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Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...
Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...
Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...
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 Pune upheld the deduction under Section 10AA after finding that the Assessing Officer had not established that the SEZ un...
Income Tax : The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority ...
Income Tax : The Mumbai ITAT upheld deletion of notional interest on interest-free advances to a subsidiary, finding the issue consistently dec...
Income Tax : The ITAT Pune held that deletion of the addition was premature as the source of cash payments reflected in seized diaries had not ...
Income Tax : The ITAT Hyderabad upheld deletion of a ₹68.75 crore Section 68 addition after finding that the partner had established the sour...
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...
Tax rates for individuals having taxable income from Rs. 2 cr – 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and Rs. 5 […]
Union Budget proposes measures to deepen Corporate Debt markets Government will work with regulators RBI/SEBI to enable stock exchanges to allow AA rated bonds as collaterals A number of measures to further deepen bond markets have been proposed by the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Union Budget […]
INEQUITABLE AGREEMENT My builder forced me to pay ‘Penal interest’. But, he does not pay any compensation for delayed completion. What to do? As per the agreement, if the Builder abandons the whole or part of the scheme, the builders liability is limited only to refund of the Amount paid by the allottee without interest […]
Loss occurred to assessee as a result of its activity of trading in shares (a loss arising from the business of speculation) was not capable of being set off against the profits which it had earned against the business of futures and options since the latter did not constitute profits and gains of a speculative business.
Initiation of assessment proceedings under section 153C in case of other person, i.e., assessee without issuing proper satisfaction note by AO of the searched person in favour of AO having jurisdiction of such other person, the proceedings initiated u/s 153C was void-ab-initio.
Addition under section 68 on account of bogus capital gains from penny stocks was not justified as AO had not conducted any independent and separate enquiry to prove that the transactions carried out by the assessee were not genuine or that the documents were not authentic and assessee had successfully discharged the onus cast upon him by provisions of section 68.
Since no incriminating material was unearthed by AO during the course of search operation under section 132, therefore no addition could be made during the relevant assessment year under section 153A by reopening the assessment on the matter, which was examined earlier during original assessment.
TDS/ TCS taxpayers & Temp ID holder can now add Bank Account details through Non-Core Amendment of Registration. This will enable them to file refund application on GST Portal.
Will the new Finance Minister cut tax rate for large companies from the current 30 per cent to 25 per cent in the budget 2019 The first full time woman Finance Minister (FM) will present her maiden budget on 5th of July, 2019. All the people of the country look forward to the FM as a […]
The Survey points-out that major hurdle to economic growth and social well-being can be stabilized through a relatively small investment in the legal system.
