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Latest Articles


ITAT Quashes Section 153C Assessment Due to Lack of Independent Satisfaction

Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...

June 20, 2026 51 Views 0 comment Print

FAQs on intimation under section 143(1) of Income Tax Act, 1961

Income Tax : The Income Tax Department explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect clai...

June 20, 2026 6804 Views 0 comment Print

New Tax Audit Form 26 Expands Stock Reporting Requirements in 2026-27

Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...

June 19, 2026 567 Views 0 comment Print

Applicability of Section 332(1) of Income Tax Act, 2025 for Educational Institutions Covered by Schedule VII Sl. No. 19

Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...

June 19, 2026 156 Views 0 comment Print

Redeemed My ELSS Fund After 3 Years – Is Gain Taxable & How Much?

Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...

June 19, 2026 153 Views 0 comment Print


Latest News


Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

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...

June 19, 2026 147 Views 0 comment Print

Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6157 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 276 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

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...

June 4, 2026 1833 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3900 Views 1 comment Print


Latest Judiciary


ITAT Grants Full TDS Credit Despite Employer’s Failure to Deposit Tax

Income Tax : The Tribunal ruled that tax demand cannot be raised against an employee where TDS was deducted from salary but not deposited by th...

June 20, 2026 Views 0 comment Print

ITAT Deletes Bogus LTCG Addition on Green Crest Shares; Suspicion Cannot Replace Evidence

Income Tax : The Mumbai ITAT deleted the addition alleging bogus long-term capital gains from penny stock transactions after finding no evidenc...

June 20, 2026 9 Views 0 comment Print

TDS Under Section 194J Upheld for Coaching Institute Faculty

Income Tax : ITAT Cochin ruled that faculty engaged by a coaching institute were independent professionals and not employees. It held that TDS ...

June 20, 2026 27 Views 0 comment Print

Bad Debt Deduction Allowed as Effective Write-Off Need Not Close Debtor Account

Income Tax : The Bombay High Court held that bad debt deduction cannot be denied where the debt was effectively written off through accounting ...

June 20, 2026 27 Views 0 comment Print

No Section 270A Penalty if AO Did Not Specify Under-Reporting or Misreporting

Income Tax : The ITAT held that the Assessing Officer must clearly indicate whether the alleged default is under-reporting or misreporting, as ...

June 20, 2026 36 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 49182 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 753 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 591 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 228 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 183 Views 0 comment Print


Income Tax Returns (ITRs)-Forms, Due Dates and Late Fees

August 8, 2019 31224 Views 1 comment Print

The last date for filing Income Tax Return is July 31st of every year (Extended up to 31st August 2019 for Assessment Year 2019-2020 and with few certain exceptions as provided above), which can be belatedly filed up to March 31. For example, Income Tax Returns for  Assessment Year 2019-20 (Financial Year 2018-2019), can be filed belatedly till 31st March 2020.

Denial of deduction u/s 10(23C)(iiiad) on account of running school for profit motive

August 8, 2019 1755 Views 0 comment Print

Sharing of the profit or income under the agreement between the parties and assessee and 80% of the income was going to the commercial entities clearly established the intention of the parties in this arrangements being for profit were not solely for providing education, therefore, the benefit of Section 10(23C)(iiiad) was not available to assessee.

Govt repeals 58 Act and amends 2 Acts (Amends section 54GA of Income Tax Act, 1961)

August 8, 2019 1503 Views 0 comment Print

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 8th August, 2019 The following Act of Parliament received the assent of the President on the 8th August, 2019, and is hereby published for general information:— THE REPEALING AND AMENDING ACT, 2019 NO. 31 OF 2019 [8th August, 2019.] An Act to repeal certain enactments […]

Demise of CA in 2016 not a reasonable cause for no Audit of Books for A.Y. 2009-10

August 8, 2019 1020 Views 0 comment Print

Sri. Abdul Azeez M Vs ACIT (ITAT Cochin) Admittedly in this case, no audit report has been filed for assessment year 2009-2010. It is the contention of the assessee that there was a reasonable cause as mandated u/s 273B of the I.T.Act. It was submitted by the learned AR that consequent to search and seizure […]

No TDS on commission payment made to overseas agents

August 8, 2019 30966 Views 0 comment Print

When the commission paid to the non-resident agents was neither received or deemed to be received in India nor accrued or was deemed to accrue in India, no income was chargeable to tax under the provisions of the Act. When the payment made by assessee to the overseas agent for services rendered abroad was not income chargeable to tax in India, there was no obligation cast upon assessee to deduct tax at source under section 195 and consequently, the provisions of section 40(a)(ia) would not be attracted. 

Section 80IBA- 100% Tax deduction on Affordable House construction Income

August 8, 2019 23979 Views 7 comments Print

CBDT has inserted section 80IBA by Finance Act, 2016.The provisions of this sections are designed in such way that, it will help to achieve a goal of Housing for All by 31 March 2022.

Addition for cash found with others cannot be added to Appellant’s income in absence of reasonable nexus

August 8, 2019 2571 Views 0 comment Print

Dharmraj Prasad Bibhuti Vs ITAT, Patna (Patna High Court) Section 132 (4A) of the I.T. Act provides that where any books of Accounts, other documents, money etc. is found in possession or control of any person in course of search, it may be presumed that the same belongs to such person. It is apparent from […]

TCS – Tax Collection at Source – A Complete Guide

August 7, 2019 85593 Views 2 comments Print

Tax Collection at Source, more popularly known as TCS, provisions mandate the seller to collect tax from the buyer and deposit the same to the Government. The provision of tax collection at source is contained under section 206C of the Income Tax Act, 1961 and the same are explained briefly in the current article. Guidelines […]

Section 271C applies to both failure to deduct and pay TDS

August 7, 2019 2844 Views 0 comment Print

Since assessee had deducted the TDS, but not remitted to Government account and for that he had not given any satisfactory explanation either before AO or before CIT(A), therefore, penalty under section 271C was justified.

Tax Audit Under Section 44AB of Income Tax Act, 1961

August 7, 2019 44151 Views 4 comments Print

A Tax Audit is an audit, made compulsory by the Income Tax Act, if the annual gross turnover/receipts of the assessee exceed the specified limit. Tax audit is conducted in Sec 44AB of the Income Tax Act by a Chartered Accountant. Simply Tax Audit means, an audit of matters related to tax. Applicability of tax […]

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