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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...
Section 192 provides deduction of tax ‘at the time of payment’. Admittedly there was no payment of the salary etc, which was foregone as per terms of settlement in mediation proceedings.
Understand Income Tax for Non-Resident Indians selling property in India. Learn about Capital Gains Tax, TDS, and Tax Deductions. Explore TDS rates, exemptions under sections 54 & 54EC, and how to save on Capital Gains Tax. Important notes on property inheritance and TDS deduction. Stay informed to make tax-efficient decisions.
Assessee continued to be granted the exemption under Section 12A of the Act. It is the case on behalf of the appellant that till 1987 there was no requirement of issuance of any certificate of registration of Section 12A and only filing an application for registration under Section 12A and processing the same by the Department was sufficient.
Ketan Sahebrao Purkar Vs ITO (ITAT Pune) The issue involved in the present appeal is whether on the facts and circumstances of the case, the appellant is liable to deduct tax at source u/s 194H in respect of expenditure claimed to have been debited to Profit & Loss Account under head “commission”. Without delving into […]
Kabeer Khan Vs ITO (ITAT Hyderabad) Since the legal heirs of the diseased assessee in the instant case have not taken any steps to file the revised Form No.36, duly filled up giving the revised name of the party duly verified in the manner as prescribed in the rules, therefore, the present appeal cannot be […]
Ghatkesar Farmers Service Cooperative Society Limited Vs ITO (ITAT Hyderabad) ITAT held that assessee being a primary agricultural co-operative society invested the own surplus funds with the Union Bank of India and, therefore, the assessee is entitled to claim the deduction under section 80P(2)(a)(i) of the Act. It could be seen from the name of […]
Provision of Section 80P(2)(d) of the Act does not make any distinction in regard to source of the investment because this Section envisages deduction in respect of any income derived by co-operative society from any investment with a co-operative society.
Nirmal Kumar Minda Vs ACIT (ITAT Delhi) The ground No.2 relates to the addition of Rs.37.50 lacs u/s. 69B of the Act in respect of 6 paintings found at the residence of the assessee. The underlying facts in the impugned issue are that 6 paintings were found at the time of search which were got […]
CIT(A) was not right in levying interest under Section 234A of the Act when the return was filed under Section 148 itself and therefore, the interest should be charged from the date of notice under Section 148 of the Act itself and not from the date of return filed under Section 139 or it is due date under Section 139.
DCIT Vs Shri Sanjay Singhal (ITAT Delhi) The undisputed fact is that the substantive as well as protective additions have been made u/s 69A r.w.s 115BBE of the Act. A bare perusal of the assessment order clearly shows that no money, bullion, jewellery or valuable article was found during search conducted on 07.04.2017 which is […]
