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Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
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 Tribunal held that Rule 11UA gives the assessee the exclusive option to choose the valuation method for unquoted shares. While...
Income Tax : The Tribunal held that contradictory third-party statements and unverified allegations cannot form the sole basis for taxing alleg...
Income Tax : The ITAT held that an untested third-party statement, without supporting evidence or cross-examination, cannot form the sole basis...
Income Tax : The ITAT held that registration granted under Section 12AA before completion of assessment entitled the trust to claim exemption f...
Income Tax : The Calcutta High Court set aside the Section 148A(3) order and Section 148 notice after finding that the Assessing Officer failed...
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...
Web hosting charges are not in the nature of royalty and accordingly not covered within the scope of Explanation 2 (iva) of section 9(1)(vi)
Shri Sohanlal Mohanlal Bhandari Vs ACIT (ITAT Pune) Adverting to the facts of the instant case, it is seen from pages 5 and 6 of the impugned order that the assessee acquired land in two parts for construction of a new residential house, viz, the first part of the plot purchased on 11.10.2010 and the […]
Deduction of interest u/s 24B allowable when loan borrowed to repay previous loan taken for the construction of residential unit.
If you are a founder, manager of an NGO and wants to increase flow of donations into your NGO, then this article is for you. It casts a light upon why an NGO must go for registration under Section 12A and 80G of the Income Tax Act. There are certain benefits available for the NGOs […]
NOTIFICATION No. 29/2019 Central Government hereby notifies the undertaking from the date of commencement of the industrial park the 8th June, 2010 being developed and being maintained and operated by M’s Romell Real Estate Pvt. Ltd., for the purposes of the said clause (iii) subject to the terms and conditions mentioned in the Annexure to this notification.
F.No. 225/442/2018/ITA-II Government of India Ministry of Finance Department of Revenue (CBDT) Room No. 245-A, North Block, New Delhi, the 28th of March, 2019 To All Pr. Chief-Commissioners of Income Tax Sir/Madam, Subject: Verification of suspicious transactions in case of struck-off companies-reg. Kindly refer to the above. In the last few years, Register of Companies […]
As intention of assessee to continue the business was clear, business expenditure including, depreciation as claimed by the assessee could not be disallowed due to temporary restrictions.
Office Order No. 74 of 2019 – Allocation/Reallocation of work in the respect of all matters and cases or classes of cases relating to the Benami Transactions (Prohibition) Act, 1988 – reg.
‘Reason to believe’ is a mysterious term. Nobody knows what is reason to believe, or how to judicially determine the issue. As a matter of practice, it is generally not disclosed by the revenue. This article is an effort to understand the provisions related to “reason to believe” and legal lacuna therein. Examination of this […]
WHY TO GET A PAN NUMBER OR PAN CARD? Obtaining PAN is may be optional or voluntary like passport, driving license, Aadhaar etc. However, its use is mandatory at required places, like PAN for high-value financial transactions, Driving License for motor driving, passport for foreign travel and more. For payment of direct taxes To file […]
