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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...
Vinay Kumar Dhingra (HUF) Vs ITO (ITAT Delhi) Contention of Assessee: 1. The assessee fulfills all conditions specified u/s. 10(38) 2. Though the purchase of securities are off market, the sale of shares was made online on which STT has been duly paid. 3. The shares were held for approximately 18 to 20 months 4. […]
PCIT (Central) Vs Rashmi Rajesh Bafna (Gujarat High Court) Appeals Could Not Be Filed In High Court As Per CBDT Circular No. 23/2019 On Low Tax Effect Appeals If Review Application Before Tribunal Has Already Been Filed When Revenue Already Filed Rectification Application Before Tribunal For Review Of Order Which Has Been Dismissed Than Appeal […]
Reliance Globalcom Limited Vs DCIT (ITAT Mumbai) Conclusion: Standby Maintenance Charges received by assessee from TCL could not be assessed as FTS and was its “business income‟ that was taxable only to the extent of its reference to the “business connection” in India. Turnover (receipts) of Standby Maintenance Charges from TCL i.e attributable to the […]
Delhi Police Welfare and Recreational Club Fund vs. CIT (ITAT Delhi) We have gone through the record in the light of the submissions made on either side. Insofar as the nature of activity of promotion of welfare and recreational activities of the police personnel, by its nature, is concerned, Ld. CIT(E) does not dispute whether […]
FAQs on How to Register for Income Tax e-Filing (Taxpayer) Q. 1 Why should I register myself on the e-Filing portal? Ans. The registration functionality is available to all taxpayers with an active and valid PAN. Registering on the e-Filing portal will enable you to access and use the various functionalities and tax related services […]
FAQs on How Domestic Company can file Form 10-IC for opting concessional rate Q.1 Is it mandatory for all applicable taxpayers (Domestic Companies) to file Form 10-IC? Ans. No. This is optional. Form 10-IC is required to filed only if a Domestic Company chooses to pay tax at concessional rate of 22% under Section 115BAA […]
FAQs on Income Tax e-Filing Vault – Higher Security Q.1 What is e-Filing Vault? Ans. The e-Filing Vault service is available to registered users to enable higher security on their e-Filing accounts with second-factor authentication. e-Filing Vault may be used for logging into your e-Filing account and /or resetting password. Although using the e-Filing vault […]
Form 29B is a report under Section 115JB for computing the book profits of the Company. The same is to be furnished by a CA for a Company to which Section 11JB applies. This helps the assessee ensure correct computation of book profits to avail the resultant MAT credit arising out of the tax computed in accordance with the Income Tax Act.
FAQs on quarterly Submission of Form 15CC by an authorised dealer Q.1 What is Form 15CC? Ans. Every authorized dealer making remittance to a non-resident, not being a company or to a foreign company, is required to make a quarterly disclosure of such remittance in Form 15CC. Q.2 What are the modes of submission of […]
Tax Effect of ESOP Expenditure Employee Stock Option Plan (ESOP) is a scheme where a company issues its share to its employees at price lower than its market price with a condition that employees should be in employment or fulfill conditions attached to the scheme. An ESOP is an employee benefit plan that gives employees […]
