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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...
Rules 216–217 mandate Forms 134/135 for TAN allotment with strict timelines and provide relief from higher TDS for non-residents without PAN, subject to prescribed documentation.
Rule 214 enables payers to seek a certificate in Form 129 for determining the taxable proportion of sums paid to non-residents, ensuring accurate TDS compliance under domestic law and DTAA.
Rules 212–213 introduce Form 127 for buyer declarations to avoid TCS and Form 128 for obtaining lower or nil TDS/TCS certificates, with strict eligibility and compliance safeguards.
Rules 210–211 provide no TDS on specified UTI unit income of non-residents and prescribe Form 121 with UIN tracking to ensure transparent declaration-based tax compliance.
Rule 209 allows eligible branches of foreign banks, insurers, and other entities to apply in Form 126 for a certificate authorising receipt of specified income without TDS, subject to strict compliance conditions.
Rules 207–208 mandate telegraphic transfer buying rate for foreign currency TDS and introduce Form 125 for specified senior citizens to enable proper tax deduction by banks.
Rule 206 mandates use of the telegraphic transfer buying rate with defined specified dates for different income heads to ensure uniform foreign currency conversion into rupees.
Rules 204–205 mandate specific forms and documentary evidence for salary TDS computation, ensuring proper disclosure of income, deductions, and employee claims.
Rules 201–203 streamline certification of advance rulings, align High Court appeal procedures, and prescribe detailed conditions for grant and allocation of TDS/TCS credit.
Rule 200 mandates filing of advance ruling applications in Form 120 with transaction-based fee slabs, ensuring structured and uniform compliance under section 383.
