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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 36 is a mandatory certificate under section 151(5) of the Income-tax Act, 2025, required for authors claiming deduction on royalty income, copyright fees, or similar consideration from scientific, literary, or artistic books.
The issue was whether deductions can be claimed without filing Form 35. It was held that filing the audit report is mandatory, and absence leads to denial of benefits.
Form No. 34 under the Income-tax Rules, 2026 is a mandatory report for audited assessees claiming deduction under Section 146 of the Income-tax Act, 2025 for additional employee cost. It replaces Form 10DA and must be filed along with the return of income and audit report.
Taxpayers must file Form 33 to claim SEZ deduction on profits. Proper reporting of reserve utilisation and asset purchase is essential for eligibility.
The issue was whether deductions can be claimed without filing Form 32. It was held that furnishing the audit report is mandatory, and non-compliance leads to denial of tax benefits.
Taxpayers must file Form 31 to claim rent deduction if no HRA is received. Proper filing ensures eligibility for deduction up to Rs. 60,000 annually
The form is required to claim deductions for dependants with disabilities under Sections 127 and 154. Filing with a valid medical certificate is essential to avoid denial of benefits.
The issue was whether tax benefits can be claimed without filing Form 29. It was held that furnishing the certificate is mandatory, and non-compliance leads to denial of carry forward and set-off benefits.
This article explains the requirement to file Form 28 under Section 77(4) for slump sale transactions. The key takeaway is that filing is compulsory for capital gains computation.
The case examined inconsistencies in capital gains allocation. It was clarified that valuation-backed reporting under Form 27 ensures accurate attribution and reduces disputes.
