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Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is p...
Income Tax : This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond th...
Income Tax : The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The ITAT Mumbai held that cash deposits during the demonetization period could not be treated as unexplained where the assessee's ...
Income Tax : ITAT Bangalore held that TDS credit cannot be denied merely because it was omitted in the original income tax return. The Tribunal...
Income Tax : ITAT Bangalore held that an assessment order passed in the name of an amalgamated bank after it had ceased to exist is void ab ini...
Income Tax : The Tribunal ruled that filing a return in response to Section 148 does not cure the failure to file the original return within th...
Income Tax : ITAT Bangalore held that Section 154 cannot be invoked to make a fresh disallowance of an asset write-off claim that was never exa...
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...
YouTube video blogging, popularly known as vlogging has reached at the peak of its popularity by now. The trend of googling for a content has shifted to you tube search. Many budding vloggers are making money from YouTube. However most of them are not aware of the tax implications. Let’s try to explore this in […]
Nirmala Devi Vs ITO (ITAT Delhi) In the given case, the Investigation Directorate, Ahmedabad carried out survey u/s 133(A) to examine the misuse of Client Code Modification for tax evasion. The client code of the assessee was SS 493 & as per the Assessing Officer the error by the operator could be in the form […]
Article explains Section 92 of the Income Tax Act, 1961 related to Computation of income from international transaction having regard to arm’s length price, Meaning of Associated Enterprise under section 92A, Meaning of international transaction under Section 92B, Audit under the Transfer Pricing under Section 92E and Report from an accountant to be furnished by […]
Section 269SU has been introduced by the government under Income Tax Act with an intention to promote cashless economy and digital mode of accepting payment. Section 269SU prescribes for accepting payment through certain electronic modes as prescribed in addition to other electronic modes. This article is a detailed discussion on Section 269SU alongwith various practical […]
Start up is the policy measure of the government of India, Ministry of Commerce and Industry to give stimulus and boost to the Innovative Talents to set up the business. These start up needs to get registered with Department of Industrial Policy and Promotion (DIPP) which will grant them a certificate, if all the conditions […]
Article explains Provisions of Slump Sale under the Companies Act, 2013 and Income Tax Act, 1961. It explains Slump Sale through Business Transfer Agreement (BTA), Slump Sale through Scheme of Arrangement, Stamp Duty Chargeable On Business Transfer Agreement. Article explains Sections which deal with Slump sale, Definition of Slump sale, Capital Gain on Slump sale, […]
Budget 2020 has proposed to make dividend income from shares and mutual funds taxable in the hands of the recipient at the applicable income tax slab rates to the individual and abolish the Dividend Distribution Tax levied on dividend income from distribution by the company or mutual funds house. India currently levies Dividend Distribution Tax […]
HPL Additive Ltd Vs DCIT (ITAT Delhi) The issue under consideration is whether the addition made by A.O. u/s 41(1) treating the outstanding as cessation of liability is justified in law? During the course of scrutiny assessment proceedings, assessee was asked to furnish complete details of sundry creditors. After perusing the details, AO noticed that […]
The Finance Bill 2020 has been passed by the Parliament with some major relaxations on March 23, 2020. At the stage of passing of the Bill, there have been amendments made which would directly impact the Non Resident Individual community w.e.f 01st April, 2020. The Article here explains the concept of Residential status, deemed Resident, […]
The reasons recorded for reopening of the assessee are very foundation of the reassessment proceedings. However, same analogy can also be applied in ongoing ‘Limited Scrutiny’ in which the AO has been directed to examine the only specified limited issues and this stand of the assessee can ignite the litigation.
