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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 : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
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 Budget outlines large-scale manufacturing, infrastructure, and services reforms while maintaining a declining fiscal deficit and debt trajectory.
The faceless assessment added all bank deposits as unexplained income without examining the commission-based business structure. The key takeaway is that ignoring established trade practices and CBDT circulars leads to unsustainable, high-pitched demands.
The Income-tax portal now allows digital filing of condonation requests for delayed trust forms. The key takeaway is that while the process is streamlined, approvals still depend on strict legal and documentary compliance.
Industry expects higher exemption limits, revised slabs, and expanded deductions to increase disposable income and improve voluntary tax compliance.
Failing to report transporter details in your quarterly TDS return was a procedural error, not a tax deduction failure. Since assessee was not liable to deduct tax (thanks to the declarations), Section 40(a)(ia)—which applied only when tax is deductible but not deducted—could not be invoked.
This explains how the new law defines “income” using an inclusive approach rather than a fixed list. The key takeaway is that any real economic gain is taxable unless specifically exempt.
This explains how salary income is taxed under Sections 15 to 19 of the 2025 Act. The key takeaway is that both cash and non-cash employment benefits are comprehensively covered.
The law mandates successor entities to file modified returns within six months of a reorganisation order. This ensures tax assessments align strictly with approved merger or demerger schemes.
Income-tax attachments can halt business and personal finances. Relief depends on identifying the correct legal trigger and pursuing the appropriate statutory remedy.
The court ruled that delayed filing of Form 10 for income accumulation cannot defeat exemption when substantive conditions are met. Rejection of condonation was held unsustainable.
