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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...
What is House Rent Allowance? Employees generally receive a house rent allowance (HRA) from their employers. This is a part of the salary package, in accordance with the terms and conditions of employment. HRA is given to meet the cost of a rented house taken by the employee for his stay.
Has the Contentious Issue of Applicability or Otherwise of TDS on Transmission & Wheeling Charges of Power Transmission Companies u/s 194J, 194I & 194C of the Income Tax Act, 1961, finally Settled???
Taking forward the mission of the Government against black money, particularly undisclosed foreign assets, the Income Tax Department conducted searches on 19th January, 2020, on a group which has been on their radar for having substantial undisclosed foreign assets. The operation covered 13 premises in NCR.
Tax Invasion is a Social Injustice to fellow citizens: Chief Justice of India. Tax Judiciary plays an important role in resource mobilization of the country; Artificial Intelligence is a new hope for Public Institutions; Inaugurates 79th Foundation Day Celebrations and All India Members’ Conference of the Income Tax Appellate Tribunal
CIT Vs Mumbai Metropolitan Region Development Authority (Bombay High Court) In the instant case Tribunal discussed the objects of the assessee i.e.,the respondent and returned a finding of fact that the entire objects are charitable in nature having regard to the meaning of the expression “Charitable purpose” as defined in the Act. Tribunal referred to […]
In the Article earlier displayed @ Income Tax- Machinery Provision vs. Substantive Provision- Analytical Study an attempt has been made to clinically examine and closely understand the recently reported Order of the itat (Ahm.) in the case of Doshi Accounting Services Pvt. Ltd. Vs DCIT (Ahm.) (the Order) This Supplement is intended to add to, also […]
President of India is pleased to appoint Shri Prafulbhai Khodabhai Patel, as Administrator of Union Territory of Dadra and Nagar Haveli and Daman and Diu w.e.f. 26.01.2020 and until further orders.
In the absence of any reasonable cause for failure of assessee in furnishing the information called for by the AO, penalty under section 271(1)(b) was rightly levied by AO for non-compliance of notice issued under section 142(1).
We always noticed that whenever there is a topic of refund in discussion most of the people talk about Income Tax Refund or GST refund but hardly anybody is concern about TDS refund. Some people even not aware about TDS refund. Hence today I am writing this article on TDS refund, what are the related […]
Applicants can now apply for lower/nil deduction certificate from 28th February of the immediately preceding Financial Year. For instance, applications for the certificates for F.Y .2020-21 shall be allowed to be filed on or after 28.02.2020. Instructions No. 01/2020 Dated: 24/01/2020.
