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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...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 Ranchi held that a retired non-government employee was entitled to exemption under Section 10(10AA)(ii) for the entire le...
Income Tax : The ITAT Bangalore held that interest earned on compulsory statutory deposits made under the Karnataka Souharda Sahakari Act const...
Income Tax : The Gujarat High Court quashed a reassessment notice issued under Section 148 after finding that a loose paper seized from a third...
Income Tax : The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence ...
Income Tax : ITAT Ahmedabad held that an addition under Section 68 cannot be sustained solely on information received from the Investigation Wi...
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...
In the case of Vofafone East Ltd. Vs. Addl. CIT Kolkata Bench of ITAT observed the applicability of various provision of TDS where tax was not deducted on the roaming charges paid by the Appellant to its telecom operators.
1. How to Download Form 16B and 2. what if there is a mistake in form 16B how Buyer of immovable property can make corrections to the details to be printed on Form 16B once and download the corrected Form 16B?
In the case of ACIT Vs. Prem Castings Pvt. Ltd. ITAT, Delhi Bench reversed the order of CIT (A) who deleted addition of Rs. 3,46,00,000/- after relying upon the decision of Hon’ble SC in the case of Lovely Exports (216 CTR 195) in which it was held that once the assessee has produced documents regarding
In the case of ACIT vs. OBC, Mumbai Bench of ITAT observed that the amount paid by the assessee bank (the lessee) to City Industrial Development Corporation (MMRDA) (Lessor) was in the nature of rent as defined u/s 194 I of the Act or not, which held yes by CIT (A).
ITAT Delhi held In the case of Xchanging Technology Services India Private Limited. vs, DCIT that the Hon’ble High Court affirmed the conclusion that a captive unit of a comparable company which assumed only a limited risk cannot be compared with a giant company in the area of development
ITAT Delhi held In the case of Eli Lilly & Co. (India) Pvt. Ltd. vs, ACIT that a clear distinction has been made between the free samples, gifts, travel facilities, hospitality and cash or monetary grants. It would accordingly be incorrect to put samples in the definition of gifts being separately categorized
ITAT Delhi held In the case of Tsurphu Labrang vs. DIT (Exemptions) that Rule 17A itself provides that it is not necessary that the Institution/Trust should be established under an instrument. The Rule 17A does not prescribe that in case the Institution/Trust
ITAT Delhi held In the case of Honda Trading Corporation. vs, DCIT that despite the use of the word `may’, the time limit for passing the order by the TPO is mandatory, as in the otherwise situation of the TPO having been allowed more time by implication
ITAT Delhi held In the case of Alcatel-Lucent Technologies. vs, DCIT that merely because the assessee in the TP study had included the comparable, which was accepted by TPO, it does not follow that the assessee cannot resile from its original claim at a later stage of proceeding
Key Features – Return Preparation Utility (RPU) version 1.4 ♠ Remark ‘B’ is made applicable for Section code 194DA for Form 26Q, FY 2015-16, Q3 onwards. ♠ Addition of challan (i.e. C9 correction) in correction statements: As directed by Income Tax Department (ITD), addition of challan option (i.e. is C9 correction) has been made available […]
