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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 Pune upheld the deduction under Section 10AA after finding that the Assessing Officer had not established that the SEZ un...
Income Tax : The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority ...
Income Tax : The Mumbai ITAT upheld deletion of notional interest on interest-free advances to a subsidiary, finding the issue consistently dec...
Income Tax : The ITAT Pune held that deletion of the addition was premature as the source of cash payments reflected in seized diaries had not ...
Income Tax : The ITAT Hyderabad upheld deletion of a ₹68.75 crore Section 68 addition after finding that the partner had established the sour...
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...
Where assessee made donation to political parties, same was not claimed as a deduction nor claimed by filing a revised return nor made a claim before the AO but same was claimed first time before the CIT(A), assessee was entitled to deduction.
Income of the assessee constituted earning outside India while the assessee was an NRI and mere receipt of the said sum in the assessee’s NRE account would not subject it to tax under the 1961 Act.
Determination of Fair Market Value for share other than quoted share. 11UAA. For the purposes of section 50CA, the fair market value of the share of a company other than a quoted share, shall be determined in the manner provided in sub-clause (b) or sub-clause(c),as the case may be,
These appeals preferred by the assessee emanates from the order of learned Commissioner (Appeals)-2, Jodhpur for assessment year 2008-09 vide order dated 19-11-2015; assessment year 2010-11 vide order dated 20-11-2015
Widening of tax base remains one of the important policy objectives of CBDT. Various steps have been taken to increase the tax base and the same have shown appreciable results. It is quite encouraging to note that almost 91 Iakh new taxpayers were added during FY 2016-17.
Where the impugned amount is not claimed by the assessee by way of deduction under sections 30 to 38 of the Act while computing the income of the assessee under the head Profits and gains of business or profession the question of making any dis allowance under section 40(a)(ia) of the Act will not arise
Hindustan Coca Cola Beverages Pvt. Ltd Vs. CIT (Rajasthan High Court) Issues Under Consideration (i) Whether in the facts and circumstances of the case the learned Tribunal was right and justified in holding that assessee was liable to withhold tax at source under S.194H of the Income Tax Act, 1961 amounting to Rs.19,74,842/- (including interest) […]
In this appeal, the assessee calls in question the order passed by the Income Tax Appellate Tribunal, Cochin Bench in I.T.A.No.375/14 for the assessment year 2005-2006.
CIT (Exemptions) Vs. Lord Krishna Charitable Trust (Punjab and Haryana High Court) Section 12AA prescribes the scope and ambit of the enquiry that the CIT is authorized to carry out at the time of grant of registration to a trust or institution. The scope of the enquiry revolves around the nature of the objects and […]
CBDT Central Action Plan for 2017- 18 deals with Budget Collection, Reduction and Cash Collection Out Of Arrear Demand, Litigation Management, Service Delivery and Redressal of Grievances, Assessment Units (Including International Taxation & Transfer Pricing, Exemptions) International Taxation & Transfer Pricing, TDS Units, Intelligence and Criminal Investigation, Exchange of Information under Tax Treaties, Computer Operations, Exemptions Related Work, CIT (Audit), Prosecution & Compounding of Offences (In Respect Of Prosecution U/S 276cc) and Communication Strategy.
