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Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...
Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...
Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...
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 held that reassessment proceedings were invalid because the Revenue failed to provide the mandatory approval under Sectio...
Income Tax : The ITAT held that reimbursement of travel and conveyance expenses to foreign associated enterprises was not liable for disallowan...
Income Tax : The ITAT held that the entire value of purchases from an alleged accommodation entry provider cannot be added as income. It direct...
Income Tax : The ITAT upheld deletion of a ₹6.25 crore addition after finding that the loans were received and repaid through banking channel...
Income Tax : The High Court set aside the assessment order, demand notice, and bank attachment after finding that the proceedings were complete...
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 OECD has published updated versions of transfer pricing country profiles (TPCP), reflecting the current transfer pricing legislation and practices of 31 participating countries. The country profiles contain up-to-date and harmonised information on key aspects of transfer pricing legislation, provided by countries themselves.
It is hereby notified for general information that the organization M/s International Crops Research Institute for the Semi-Arid Tropics (`ICRISAT) (PAN:- AAAJIO282L) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from Assessment year 2017-2018 onwards in the category of `Scientific Research Association’,
CBI has registered 77 cases and 07 Preliminary Enquiries during post demonetization relating to exchange of demonetised currency in various departments/agencies including Banks, Post Offices, Railways, Insurance companies etc.
The question raised in this batch of Appeals is as to whether the instructions/circular issued by the Central Board of Direct Taxes on 9.2.2011 will have retrospective operation or not.
Addition on account of discount extended to prepaid distributors Third proviso to section 194H will get attracted only when the nature of payment is “commission or brokerage”. Parties before us agree that majorly the distribution of products by BSNL and MTNL takes place through Public Call Office franchisees since this was an infrastructure existing with […]
It is abundantly clear that the very basis of the penalty proceedings was set aside by the Tribunal in an appeal against the assessment order. There was no addition of income. On the contrary, the case of the assessee, which was negated by the assessing officer of carrying on the business of draft discounting, is accepted by the Tribunal. Explanation 1 to section 271(1)(c) of the Act, in the facts and circumstances of the present case, would not arise.
Order No. 196 of 2017- President is pleased to appoint following Income Tax Officers, presently posted in region shown against their names, in the grade of Assistant Commissioner of Income Tax (ACIT) on ad-hoc basis for the vacancy year 2016-17 in the Level 10 in the pay matrix Rs. 56100-177500/-
Annual value of a house could be taken as nil only when either the house is occupied for own residence or could not be occupied by the owner, if he is residing in a building not owned by him at other place due to his employment, business or profession carried out at other place.
The Income Tax Act, in particular Section 90 thereof, does not speak of the concept of a PE. This is a creation only of the DTAA. By virtue of Article 7(1) of the DTAA, the business income of companies which are incorporated in the US will be taxable only in the US, unless it is found that they were PEs in India
Anything which can properly be described as income is taxable under the Act unless expressly exempted. Following the above principle, Court held that interest earned by Assessee is clearly its income and unless it can be shown that any provision like Section 10 has exempted it from tax, it will be taxable.
