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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...
Form 76 requires business trusts to report income distributed to unit holders under Section 223. It ensures compliance with pass-through taxation where income is taxed in the hands of investors. The form introduces improved reporting fields for transparency and accuracy.
The dispute revolved around absence of Form 75 for investor reporting. It was held that the form ensures proper income classification and tax treatment. The decision reinforces mandatory compliance.
The case examined whether income could be properly taxed without Form 74. It was held that the form is essential for implementing pass-through taxation. The ruling highlights procedural compliance.
The issue concerned failure to furnish Form 73 within the prescribed timeline. It was held that timely issuance is mandatory for compliance and accurate investor reporting.
Form 72 mandates reporting of income distributed by securitisation trusts to investors. It ensures compliance with pass-through taxation under Section 221.
Explains the mandatory filing of Form 71 for specified funds to claim exemption or concessional tax rates. Highlights audit certification, due dates, and compliance conditions.
The dispute revolved around exemption claims without submitting Form 70. It was held that the form ensures proper disclosure and verification. The decision reinforces mandatory compliance for tax relief.
The FAQs clarify that filing Form 69 within the due date is a mandatory condition to claim concessional taxation under Section 210(2). Failure to file or incorrect submission can lead to denial of tax benefits. The key takeaway is strict compliance is essential for eligibility.
Form 68 is required for claiming exemption on income of specified funds under the new tax law. Filing within due date is mandatory to avail exemption benefits.
The issue concerned whether uncertified or missing Form 67 could validate AMT claims. It was held that CA certification and filing are essential conditions. The ruling highlights the importance of authenticated reporting.
