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Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
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 ITAT condoned the delay after finding that assessment and appellate notices were sent to incorrect email addresses. The ruling...
Income Tax : The ITAT observed that invoking the test of human probabilities cannot replace factual verification of books and bank records. Add...
Income Tax : The ITAT found that provisions for identified legal and professional expenses represented crystallized liabilities requiring TDS d...
Income Tax : The Court held that the delay in e-verification of Form 10B during the pandemic was supported by bona fide reasons. It ruled that ...
Income Tax : The Delhi ITAT held that the full value of unaccounted sales cannot automatically be treated as taxable income. It restricted 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...
CBDT has released draft common Income Tax Return Form by merging all the existing returns of income except ITR-7 for all taxpayers barring trusts and non-profit organizations, to which all stakeholders and general public can provide inputs up to December 15.
A comprehensive guide to Tax Deduction (TDS) and Tax Collection (TCS) for vendors selling products and providing services through E-commerce operators.
DCIT Vs Sikraft Infotech Private Limited (ITAT Mumbai) Software Development expenses claimed by the assessee are in the nature of payment of salaries and allowances to the Engineers, travelling expenses, etc. The assessee is engaged in the process of providing automation, software and hardware engineering. The said expenditure is in the regular course of business […]
Kamla Devi Vs ITO (ITAT Delhi) In the present case, from the orders of the authorities below, it is clear that the authorities below have treated interest received by the assessee on enhanced compensation u/s 28 of the Land Acquisition Act, 1984 as ‘Income from other sources’ and denied exemption u/s 10(37) of the Act. […]
According to section 269SS, it is very much clear that any assessee cannot take loan or deposit from any person of Rs. 20,000 or more in cash, in other word it is to be received by account payee cheque or account payee bank draft or any electronic mode. It has also been clarified that at the time of taking loan or deposit or making payment of loan or deposit, if any amount is outstanding in his account, this is to be considered.
Find answers to your FAQs on CSI (Challan Status Inquiry) under Income Tax. Learn how to download the CSI file and get step-by-step guidance.
BMC Software India P. Ltd Vs DCIT (ITAT Pune) ITAT Pune held that charges of Primary Rate Interface doesn’t require human intervention and hence doesn’t qualify as fees for technical services. Accordingly, TDS not deductible u/s 194J of the Income Tax Act. Facts- Assessee challenged the disallowance of Primary Rate Interface (PRI) line charges paid […]
Jharkhand High Court held that acceptance of bribe duly proved and accordingly, a punishment of six months simple imprisonment under Section 7 of the PC Act and one year’s simple imprisonment under Section 13 (2) r/w 13 (1) (d) of the P.C. Act with a fine of Rs.1000 sentenced for accepting bribe for furnishing Income Tax clearance certificate
Gujarat High Court held that change of opinion on the part of the Assessing Officer acting on the same material which was examined by him in the regular assessment is erred in law.
Telangana High Court held that Tribunal rightly held the addition of LTCG as execution of registered sale deed is valid transfer u/s 2(47)(V). Hence, as the finding of fact by the Tribunal is clear the same doesn’t require any interference.
