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Income Tax : The Income-tax Act, 2025 has officially replaced the Income-tax Act, 1961 from 1st April 2026. The new law focuses on simplified l...
Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Madras High Court held that membership fees received for long-term time-share agreements could not be fully taxed in the first...
Income Tax : The ITAT Chandigarh held that reassessment proceedings initiated under an incorrect and obsolete PAN suffered from a jurisdictiona...
Income Tax : ITAT Delhi deleted transfer pricing adjustments after holding that retail and after-sales businesses could not be compared with wh...
Income Tax : The Bombay High Court held that penalty proceedings under Section 271-D cannot continue independently when the appeal against the ...
Income Tax : The ITAT Ahmedabad restored reassessment proceedings after the assessee produced documents showing disputed property sales and pen...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
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...
The Court held that an employee must be given access to documents relied upon for dismissal, including the Police Verification Report. It directed the department to furnish the report while keeping the merits of termination open.
The High Court quashed the rejection of a university’s Section 10(46) application because no opportunity of hearing was granted. It held that prior exemptions under other provisions do not bar independent consideration.
The High Court dismissed Revenue appeals for AY 2006-07 to 2011-12, holding that its earlier decisions on treaty interpretation squarely applied. It ruled that the Tribunal correctly relied on binding precedents, leaving no ground for interference.
The Tribunal remanded the disallowance of PF and ESI contributions to the CIT(A) to reconsider the issue in light of the Supreme Court’s decision in Checkmate Services. The appeal was allowed for statistical purposes to ensure consistent adjudication.
Explains new UAE corporate tax guidance on family foundations, transparency rules, investment activity limits and compliance duties.
Budget 2026 introduces electronic system for lower or nil TDS certificates from 1 April 2026, impacting cash flow, MSMEs and compliance duties.
Sections 4, 5, and 14, together provides the legislative framework for imposing the income tax, identifying the extent of taxable income, and categorizing income into various heads for computational purpose, all these provisions provide the basis of this Act’s tax system
The 2025 Act restructures and renumbers sections across all five heads of income. Understanding the old-to-new section comparison is essential for accurate interpretation from FY 2026–27.
Explains treaty shopping, hybrid mismatches, profit shifting and BEPS reforms, and how structural gaps challenge modern international tax systems.
ITAT Mumbai deleted ₹6.15 lakh penny stock LTCG addition, holding investigation report and abnormal price rise insufficient without direct evidence linking assessee to accommodation entries.
