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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 : ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a diff...
Income Tax : ITAT Delhi held that where the variation between the issue price and fair market value is within the 10% safe harbour under Rule 1...
Income Tax : ITAT Delhi held that a notice under Section 143(2) issued by a non-jurisdictional Assessing Officer without a valid transfer order...
Income Tax : The ITAT held that cash deposited during demonetization was adequately explained through instrument charges consistently disclosed...
Income Tax : The ITAT held that advertisement and brand promotion expenses incurred by the distributor were for its own business and were not s...
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...
In the case of The Income-tax Officer vs M/s. Shree Kastbhanjan Dev Developers, the Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) proclaimed in its recent order that firm cannot be assessed for unexplained cash credits in respect of capital introduction by its partner.
The Honorable Finance Minister has, in para 176 of his Budget Speech [Union Budget 2016-17] stated that non-residents without PAN are currently subjected to a higher rate of TDS
The Finance Act (No. 2), 2009 raised the limit to pay advance tax under section 208 to Rs. 10,000. Considering the inflationary conditions prevailing in the country, it is felt that the said limit needs to be revised upwards so that the amount payable in one installment of the advance tax exceeds at least Rs. 5,000.
Punjab & Haryana High Court upholds ITAT decision deleting share transaction addition in Prem Pal Gandhi case; finds no substantial question of law.
With a view to create a mechanism for self-reporting of estimates of current income, tax payments and advance tax liability by companies and persons to whom tax audit is applicable, on voluntary compliance basis, the government has proposed to introduce new Rule 39A and Form No. 28AA in the Income-tax Rules, 1962 (the Rules).
Central Government hereby notifies for the purposes of section 10(46) the Central Registry for Securitization Asset Reconstruction and Security Interest of India, a body set up under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, in respect of the following specified income arising to that body, namely:—
ICAI announces Transition Scheme for students of Common Proficiency Course, Intermediate (IPC) Course and Final (old) Course along with the Conversion Fees for Switching Over to Revised Scheme
It is suggested that the TDS limit for payment of professional or technical fees under section 194J may be increased from Rs. 30000 to Rs. 100000.
ACIT Vs. Sh. Mohinder Singh (ITAT Chandigarh) Nature of receipt of income over and above the registered sale consideration in the hands of seller The nature of receipt of the income over and above the registered sale consideration in the hands of seller would not fall under the head ‘Capital Gains’ but ‘income from other […]
S.O. 282(E).—In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance
