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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...
Central Board of Direct Taxes hereby extends the time for issuance of acknowledgment in Form-2 as prescribed in sub-rule (3) of rule 4 of the Rules from 15 days to 30 days in respect of the declarations filed under Income Declaration Scheme, 2016 in the month of July, 2016.
(a) grant from Central Government; (b) grant from State Government; and (c) consent fee for permission for setting up industry in the state of Haryana.
The ITAT Mumbai in the above cited case held that reimbursement of secondment expensed by assessee to the company seconding its employees to assessee is not subject to TDS as the employer-employee relationship for all legal purposes subsist between seconding company and seconded employees for which seconding company is liable
With a view to facilitate the splitting up or the reconstruction of erstwhile public sector companies and to give effect to the conditions attached to the transfer of shares by the Government, there is a need to bring these types of splitting up or the reconstruction within the scope of definition of the term demerger.
Order No. 143 of 2016-The following postings / transfers in the grade of Commissioner of Income Tax (Local Change) are, hereby, ordered with immediate effect and until further orders:-
In this article we will explain about the provisions relating to penalty for failure to keep and maintain documents in respect of specified domestic transactions. However, before understanding the penalty provisions, one should have an overview of the basic provisions of transfer pricing in relation to specified domestic transactions.
Protocol Amending The Convention Between The Government Of The Republic Of India And The Government Of Mauritius For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income And Capital Gains, And For The Encouragement Of Mutual Trade And Investment, Signed At Port Louis On 24th August 1982
Electronic Verification Code (EVC) can be generated by pre-validating your Bank Account on the e-Filing portal. Punjab National Bank and United Bank of India have launched this facility which will facilitate the account holders, who may not have a NetBanking account, to e-verify their return. Other banks are expected to launch this facility.
Section 79:-According to the income tax provisions, a closely held company is not eligible to carry forward and set off its losses if 51 % or more of the voting power in the year in which the set-off is claimed is not beneficially held by the same shareholders who beneficially held 51% or more voting power on the last day of the previous year in which the loss was incurred.
1. (1) These rules may be called the Income-tax (20th Amendment) Rules, 2016. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, in the Appendix II, in Form 10A,—(i) for item 4, following item shall be substituted, namely:—
