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Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
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 : 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 : ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
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...
Understand the income tax structure for companies and LLP for FY 2020-21. Learn about the optional tax rate for manufacturing companies and the applicable rates based on net income.
Paradigm Geophysical Pty Ltd. Vs CIT (Delhi High Court) After 01.04.2011, income falling within the scope of Section 44DA (1) of the Act would be excluded from the scope of Section 44BB of the If the income of a non-resident is in the nature of fees for technical services or royalty, it shall be taxable […]
Everyone in India invest in stock market. If people don’t invest then atleast they read about stock market. There are many full time investors and traders also in stock market. People earn, make losses have long term investments in market and many more. This blog comes with the intention of all the taxes applicable on […]
Insider trading, the bane of many Indians who were caught and jailed for their infamous acts is not new to USA. Even in 1700s, Mr. Nilliam Duer, Assistant Secretary, Treasury Department of Federal Government, USA, used his position to guide the purchase of bonds. This article intends to guide its evolution, current rules and show […]
In this article an effort is made to list out and summarize the amendments (from income tax point of view, made by Finance Act 2020. Unless otherwise stated, all the amendments are to be effective from April 1, 2021 i.e. the assessment year 2021-22 relating to the income of the financial year 2020-21 starting from […]
All measures that have been and shall be taken by this Court and by the High Courts, to reduce the need for the physical presence of all stakeholders within court premises and to secure the functioning of courts in consonance with social distancing guidelines and best public health practices shall be deemed to be lawful;
Discover the new income tax rate of 17.01% for manufacturing companies in India. Learn about the eligibility criteria and effective tax liability.
Housing And Urban Development Corporation ltd Vs Add. CIT (Delhi High Court) The pay revision of employees of the appellant, a PSU is due every ten years with the expiry of one wage settlement or agreement. Invariably, there is a time lag between expiry of a wage revision and negotiation of a fresh wage revision. […]
A quick analysis of the CBDT notification dated 31.03.2020 extending the validity of Lower Or Nil Tax Deduction/Collection Certificate for FY 2019-20 Introduction: Due to COVID-19 pandemic, all establishments including the income tax office are not working to full capacity and hence the income tax officers were unable to issue certificates u/s. 197 of the […]
As per section 2(42C) of the Income-tax Act 1961, ‘Slump Sale’ means the transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales. For understanding the term ‘Slump Sale’, it is significant to delve into […]
