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Latest Articles


FAQs on Higher rate of TDS under section 206AA

Income Tax : This guide explains when Section 206AA requires TDS at a higher rate due to non-furnishing of PAN and the applicable exceptions. I...

June 23, 2026 5061 Views 0 comment Print

FAQs on TDS on Rent Under Section 194-I & Section 194-IB

Income Tax : Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and complia...

June 23, 2026 41235 Views 0 comment Print

FAQs on TDS or TCS on sale or Purchase of Goods

Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...

June 23, 2026 4917 Views 0 comment Print

FAQs on Maintenance of books of accounts under Income Tax Act, 1961

Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...

June 23, 2026 6006 Views 0 comment Print

FAQs on Section 80TTA and Section 80TTB deduction

Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...

June 23, 2026 8211 Views 0 comment Print


Latest News


Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

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...

June 19, 2026 207 Views 0 comment Print

Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6184 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 285 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

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...

June 4, 2026 1866 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3957 Views 1 comment Print


Latest Judiciary


Insurance Premium Collections Cannot Be Taxed as Unexplained Money Without Contrary Evidence: ITAT Agra

Income Tax : The ITAT upheld deletion of the Section 69A addition after finding that the bank credits were satisfactorily explained as insuranc...

June 23, 2026 42 Views 0 comment Print

ITAT Quashes Assessment as Final Order Was Passed Beyond Section 144C(13) Time Limit

Income Tax : Tribunal held that final assessment order was time-barred because it was passed after mandatory period prescribed under Section 14...

June 23, 2026 45 Views 0 comment Print

ITAT Quashes ₹85 Crore TP Adjustment as TPO Order Lacked Digital Signature

Income Tax : The ITAT held that a transfer pricing order issued without authentication or a digital signature is invalid in law. Consequently, ...

June 23, 2026 63 Views 0 comment Print

Opening Cash Balance Cannot Be Treated Unexplained Solely for Non-Disclosure

Income Tax : The ITAT held that an opening cash balance cannot be treated as unexplained merely because the previous year's income tax return r...

June 23, 2026 891 Views 0 comment Print

Interest Disallowance Remanded as AO Made Addition Without Proper Verification: ITAT Ranchi

Income Tax : The ITAT held that the Assessing Officer disallowed interest expenditure without adequately verifying the records or confronting t...

June 23, 2026 57 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 49647 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 792 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 624 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 240 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 204 Views 0 comment Print


Tax planning opportunity by SC?

December 15, 2017 2148 Views 0 comment Print

The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existence of following; The deduction claimed by the Assessee must be otherwise allowable under the other provisions of the Act.

Assessee registered under STPI as a 100% EOU can claim deduction u/s 10B despite non approval by Board as 100% EOU

December 15, 2017 2118 Views 0 comment Print

While dismissing revenue’s appeal, the Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has declared that assessee is entitled for deduction under Section 10B of the Income Tax Act 1961 even though it registered as a hundred percent Export Oriented Undertaking (EOU) under the Software Technology Park of India (STPI).

Mere instance of reduction in shares of profit of a partner resulting in increase in share of profit of another by itself will not constitute a ‘gift’

December 15, 2017 2307 Views 0 comment Print

A division bench of the Kerala High Court recently held that a mere reduction in the shares of one partner, resulting in proportionate increase of shares of another partner would constitute a gift for the purpose of taxation under Section 4 (1) (a) of the Income Tax Act.

SSI benefit cannot be availed by an undertakings which do not continue as SSI: SC

December 15, 2017 1869 Views 0 comment Print

Incentive meant for small scale industrial undertakings cannot be availed by industrial undertakings which do not continue as small scale industrial undertakings during the relevant period, the bench held.

Advance payment of Duty in PLA account eligible for deduction: SC

December 15, 2017 2628 Views 0 comment Print

Advance deposit of central excise duty constitutes actual payment of duty within the meaning of Section 43B of the Central Excise Act and, therefore, the assessee is entitled to the benefit of deduction of the said amount.

Section 72A(7) Hospitals can’t be treated as an Industrial Undertaking for Set Off of Unabsorbed Depreciation

December 15, 2017 6336 Views 0 comment Print

The Bangalore bench of Income Tax Appellate Tribunal recently rejected the plea for setting off of unabsorbed depreciation since Hospitals can’t be treated as an industrial undertaking for the purpose of section Section 72A(7) of the Income Tax Act, 1961.

U S Taxation Vs Bangladesh taxation – Income tax, tax incentives and other information

December 15, 2017 1494 Views 1 comment Print

Sonar Bangla resonates with Bengal as a historical entity and Bangladesh, both in Commerce and Cricket with its exceptional performance has enabled us to remember its gigantic growth. When one looks at any good ready-made in U.S.A. it is an open secret that Bangladesh with its visible presence in all brick and mortar shops has […]

Deduction u/s 80P eligible on ‘interest’ earned by assessee on deposits placed with SBI by SBI Officers Co-op. Credit Society

December 15, 2017 6807 Views 0 comment Print

SBI Officers Coop. Credit Society Ltd Vs. ITO (ITAT Hyderabad) This is assessee’s appeal for the A.Y 2012-13. In this appeal, the assessee is aggrieved by the order of the learned CIT (A)-10, Hyderabad, dated 2.11.2016 confirming the dis allowance of Rs. 77,44,295 claimed by the assessee as a deduction u/s 80P of the Act. […]

Notice for reopening U/s. 148 cannot be issued in absence of fresh material

December 15, 2017 3753 Views 0 comment Print

An issue which had been examined in detail during original assessment itself, could not be re-examined in exercise of powers of reassessment, therefore, notice under section 148 was set aside.

Extension of ad-hoc appointment of 60 IRS officers till 31.03.2018

December 15, 2017 1725 Views 0 comment Print

ORDER NO. 214 OF 2017 President is pleased to extend the ad-hoc appointment of the following IRS officers to the grade of Joint Commissioner of Income Tax from 16.10.2017 to 31.03.2018: –

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