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Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
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 reassessment proceedings under Section 147/148 were invalid where the case was based on search material ...
Income Tax : The Tribunal condoned the delayed appeal filing after finding sufficient cause and allowed the matter to proceed. It also clarifie...
Income Tax : The ITAT Delhi ruled that the CIT(A) cannot reclassify an addition under a different provision of the Income-tax Act without issui...
Income Tax : The ITAT ruled that deduction of TDS does not excuse failure to file an income tax return. The decision emphasizes that income dis...
Income Tax : The Tribunal held that technical glitches on the income tax portal, coupled with grievances raised by the taxpayer, justified cond...
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...
Board of Control for Cricket in India Vs PCIT (ITAT Mumbai) Facts- The appellant (BCCI) has preferred an appeal against three show-cause notices issued by the department alleging that the tax exemption that the appellant is enjoying under Section 12A of the Income Tax Act should not be revoked for generating income through the IPL. […]
The Income Tax Department carried out search and seizure operations on 16.11.2021 on a prominent Kolkata based group engaged in manufacturing of cement and real estate. The search action covered 24 premises spread over Kolkata, Delhi and places in the states of Assam and Meghalaya.
Veena Pandey Vs Union of India (Supreme Court of India) Pension as is well known, is the deferred portion of the compensation1 for rendering long years of service. It is a hard-earned benefit accruing to an employee and has been held to be in the nature of property by this Court, in State of Jharkhand […]
This article answer FAQs on Annual Information Statement (AIS), Taxpayer Information Summary (TIS), Accessing AIS on Portal, Viewing Annual Information Statement (AIS) through Portal, Downloading AIS related files through Portal, Submitting feedback through Portal, Modify Feedback through Portal, Viewing AIS through AIS Utility, Submitting Feedback through AIS Utility, Saving draft feedback file on AIS Utility, […]
Taxpayer Information Summary (TIS) is an information category wise information summary for a taxpayer. The same is updated based on the feedback provided by taxpayer in AIS
Annual Information Statement (AIS) Utility Presentation Background ♦ To promote transparency and simplifying the tax return filing process, CBDT has amended Form 26AS (vide Notification dated May 28, 2020) ♦ The new Form 26AS is an Annual Information Statement or AIS which will provide a complete profile of the taxpayer for a particular financial year. […]
User can view Annual Information Statement (all parts and information) by importing the downloaded (AIS) – JSON file and can prepare the feedback through AIS Utility as well in offline mode. The purpose of this document is to provide a comprehensive understanding of the Annual Information Statement (AIS) Utility available at Compliance Portal (AIS Homepage). […]
Income Tax Department conducts searches in Delhi and Haryana The Income Tax Department carried out search and seizure operations on 09.11.2021 in the case of a Fintech company providing instant short term personal loan through Mobile App. The searches were conducted on the business and residential premises in Delhi and Gurugram. During the search, it […]
From a conjoint reading of Section 2(1)(j)(A), Section 2(1)(o)(i), Section 3, Section 5 and Section 6 of the DTVSV Act, it is clear that there is no provision in the DTVSV Act, which authorises recovery of interest paid earlier by the Department under Section 244A as disputed tax, there being no statutory mandate for the Designated Authority to recover interest as disputed tax in the manner sought to be done in this case.
Shaheen Khan Vs ITO (ITAT Allahabad) Facts- The main sources of income of the assessee were from interest on FDRs, interest on saving bank account and interest income of his minor son and daughter. ROI of the assessee was processed by Revenue u/s 143(1) of the Act, and later on the case of the assessee […]
