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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...
ITAT Bangalore held that business of the assessee is to invest in shares and that the borrowing was for the purpose of business. Accordingly, interest paid on such borrowing is allowable under section 36(1)(iii) of the Income Tax Act.
ITAT Delhi held that lower of unabsorbed depreciation and business loss deserved to be set off against the current year books profit in terms of provisions of clause (iii) of Explanation-1 to Section 115JB (2) of the Income Tax Act.
ITAT Delhi held that payment of IUC Charges is not Fee for Technical Services or Royalty within the meaning of its definition as per section 9(l)(vi) and 9(l)(vii) of the Act. Accordingly, disallowance u/s 40(a)(ia) on account of non-deduction of TDS unjustified.
ITAT Ahmedabad held that arms length interest rate for loan advanced to foreign subsidiary by Indian company should be computed based on market determined interest rate applicable to currency in which loan has to be repaid.
ITAT Bangalore held that revisionary jurisdiction under section 263 of the Income Tax Act could not be allowed to be exercised by the PCIT either for substituting his own opinion for that of the AO or for making a fishing and roving enquiry.
Assessee cannot be called upon to pay the tax which has been deducted at source from his income, even though not deposited by his employer – Quashes demand on employee arising from TDS not deposited by Kingfisher Airlines.
Supreme Court held that date of Panchnama last drawn would be relevant date for considering period of limitation of two years and not last date of authorisation
Understand TDS on Rent and TDS on Commission with this comprehensive summary. Learn about the provisions, rates, and thresholds for deducting TDS on these payments.
Exemptions from tax, also known as non-taxable income, refer to the income that is not subject to income tax. This income may be exempt from tax for a variety of reasons, such as being below a certain threshold or being earned through certain sources. In this article, we will delve deeper into the concept of non-taxable income and the types of income that are exempt from tax.
Discover the details of Corporate Tax in the United Arab Emirates (UAE) under Federal Decree-Law No. (47) of 2022. Learn about its impact on businesses, tax rates, and compliance for UAE companies and foreign entities operating in the region. Stay informed about the latest developments in the UAE’s Corporate Tax landscape.
