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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
This session breaks down the major income tax amendments announced in the Union Budget 2026 in a clear and practical manner. It highlights what has changed and the immediate impact on taxpayers and businesses.
Jewellery imports now follow weight-based limits instead of value caps, offering relief amid rising gold prices. Transfer of Residence limits are also increased with an updated list of modern household items.
The proposed amendment disallows any interest deduction against dividend and mutual fund income. As a result, dividends will now be taxed on a gross basis, increasing the tax burden on leveraged investors.
The Income-tax Act, 2025 introduces a targeted exemption for foreign companies using notified Indian data centres. The measure removes source and permanent establishment concerns while reinforcing India’s ambition to become a global data and AI hub.
The Tribunal held that estimating profit at 20% of turnover in a milk trading business was arbitrary and unsupported by industry realities. It restricted the gross profit rate to 5%, recognising wastage, spoilage, and thin margins typical to the trade.
The new tax framework retains existing rates but introduces wide-ranging reforms in MAT, penalties, disclosures, and filing procedures.
The Finance Bill, 2026 proposes sweeping changes to TCS, return filing timelines, penalties, and MAT to simplify compliance and reduce litigation.
The Tribunal held that revision under section 263 was invalid where the MAT adjustment arose mechanically from a transition amount already examined in an earlier year, and no fresh error was shown.
The Tribunal held that remanding an assessment under the amended section 251(1)(a) is legally valid. The key takeaway is that appellate remand powers now have clear statutory backing.
The Tribunal held that while interest on enhanced compensation was taxable as per settled law, the exemption claim for land compensation required verification. The matter was remanded for fresh examination.
