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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...
TRX Technologies India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The assessee is contending to exclude from the list of comparables M/s. Acropetal Technologies Limited (Seg.), M/s. Accentia Technologies Limited, ICRA Online Ltd. and Jeevan Scientific Technology Limited. In similar circumstances and for the same assessment year, the jurisdictional Tribunal in the case of Aspect Technology […]
With a view to enhance and coalescing the fragmented liquidity in Corporate Bonds, SEBI has implemented Request for Quote (RFQ) Platform through Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The RFQ platform seeks to replicate the OTC market albeit on an electronic platform in a move to bring more transparency, centralization in protecting investor interest apart from having enough liquidity in Secondary Market.
whether the Tribunal is correct in making the addition of the entire jewellery found at the time of search as undisclosed income without appreciating that the said jewellery was acquired at the time of marriage over a period of time?
The issue under consideration is whether the reassessment proceeding u/s 147 initiated to form change of opinion which clearly amount to reviewing the original order of assessment is justified in law?
The issue under consideration is whether the income earned by the Assessees during the Assessment Years in question from letting out of its warehouses or property to lessees, is taxable under the head ‘Income from Business’ or ‘Income from House Property?
The issue under consideration is whether the actual purchase price of a second-hand asset can be ignored by purported recourse to Explanation 3 to Section 43(1) of the Income Tax Act, 1961?
Applicability: Applicable only to Domestic Companies from the Assessment year beginning on or after 1st April, 2020. The provisions under section 115BAA is optional nature not mandatory. Domestic companies once exercised the option of availing the benefit of lower tax rate U/S 115BAA it has to be continued for the subsequent assessment years. Further, as […]
Any person purchasing the property in India is required to comply with the Tax Deduction at Source (TDS) provisions. However, the TDS rate and provision is different if the property is purchased from Resident vis a vis purchased from Non Resident. Property Purchased from Resident: TDS provisions are simple if the property is purchased from resident as compared to Non […]
OFFICE ORDER – 2 Subject: Setting up of RFAC under Faceless Appellate Scheme, 2020- reg- In pursuance of para 4 of S.O. 3296 (E) Notification No. 76/2020/F.No. 370142/33/2020-TPL, dated the 25th September, 2020 notifying the Faceless Appeal Scheme, 2020 and powers conferred under section 250 (6B) of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby sets up the Regional Faceless Appellate Centres (hereinafter referred to as the RFACs), which shall have their headquarters at the places mentioned at column (3) and shall comprise of the following Income-tax Authorities:
OFFICE ORDER – 1 Subject: Setting up of NFAC under “Faceless Appellate Scheme, 2020”- reg In pursuance of para 4 of S.O. 3296 Notification No 76/2020/F.No 370142/33/2020-TPL,dated the 25th September, 2020, notifying the Faceless Appeal Scheme, 2020 and powers conferred under section 250 (6B) of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby sets up the National Faceless Appellate Centre (hereinafter referred to as the NFAC), which shall have its headquarters at Delhi and shall comprise of the following Income-tax Authorities: –
