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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The updated provisions explain how long-term capital gains are classified, computed, and taxed following amendments introduced by ...
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 Delhi ITAT held that reassessment proceedings were invalid where the Assessing Officer made additions unrelated to the reasons...
Income Tax : The Delhi ITAT held that electricity charges paid to statutory authorities in the ordinary course of business qualify as deductibl...
Income Tax : The ITAT Bangalore held that additions under Section 68 could not be sustained without proper examination of bank statements, PAN ...
Income Tax : The High Court held that appeals concerning the adequacy of sentence should be presented before the jurisdictional Sessions Court....
Income Tax : The Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
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 Chennai held that UPS and Printers being part of a computer systems and hence eligible for higher depreciation at the rate 60%
Supreme Court in JCIT v. M/s. Chambal Fertilizers & Chemicals Limited held that the term tax under Section 40(a)(ii) of the Income Tax Act, 1961 should also include cess.
ITAT Delhi held that total allowance of the remuneration (including bonus) to the partners has to be within the permissible limit of provisions of section 40(b) of the Income Tax Act.
Delhi High Court held that circular/ instruction no. 5051 dated 07.02.1991 states that prosecution normally be not initiated against a person who has attained the age of 70 years at the time of commission of offence. However, petitioner cannot be permitted to take benefit of Circular/ Instruction No. 5051 dated 07.02.1991 to find an escape route for the wrong committed by him.
Chhattisgarh High Court held that the prosecution has miserably failed to prove that the appellant possessed properties disproportionate to his known source of income. Accordingly, appellant is acquitted of the charge under Sections 13(1)(e) read with 13(2) of the Prevention of Corruption Act and hence bail granted.
ITAT Mumbai held that Inland Haulage Charges forms part of income from operation of ships in international traffic and hence covered under Article-9 of India-France Tax Treaty is not taxable in India.
ITAT Mumbai held that interest income earned by co-operative society on its investment held with the co-operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Income Tax Act.
Learn about global taxation of Indian resident individuals and how the Income Tax Act of 1961 affects them. Understand the applicable slab rate structure based on taxable income and deductions & exemptions that may apply.
Discover the advantages of Faceless Tax Assessment for taxpayers and agencies. Make income tax assessment easier and less time-consuming, plus reduce corruption & travel costs.
Learn the difference between the 2020 & 2021 faceless appeals scheme. This analysis examines the process, advantages & possible improvement for taxpayers & the Income-tax Department.
