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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 Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The Gujarat High Court quashed the reinitiated penalty proceedings after the Assessing Officer failed to pass a fresh order within...
Income Tax : The Gujarat High Court held that once the Resolution Plan was approved under Section 31 of the IBC, all tax liabilities not formin...
Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...
Income Tax : The Gujarat High Court set aside the reassessment after finding that the Assessing Officer failed to provide specific reasons for ...
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...
Assessing Officer nor the CIT(A) has sought to establish a direct nexus between assessees professional income from playing cricket along with his expenditure in question claimed u/s.37 of the Act.
This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals) – 13, Chennai dated 15.09.2016 and pertains to the assessment year 2012-13.
The elections provided an opportunity for the officers and staff of the Income tax Department to contribute to the democratic process, both as citizens participating in elections, and as empowered Government officers carrying out their duties with professional competence and dedication
Where An Assessee Makes Investment In The Specified Bonds On Receipt Of Advance As Per An Agreement To Sale, Whether He Is Entitled To Claim The Benefit Under Section 54EC Of The Income Tax Act, 1961? Yes
For the upcoming Union Budget, banks expect the government to boost consumption demand and investment, by way of reduction in corporate as well as personal income tax, and by providing additional deductions under sec 80C and interest on home loans.
In order to ensure that the project Operation Clean Money is given sufficient publicity and wide newspaper & audio-visual media coverage in the regional languages, it is desirable that the Principal Chief Commissioners of Income Tax co-ordinate the coverage in their respective regional languages with the PIB offices at local level.
Apex industry body ASSOCHAM has suggested the Union Government to link the India business process outsourcing promotion scheme (IBPS) with direct tax benefit.
In this very case, the date on which the developer obtained a commencement certificate is not within the accounting year ending 31st March, 1996. At the same time, if one reads the contract as a whole, it is clear that a dichotomy is contemplated between limited Power of Attorney authorising the developer to deal with the property vide para 8 and an irrevocable licence to enter upon the property after the developer obtains the requisite approvals of various authorities.
CA Sharad Jain Introduction: The section 40(a)(ia) of the Income Tax Act (“Act”) was brought on the statute by the Finance (No. 2) Act, 2004, with effect from 1-4-2005 i.e., from Assessment Year 2005-06 with the aim to ensure better compliances of TDS provisions. Since inception, these provisions are being felt by the tax assesses […]
Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 Can help you come clean while contributing to nation building endeavours
