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Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...
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 : 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 Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter wa...
Income Tax : The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-t...
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 : 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...
Unravel the intricacies of TDS under Section 194-O of the Income Tax Act, 1961 effective from 01/10/2020. Explore its applicability, limits, eligibility criteria for e-commerce operators and participants, and grasp the essentials for compliance.
ITAT Cochin held that as per condition mentioned in section 54F deduction is not available if the assessee owns more than one residential house, other than the new asset. The same should be interpreted to mean ownership of residential houses in India. Accordingly, deduction u/s. 54F not deniable if assessee owns two residential houses in USA
ITAT Jaipur held that non-compliance inspite of repeated notices/ summons has led to gross negligence on the part of the assessee and accordingly matter restored back and cost of Rs. 2,000/- imposed for negligent attitude during income tax proceedings.
It is seen that the assessee is maintaining regular books of accounts. The first item is of Rs. 20,50,000/- claimed to have been received from farmers out of advances made in the preceding year.
ITAT Delhi held that issuance of notice under section 274 r.w.s. 271(1)(c) of the Income Tax Act without specifying the particular limb under which the penalty proceedings have been initiated concludes that the notice is issued in a stereotyped manner without applying mind and accordingly imposition of penalty is bad in law.
Understand the comparison of Tax Audit (Section 44AB) with Sections 44AD and 44ADA post Finance Bill 2023. Learn the eligibility criteria, conditions, and benefits of each section.
Procedure, format and standards for filling an application in Form No. 15C or Form No. 15D for grant of certificate for no-deduction of income-tax under section 195(3) of Income Tax Act, 1961 through TRACES
Understand the interplay between TDS under section 194Q and TCS under section 206C(1H) in the Income Tax Act. Learn the basic provisions and applicability of these sections on both the purchase and sale of goods.
Explore the recent amendments to the Prevention of Money-Laundering Act, 2002, making regulations on cryptocurrency transactions more stringent. Understand the expanded scope, documentation requirements, and implications for reporting entities under the PMLA Act.
Learn about TDS on the purchase of immovable property in India under Section 194IA & Form 26QB. Understand the applicable rates, thresholds, and steps for filing.
