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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 199 clarifies what constitutes a “specified order” and lays down strict eligibility conditions to determine who can approach the Dispute Resolution Committee under section 379.
Rules 197–198 prescribe Form 119 with ₹1,000 fee for DRC applications and set clear conditions for penalty waiver or prosecution immunity under section 379.
Rule 215 prescribes Forms 130–133, fixed due dates, and digital authentication requirements to ensure uniform issuance of TDS/TCS certificates under section 395(4).
Tribunal held that rejection of the Project Completion Method was invalid as the Assessing Officer did not record satisfaction under section 145(3). Income was directed to be recomputed under the method consistently followed by the assessee.
Tribunal held that application software licences with limited duration and no ownership rights are revenue expenditure. It deleted the disallowance and ruled that remand by the Commissioner (Appeals) was unjustified.
FAQs on TCS under Income Tax Act, 2025 as amended by Finance Bill, 2026, covering rates, exemptions, PAN, returns, due dates, interest and penalties.
Draft Rule 146 prescribes fixed conversion formulas for slot and space charters, defines qualifying incidental shipping income, and imposes a 49% charter-in threshold—breach of which results in loss of tonnage tax scheme benefits.
Draft Rule 147 requires Board orders issued under section 239(3)(a) to be published through Gazette, official website, notice boards, and trade bodies to ensure transparency and public awareness.
Draft Rule 148 of the Income-tax Rules, 2026 lays down comprehensive procedures, authorisation formats, safeguards, and custody mechanisms for search and seizure under section 247 to ensure transparency and legal compliance.
Draft Rule 149 of the Income-tax Rules, 2026 introduces a structured approval system, prescribed forms, and timelines for requisitioning services and making valuation references under section 247, ensuring transparency and regulatory oversight.
