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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
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 : 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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
Informatica Business Solutions Pvt. Ltd. Vs DCIT (ITAT Bangalore) Assessee has sold software products and also received income for providing support services. He submitted that providing ancillary support services is also related to sale of software products only. He submitted that the decision rendered by Hon’ble Karnataka High Court in the case of Samsung Electronics […]
As we know, an income tax return is to be furnished within the prescribed time limit. In case of failure, the taxpayer will be liable to pay interest for delay in filing of an income tax return. Accordingly, such interest is payable as provisions of section 234A of the Income Tax Act, 1961. Recently, while […]
DCIT Vs Board of Cricket Control in India (ITAT Mumbai) Deputy Commissioner of Income Tax has challenged correctness of the order dated January 09, 2019 passed by CIT(A) quashing the reassessment order passed by the Appellant without issuance of notice under Section 143(2) of the Income Tax Act, 1961 (IT Act), for the assessment year […]
Jaffaorulla Syeaadunnishaa Vs ACIT (Madras High Court) Jaffaorulla Syeaadunnishaa (the Petitioner) challenged an assessment order dated December 24, 2019 (Assessment Order) under Section 144 of the Income tax act (IT Act) for being in violation of principles of natural justice and against the Circular dated December 26, 2019. The Petitioner was issued a show cause […]
Notification No. 89/2021-Income Tax | Dated 04.08.2021 Chief Justice of the High Court for the State of Telangana, hereby designates the Court of the Special Judge for Economic Offences-cum-VIII Additional Metropolitan Sessions Judge-cum-XXII Additional Chief Judge, City Civil Court, Hyderabad as the Special Court for the State of Telangana for the purposes of sub-section (1) […]
Cancellation of registration of a Trust or Institution under section 12AA/AB of Income-tax Act 1961 – latest Supreme Court decision and legal ramifications Registration of trust or institution Income of a Trust created wholly for charitable or religious purposes or an institution established wholly for such purposes is exempt from income tax if granted registration […]
Deductions are the relief provided by the government to taxpayers through which they can legally save their taxes through various platforms for e.g.- By investing their money, making allowable expenditures on which deductions are available such as Tuition fees for children, Donations made to the recognised institutions, Medical expenditures on self and dependents, Interest on […]
Understand Section 194Q of the Income Tax Act, 1961 for tax deduction guidelines on purchase of goods exceeding Rs.50 Lakhs.
In Commissioner of Income Tax (Exemptions), Kolkata v. Batanagar Education and Research Trust [Civil Appeal No. 4451 of 2021], the Commissioner of Income Tax (Exemptions), Kolkata (the Appellants) and the Tribunal had directed for cancellation of the registration of Batanagar Education and Research Trust (the Respondents) under Section 12AA of the Income Tax Act, 1961 […]
21st century world largely operates under a Global Economic System. International Business is the buzz all around & businesses are not confined to boundaries. It involves cross border transactions both in goods and services. Conducive International Business Environment is imperative for multinational companies to operate and perform. In order to promote cross border trade, the […]
