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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...
(a) long-term capital gain out of investment in an organisation for skill development; (b) dividend and royalty from skill development venture supported or funded by National Skill Development Corporation; (c) interest on loans to Institutions for skill development; (d) interest earned on fixed deposits with banks; and (e) amount received in the form of Government grants.
The only issue that is to be decided is whether the date of allotment of the flat or the date of possession of the flat by the assessee should be considered as the date for computing the holding period of 36 months.
These days, in the era of e-filing of Income Tax Returns, there remains heavy pressure on e-filing portal around 30 September. It is being seen in last two years, the date of 30th September for filing of returns has been enhanced due to practical problems faced by assessees.
Uur Indian Constitution has given freedom of speech, residence, etc. to every citizen. Similarly, following the tax laws is also mentioned in the constitution. Every taxpayer should follow the tax laws applicable to him. But sometimes it happens that the taxpayer evades tax, commits an error while maintaining books, or he may misunderstand a provision of law or there are disputes on certain provisions.
Bombay HC in the above cited case held that when the assessee’s volume of purchasing and selling shares is quite high with higher frequency of buying and selling with holding 75 days or less then its prima facie indicate that it is engaged in trading of shares unless assessee provide a sound reasoning that why transactions should not be considered as trading activity.
There is a possibility of countermeasures being adopted by foreign countries against the unilateral levy by India. For example, if US Treasury is of the opinion that these actions potentially undermine U.S. rights under the tax treaty, and lead to discriminatory treatment
The Article discusses Legislative History behind enactment of Tax Audit Provisions , Imposition of Restriction on number of Such Audit to be Conducted by Chartered Accountants (CAs) by Institute of Chartered Accountant of India (ICAI), Decision of Honorable High Court and Supreme court on the issue, Report of CAG on Violation of ICAI guideline , Disciplinary Proceeding by ICAI against erring members and Stay by Kerala High Court against Such action till disposal of their representation.
The Government has taken various measures to effectively deal with the issue of black money, particularly black money stashed away abroad. Such measures include policy-level initiatives, more effective enforcement action on the ground, putting in place robust legislative and administrative frameworks
The declarant is hereby directed to make the payment of sum payable as per column (5) of the above table, as specified below:- (i) an amount not less than twenty-five per cent. of the sum payable on or before 30th day of November, 2016;
The Centralized Processing Cell (TDS) has provided an integrated platform for taxpayers, deductors & assessing officer. The objective of the functionality is to provide the taxpaying citizen to report missing TDS credits in their 26AS account directly to the deductors and assessing officers for its quick resolution.
