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Income Tax : The article highlights that Indian tax law lacks a statutory formula for allocating cross-border ESOP income, increasing the risk ...
Income Tax : This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE....
Income Tax : Learn how F&O, intraday, and delivery-based share losses should be reported in the income tax return. The guide explains ITR selec...
Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
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 Delhi held that although failure to file Form 10B disentitled the assessee from claiming exemption under Sections 11 and ...
Income Tax : The Tribunal held that the ex gratia received under the BSNL Voluntary Retirement Scheme, 2019 qualified for exemption under Secti...
Income Tax : The ITAT Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The Gujarat High Court quashed the reinitiated penalty proceedings after the Assessing Officer failed to pass a fresh order within...
Income Tax : The Gujarat High Court held that once the Resolution Plan was approved under Section 31 of the IBC, all tax liabilities not formin...
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...
Section 255(3) as amended by the Finance Act, 2016 provides that a single member bench may dispose of a case where the total income as computed by the Assessing Officer does not exceed fifty lakh rupees.
Vide the Finance Act, 2017, section 245Q has been amended so as to enlarge/expand the scope of Authority for Advance Rulings to cover cases relating to central excise, custom duty and service tax and thus have single AAR
Presently, there is no time limit specified by the Act for initiating & completion of TDS proceedings under section 201 of the Act in respect of payments made to nonresidents. Thus, the TDS returns are scrutinized by the assessing officers for past years without any limit
The non-government deductors majorly comprise of non-corporate sector which is not very organized. Approximately less than 6000 assessees are listed companies who take the help of professionals to file statements of TDS/TCS in time.
As per the provisions of section 201(1A), interest is charged on monthly basis. Even for delay in payment or deduction of tax at source by one day, interest is charged for the whole month.
Vodafone India Services Pvt Ltd Vs. DCIT (ITAT Ahmedabad) 97. The question that we really need to address ourselves to is whether the above arrangement constitutes an ‘international transaction’. However, before we do so, it is only appropriate that we take a look at the relevant definitions under the Income Tax Act, 1961. Section 92 […]
Section 195(1) of the Income-tax Act, 1961 provides for the applicability of TDS provisions on any person responsible for paying to a non-resident subject to exceptions as provided in the section.
The Finance Act, 2008 amended the provisions of section 115-O to eliminate the hardship of double taxation arising on account of cascading effect of DDT in case of intercorporate dividend. This is a step in right direction. However, the same mitigates the hardship partially.
The Certificate under section 197 is at present issued with a validity date from the date of issue. Though the assessee is applying in the month of April, i.e., at the beginning of the financial year, the certificate is issued much later.
The Finance Act, 2012 had inserted clause (viib) in section 56(2) to provide that if the consideration for shares is in excess of the fair value of the shares, the aggregate consideration received in excess of the fair value determined as per method prescribed or substantiated
