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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 : 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 article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. ...
Income Tax : The Tribunal quashed the reassessment after finding that the Assessing Officer failed to issue notice under Section 143(2). The de...
Income Tax : The Tribunal quashed the reassessment after finding that the assessee had already filed the return under Section 139 before issuan...
Income Tax : The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of be...
Income Tax : ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The ...
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...
Delhi High Court held that there are reasonable grounds to believe that the Applicant is not guilty of the offence. Further, the Applicant is also not likely to commit any offence while on bail. Accordingly, bail granted.
ITAT Kolkata held that interest subsidy received under the amended Rajasthan Investment Promotion Scheme, 2003 is capital receipt and hence the same is not chargeable to tax.
Arm’s Length Price of a transaction can be referred to as such price at which the business profits can be maximized commensurating with the functions performed, assets utilized and risk assumed in such transaction including the fundamental criterion of allocating business income/profits in different tax jurisdictions.
Understand TCS on Sale of Goods (Section 206C(1H)) with FAQs. Learn about rates, applicability, and key clarifications. Stay informed on Income Tax Act changes for better compliance.
Explore new income tax payment options Internet Banking, Debit Card, Pay at Bank Counter, RTGS, and Payment Gateway. No transaction charges for certain modes. Check available banks and make secure online payments hassle-free.
Gujarat High Court held that it is satisfied that provisional attachment is hindering the continuation of business of the petitioner, hence continuation of provisional attachment not necessary as the interest of revenue can be safeguarded by furnishing of a bank guarantee.
Understand the implications of unexplained investments and expenditures under sections 69 to 69C of the Income Tax Act, 1961, with a focus on the 84% tax rate. Ensure meticulous documentation to avoid deemed income and penalties.
Explore the nuances of Section 54 of the Income Tax Act, 1961, including amendments from the Finance Act, 2019. Learn how the provision allows claiming deductions for investing in residential houses, with insights into recent rulings clarifying the eligibility criteria.
Utilisation of capital gains within time specified would entitle assessee to claim deduction under section 54, notwithstanding fact that new asset was registered beyond period specified under section 54, which according to assessee was beyond her control and was to be liberally construed.
The Honble Supreme Court held that in the event of Slum Sale, the appellant would not be liable for any tax obligations before the date on which Agreement was executed as the appellant was neither a dealer nor a manufacturer before the date of execution of Agreement.
