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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...
The Income Tax Department has been at the forefront of using technology in implementing its – e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and alert to attempts made by fraudsters to spoof the Department’s identity to send phishing emails.
What is apparent is not always real. To reach out to the real story, one has to undertake the scavenging exercise. This daunting task undertaken by ITAT Amritsar in a recent case pronounced on 05-02-2016 to resolve the mayhem when survey documents along with auditors qualifications had apparently almost maimed the assessee.
The Budget Session of Parliament will commence on February 23 that will focus largely on the financial business of the government, which will present the general budget on February 29. The budget session of parliament will commence on February 23.
Delhi High Court held In the case of Rakesh Kumar Garg & others vs. CCE that the SCN which proposed the penalty would have to make out a case for how Rule 26 is attracted. In the present case, apart from merely stating that the three Appellants were in control of the affairs
ITAT Delhi held In the case of G.R. Commercial Pvt. Ltd. vs. ITO that the Supreme Court in the case of Chennai Properties and Investments Ltd. vs CIT (2015) 373 ITR 673 (SC) after considering all previous judgments of Supreme Court
ITAT Lucknow held In the case of ACIT vs. M/s J. K. Synthetics Ltd. that CIT (A) correctly observed that there are many judgments in which, it was held that if there is change in the method of valuation of closing stock due to mandatory requirement and that change has been consistently followed by the assessee, no addition is called for.
ITAT Delhi held In the case of ACIT vs. M/s Citi Financial Consumer Finance India Ltd. that this issue is squarely covered by assessee’s own case in ITA No. 4776/Del/2010 vide order dated 20.02.2015, for the assessment year 2006-07 passed by this Bench of the Tribunal in which it was held that
TDS Instruction No . 51 Request has been received from field formations and tax payers to provide functionality for issue of online certificate u/s 195(2) and 195(3) for lower / no deduction as manual certificates were not being considered during processing of TDS statements by CPC TDS.
Notification No. 2/2016 a. The email address of the assessee to be used for the purpose of electronic communication shall be as specified in Sub-Clause (b)(i) or(ii) or(iii) of Sub Rule 2 of Rule 127 of Income Tax Rules 1962. b. The assessee may furnish a letter to the Assessing Officer (hereinafter referred to as “AO”) providing any other email address as specified in Sub-Clause (b)(iv) of Sub Rule 2 of Rule 127 of Income Tax Rules 1962.The email address so provided shall be the primary email address for the purpose of issuing electronic communication under this notification once such letter is received by the AO. Otherwise, the existing email as per (a) above would be the primary email.
Of late, the issue regarding the taxability of the remuneration and living allowance, etc. payable to a foreign technician on deputation in India under a Technical Collaboration or Assistance Agreement, has become quite controversial. At the root of this controversy, are the provisions of S. 9(1)(ii) of the Income-Tax Act, 1961 (the Act). Section 9 of the Act deals with “Income deemed to accrue or arise in India”.
