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Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Learn how taxpayers can set off losses against taxable income and carry forward unadjusted losses under the Income-tax Act. The FA...
Income Tax : Learn when the Income-tax Act requires another person's income to be included in your taxable income. The FAQs explain clubbing pr...
Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...
Income Tax : Learn when monetary, immovable, and movable property gifts become taxable under the Income-tax Act. The FAQs explain exemptions, t...
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 a single satisfaction note covering multiple assessment years without identifying year-wise incriminating...
Income Tax : The ITAT Delhi held that a single consolidated satisfaction note covering multiple assessment years without year-wise incriminatin...
Income Tax : The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an ...
Income Tax : Bangalore ITAT held that customer deposits representing sale proceeds could not be taxed in full as unexplained money under Sectio...
Income Tax : Bangalore ITAT deleted the addition under Section 69A after holding that the assessee had satisfactorily explained the source of c...
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...
It is suggested that for setting off of MAT credit, a fresh period of 10 years be allowed after the completion of period of exemption under section 10A to 10C and deduction under section 80-IA to 80-IE under normal provisions of the Act provided it is the exclusive business of the assessee.
The computation of book profit under section 115JB is a complicated and vexed issue with diverse interpretations possible on various issues. These issues need to be clarified to reduce litigation before the appellate authorities, which is one of the aims of the Government.
MAT-Ind AS Committee placed its report dated 17 June 2017 providing recommendations on proposed amendments to the provisions of the Section 115JB of the Act in respect of Ind AS Compliant Companies.
As per the provisions of Section 115-O of the Act, the domestic holding company will not have to pay DDT on dividends paid to its shareholders to the extent it has received dividends from its subsidiary company on which DDT has been paid by the subsidiary.
In view of the concerns faced by foreign investors after introduction of section 115QA, suitable amendments may be carried out in the Income-tax Act, 1961 so that foreign investors do not have to pay tax when their holding results in losses only due to foreign exchange fluctuation.
As per the amendment to Explanation (ii) to section 115QA(1), (effective from 1.6.16), consideration received by company on issue of shares to be bought back is to be determined as per the Rules to be prescribed.
The Finance Act, 2016 inserted section 115TCA to provide for transition of securitisation trusts from distribution tax regime to complete pass through regime (with TDS on distributions). However, the cut-off date between old and new regime is not clear.
After search, as per amended provision by the Finance Act 2010, where assessee files application with Settlement Commission for settlement of his cases, the cash seized during search be permitted to be adjusted against the tax due as per the offer made by the assessee in the settlement application.
The Finance Act, 2016 has inserted section 115BBF to tax royalty income derived from worldwide exploitation of patents developed and registered in India @ 10%. It is a welcome move and would greatly boost the research and innovation environment in the country.
Since block assessment has been discontinued, there is litigation as regards the year of tax ability of certain income/ assets discovered in search.
