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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
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 : 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 Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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 President has assented The Banning of Unregulated Deposit Schemes Bill, 2019, which was passed on the 13th day of February, 2019 in the House of the People; The purpose of Banning of Unregulated Deposit Schemes Ordinance, 2019 is to provide for a comprehensive mechanism to ban the unregulated deposit schemes and to protect the interest […]
, Unregulated Deposits Scheme Ordinance is an Ordinance to ban unregulated deposits as well as to protect the interest of Depositors. This ordinance was introduced on 21-Feb-2019. Everyone needs to study this ordinance of deposit and protect himself rather than believing on fake news.
We know that in Finance Bill 2019 tax rate for FY 2019-20 for individuals / HUF has not been changed except the fact that rebate u/s 87A has revised to Rs 12,500 if Total Income is upto Rs 5,00,000 (previously it was Rs 2500 if total Income is upto Rs 3,50,000). Tax rates for Individuals […]
The Central Board of Indirect Taxes and Customs (CBIC) constitutes three Working Groups to study and recommend measures to facilitate trade, promote exports and improve compliance.
Filing of Revise Return us 139 (5) – कई बार इनकम टैक्स रिटर्न को फाइल करते समय कुछ गलती हो जाती है, या कुछ Item Return में नहीं दिखाते, या कभी कोई Deduction क्लेम करना भूल जाते है, या कई बार कुछ Information Return फाइल करने के बाद Knowledge में आती है, तो ऐसी स्थित्ति […]
Introduction: – 1. On 21.02.2019, Govt. Of India has brought Banning of Unregulated Deposit Schemes Ordinance 2019 with following objectives: – a) For banning of unregulated deposits schemes; b) To protect the interest of depositors; and c) Other matters relating to or connected to the above two objectives 2. The Banning of Unregulated Deposit Schemes […]
Government has issued The Banning of Unregulated Deposit Schemes Ordinance 2019 on 21.02.2019. Pursuant to this ordinance now any Individual or group of individuals can’t take any deposit or loan from any person other than relatives and Partnership firm can take deposit or loan from relatives of partner or partners only.
The Finance Act 2016, introduced equalization levy of 6% to be charged from amounts paid for specified services to a Non- resident not having any permanent establishment in India. This equalization levy (EL) is independent of income tax provisions and is covered under Chapter VIII of the Finance Act 2016. 1. Why Equalisation Levy was […]
Refund claim of Vodafone’s worth Rs. 4759.74 Crores was rightly rejected as Revenue had the right to adjust the substantial outstanding demands against the refunds that arose but had not yet been determined due to ongoing scrutiny proceedings.
Income on sale of prepaid cards to the extent of unutilized talk time did not accrue as income in the year of sale. If assessee had failed to perform the services as promised, it would be liable and under an obligation to refund the advance payment received under the ordinary law of contract or special enactments, like the Consumer Protection Act.
