that disclosure is controlled, lawful, and limited to permissible information.
The issue involved incomplete or incorrect taxpayer details in Form 088. It was held that accurate identification and complete information are essential. The ruling highlights the importance of proper documentation.
The requirement ensures that companies under the tonnage tax scheme submit certified audit reports. It mandates verification of income computation and compliance with statutory conditions.
Form 80 enables eligible companies to opt for or renew the tonnage tax scheme under the new law. Filing is mandatory to avail simplified taxation based on tonnage. Proper compliance ensures continued eligibility for tax benefits.
The case examined whether pass-through taxation could operate without Form 79. It was held that the form is essential for proper income distribution reporting. The ruling highlights procedural compliance.
The dispute revolved around absence of Form 78 for investor reporting. It was held that the form ensures proper income classification and tax treatment. The decision reinforces mandatory compliance.
The update replaces earlier reporting formats with a system-generated statement for unit holders. It ensures accurate classification and reporting of income distributed by business trusts.
