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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
Rule 181 of the Draft Income-tax Rules, 2026 introduces a unified electronic application system for non-profit registration and tax approval, detailing forms, authorities, cancellation, surrender, and re-application procedures.
Draft Rule 180 prescribes Form ITR-BL and electronic filing modes for block assessments, ensuring standardized reporting and verification of undisclosed income.
Draft Rules 178 and 179 mandate specific forms for TDS credit applications and notices of demand, ensuring standardized compliance and administrative clarity.
Draft Rule 177 requires successor entities to file a digitally verified ITR-A and empowers the Assessing Officer to modify assessments to reflect business reorganisation orders.
Draft Rule 176 lays down a comprehensive, technology-driven framework for faceless assessment, reassessment, and recomputation to ensure transparency, automation, and reduced discretion in tax proceedings.
Draft Rules 174 and 175 specify inspection hours for Valuation Officers and designate the competent authority for issuing notices under section 270(8), ensuring procedural clarity and accountability.
Draft Rule 173 clarifies jurisdiction of Valuation Officers by prescribing value thresholds and supervisory powers to ensure structured and efficient asset valuation under the Income-tax Act.
Draft Rule 172 of the Income-tax Rules, 2026 prescribes hourly fee limits and oversight mechanisms for audit and inventory valuation to ensure transparency and prevent excessive billing.
The ITAT held that the enhanced ₹25 lakh leave encashment exemption is a beneficial and curative amendment and can apply retrospectively to earlier retirees. The ruling enables eligible taxpayers to claim refunds despite earlier ₹3 lakh limits, though the issue awaits final judicial settlement.
AIS analytics now detect non-filers where pension and interest income exist. Voluntary filing through ITR-U helps avoid notices under Sections 142(1) and 148, saving professional costs and compliance burden.
