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Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
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...
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.
The case addressed risks of data manipulation and concealment. It was held that mandatory reporting of accounting systems and data storage enhances transparency and traceability.
The issue was whether maintaining a daily register is compulsory. It was held that medical practitioners exceeding prescribed limits must maintain Form 25 to ensure proper income reporting and compliance.
The issue was whether audit reporting is required for such income. It was held that Form 24 is compulsory for non-residents earning royalty or FTS through a PE, ensuring proper income computation.
The case addressed post-notification compliance failures. It was held that violation of conditions or non-genuine activities can lead to revocation of notification and tax benefits.
The issue was whether tax benefits can be claimed without prior approval of the project. It was held that filing Form 22 before commencement is compulsory, and benefits cannot be granted without such approval.
Form 21 is essential for claiming tax benefits on agricultural extension projects. CBDT held that only notified and approved projects meeting Rule 37 conditions qualify for such benefits.
The issue was whether approval can be sought after project commencement. It was held that Form 20 must be filed before starting the project, making prior approval essential for tax benefits.
The issue was whether tax benefits can be claimed without filing Form 19. It was held that notification is compulsory, and benefits cannot be allowed without fulfilling this requirement.
