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Latest Articles


Income-tax Act 2025: New TDS and TCS Forms Every Deductor Must Know

Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...

June 25, 2026 Views 0 comment Print

Tax Deduction/Collection Account Number (TAN)

Income Tax : Learn what TAN is, who must obtain it, how to apply, and where it must be quoted under the Income-tax Act. The guide also explains...

June 25, 2026 308261 Views 23 comments Print

Income Tax audit under section 44AB​: FAQs

Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...

June 25, 2026 1274255 Views 54 comments Print

Tax Relief up to 12 Lakh in New Tax Regime, Yet ITR Filing is Still Mandatory

Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...

June 24, 2026 972 Views 8 comments Print

11 Situations Where Filing ITR Is Mandatory for AY 2026-27

Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...

June 24, 2026 2772 Views 0 comment Print


Latest News


Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

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...

June 19, 2026 225 Views 0 comment Print

Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6202 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 291 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

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...

June 4, 2026 1890 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3972 Views 1 comment Print


Latest Judiciary


ITAT Delhi Quashes Assessment as It Was Passed on Non-Existent Company

Income Tax : ITAT Delhi held that an assessment framed after an approved merger in the name of the amalgamating company was without jurisdictio...

June 25, 2026 51 Views 0 comment Print

ESOP Discount Allowed as Karnataka HC Precedent Covered Issue: ITAT Mumbai

Income Tax : ITAT Mumbai allowed deduction of ESOP expenses under Section 37(1) by following Karnataka High Court's ruling in Biocon Ltd. Tribu...

June 25, 2026 57 Views 0 comment Print

No Income Addition Based on Form 26AS as Books Showed Higher Revenue: ITAT Pune

Income Tax : The ITAT Pune upheld the deletion of an addition made by extrapolating a small unreconciled difference in Form 26AS to the entire ...

June 25, 2026 66 Views 0 comment Print

Mere WhatsApp Chats Cannot Justify Year-Wide Production Addition: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that WhatsApp chats indicating suppressed production for one month could not be extrapolated to the entire fin...

June 25, 2026 858 Views 0 comment Print

ITAT Remands Assessment as AO Rejected Mandatory Section 50C(2) DVO Reference

Income Tax : ITAT Kolkata held that the Assessing Officer was required to refer the property valuation to the DVO when the assessee disputed th...

June 25, 2026 63 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 49986 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 879 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 675 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 249 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 213 Views 0 comment Print


It is not the ‘profit from export’ but ‘profit of business’ which is to be considered in formula u/s 10B(4)

December 23, 2015 872 Views 0 comment Print

In Riviera Home Furnishing vs. Addl. CIT, Hon’ble Delhi High Court while dealing with the interpretation of Section 10B(4) held that the manner of determining such eligible profits has been statutorily defined in sub-section (4) of section 10B of the Act.

Cash Deposit in Undisclosed Bank A/c – ITAT deletes penalty as assessee declares Peak Cash as Income in Revised Return

December 23, 2015 2527 Views 0 comment Print

The assessee’s sole substantive ground challenges correctness of section 271(1)(c) penalty of Rs. 5 lacs imposed by the Assessing Officer as affirmed in the lower appellate proceedings. He had filed return on 30-04-2007.

MAT on foreign companies for the period prior to 1.04.2015-reg

December 23, 2015 2966 Views 0 comment Print

Instruction No. 18/2015 With effect from 01.04.2001, the provisions of section 115JB shall not be applicable to a foreign company (including an FII/FPI) if:- (i) the foreign company is a resident of a country with which India has a Double Taxation Avoidance Agreement and such foreign company does not have a permanent establishment in accordance with the provisions of the relevant Double Taxation Avoidance Agreement, or

How to Open NPS Account Online and Tax Benefits

December 22, 2015 27840 Views 23 comments Print

Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤  Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤  Making initial and subsequent contribution to your Tier I as well as Tier II account To open an Individual Pension account online. ✔  You must […]

Has FATCA really given a ‘fatca’ to Indian Diaspora in USA?

December 22, 2015 5349 Views 10 comments Print

USA, a nation with a population of close to 319 million with one of the highest GDP in the world, approximately 10 times of India’s yearly Gross Products is now going around the world to find and catch her own citizens and green cardholders who earn income and accumulate wealth outside the States.

Payment of broken period interest will be allowed as a business expense

December 22, 2015 1369 Views 0 comment Print

1.ITAT Mumbai held in the case of Asst. DIT Vs M/s Hongkong and Shanghani Banking Corporation Ltd that the broken period interest paid would be allowed to the assessee after relying the case of the assessee itself in The Hongkong and Shanghai Banking Corporation Ltd V/s DCIT

Transfer Pricing: Only functionally comparable companies can be compared for calculating ALP

December 22, 2015 1225 Views 0 comment Print

ITAT held in Acclaris Business Solutions Lvt Ltd. Vs I.T.O that only those companies could be compared for calculating ALP which were functionally similar. Those companies which were not performing similar functions could not be compared for calculating ALP.

For ALP of AMP, Comparable company performing similar function and cost plus method should be adopted

December 22, 2015 1355 Views 0 comment Print

ITAT held in Haier Appliances India Ltd Vs DCIT and Haier Appliances India Ltd Vs ACIT after relying on the case of Sony Ericsson Mobile Communications India Pvt Ltd reported in (2015) 374 ITR 118 (Delhi) that the above transaction of AMP

No disallowance u/s 43B for unpaid sales tax liability shown as contingent liability

December 22, 2015 5328 Views 0 comment Print

ITAT Delhi held In the case of DCIT vs. M/s. Escorts Construction Equipment Ltd. that we find that this amount represents unpaid sales tax liability and the same was disclosed itself by the assessee as a contingent liability.

Transfer Pricing adjustment has to be confined to transactions with Associated Enterprises only

December 22, 2015 1024 Views 0 comment Print

CIT Vs. V/s. M/s. Thyssen Krupp Industries India Pvt. Ltd. (Bombay High Court) In terms of Chapter X of the Act, redetermination of the consideration is to be done only with regard to income arising from International Transactions on determination of ALP.

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