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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
The scheme allows eligible taxpayers to declare undisclosed foreign income or assets with payment of prescribed dues and limited immunity under the Black Money law.
The Finance Bill, 2026 proposes immunity from prosecution for undisclosed foreign assets below ₹20 lakh, excluding immovable property. The key takeaway is reduced criminal exposure for minor and inadvertent lapses.
The amendment replaces the fund-specific due date with the return-filing deadline for claiming deductions. Employers gain greater compliance flexibility going forward.
The Finance Bill, 2026 continues the same tax slabs and rates as the previous year. Individuals, companies and other entities see no increase in income-tax burden.
The Budget introduces a new tax law, automated processes, and rationalised penalties. The key takeaway is faster compliance with fewer disputes.
The Budget accelerates migration to the Income Tax Act, 2025 with wide procedural and structural changes effective from April 2026.
The rules clarify that special-rate incomes are excluded to test the ₹12 lakh limit, but rebate cannot reduce tax on STCG. The takeaway is clear separation between normal income rebate and special-rate taxation.
Budget 2026 focuses on easing compliance and expanding export opportunities for MSMEs. Simpler tax rules and removal of export caps aim to unlock growth and competitiveness.
The proposed changes consolidate all IT and ITeS activities into a single category with a lower, uniform margin and a much higher turnover threshold. The key takeaway is reduced litigation risk and greater pricing certainty for large and mid-sized IT service providers.
The Bill introduces unified service classification, higher safe harbour limits, and automated approvals. The key takeaway is reduced litigation and greater tax certainty for IT and ITES companies.
