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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
The new law restructures TDS provisions into Sections 392, 393, and 394, altering compliance procedures. Correct selection of codes and deductee details is crucial to avoid errors and notices.
Dealer incentives like tour packages are taxable as business income under the new law. If TDS is borne by the payer, it must be added as additional income through grossing up.
The issue was deletion of additions on unsecured loans treated as unexplained cash credits. The tribunal upheld deletion, holding that a favourable remand report confirming genuineness and creditworthiness weakens the Revenue’s case.
The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency and limits arbitrary reassessment powers.
The issue concerns fragmented litigation under the earlier tax regime. The new law integrates multiple proceedings into a unified process, reducing duplication. The key takeaway is that litigation is streamlined rather than eliminated.
The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faster and fair disposal of tax appeals.
The issue involved dismissal of appeal due to delay and non-appearance. The tribunal condoned the delay citing medical reasons and remanded the matter for fresh assessment, imposing cost for non-compliance.
The issue was addition of deemed dividend under search assessment. The tribunal held that without incriminating material, additions in completed assessments are unsustainable.
The issue was whether reassessment could be initiated after four years without fresh evidence. The court held such reopening invalid when based on existing records and no failure of disclosure.
The issue was whether a long delay in filing appeals could be condoned. The tribunal held that absence of credible explanation bars condonation, leading to dismissal of appeals.
