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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...
Misreporting under Section 270A(9) applies only to six specific circumstances. Where the assessment order does not clearly establish that the case falls within those clauses, the enhanced 200% penalty becomes legally vulnerable.
The March 2026 compliance schedule lists important due dates for GST returns, TDS filings, advance tax, FEMA reporting and CSR spending. Businesses must track multiple deadlines between 2 March and 31 March 2026.
Rule 233 defines when electronic notices are deemed authenticated and empowers the Systems Directorate to specify designated emails, websites, and security standards.
Rule 232 specifies permissible physical and electronic addresses for serving notices under section 501 and mandates secure digital transmission standards by the Systems Directorate.
Rules 226–231 of the Draft Income-tax Rules, 2026 specify powers of Tax Recovery Officers, tax clearance procedures, refund claims, and immunity applications, ensuring procedural clarity and compliance.
Rule 225 prescribes a comprehensive framework for recovery of tax arrears, covering attachment, sale, arrest, appeals, and time limits to ensure legally structured enforcement.
Rules 221 to 224 specify mandatory forms for accountant certificates, notice of demand, advance tax estimates, and recovery statements to standardize compliance under the Income-tax Act.
Rule 220 requires structured filing of Form 145 for payments to non-residents, prescribes exemptions for specified remittances, and mandates quarterly reporting by authorised dealers and IFSC units.
Rule 219 prescribes Forms 138, 140, 142–144, fixed quarterly due dates, special challan-cum-statements for specified transactions, and refund claims in Form 139 to streamline TDS/TCS reporting.
Rule 218 prescribes clear due dates, challan-cum-statement requirements, quarterly payment options, and electronic remittance procedures for TDS/TCS deposits.
