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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...
Tax exemption is provided recognizing the authority’s statutory role in delivering legal aid. The ruling highlights that income linked to public service functions qualifies for exemption if conditions are met.
Government has notified a statutory authority for income tax exemption under section 10(46A). The decision confirms eligibility based on public purpose and statutory status.
The government notified a statutory trust for income tax exemption under section 10(46A). The ruling confirms that exemption applies subject to continued compliance with statutory purposes and conditions.
Form 43 is issued by the Income Tax Department to certify Indian tax residency for DTAA claims. It is essential for taxpayers seeking relief from double taxation in foreign jurisdictions.
The issue was whether DTAA benefits can be claimed without a TRC. It was clarified that Form 42 is essential to obtain a Tax Residency Certificate, without which treaty benefits may not be granted. Filing ensures compliance with cross-border tax requirements.
Form 41 is compulsory for non-residents claiming DTAA benefits on income earned in India. Without filing this form along with TRC, treaty relief is denied and higher TDS is applied. This makes compliance essential for tax efficiency.
The issue was whether tax deferral can be claimed without exercising the option. It was held that filing Form 40 is mandatory to avail relief under section 158. Without it, income may be taxed on accrual basis in India, leading to double taxation.
Form 39 must be filed to claim relief under Section 157(1) when income like arrears or gratuity is received in lump sum. It helps reduce excess tax due to income bunching and ensures correct tax computation. Filing is compulsory for valid claims.
The issue was whether deduction can be claimed without proof of inward remittance. It was held that Form 38 is mandatory to establish repatriation of income. Without it, deduction under sections 151 or 152 cannot be allowed.
The law requires resident patentees to file Form 37 to claim deduction on royalty income. Without this certificate, the deduction under section 152(5) cannot be allowed. Timely filing with proper certification ensures eligibility and avoids denial of tax benefits.
