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Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : ITAT Delhi held that reassessment cannot survive when additions are made on issues unrelated to the reasons recorded for reopening...
Income Tax : The Delhi ITAT held that reassessment initiated beyond three years was invalid because the alleged escaped income represented by p...
Income Tax : The Telangana High Court refused to interfere with the assessment order in writ proceedings, citing the availability of an effecti...
Income Tax : ITAT Delhi confirmed disallowance of a Section 80GGC claim after relying on investigation findings that the political party operat...
Income Tax : The Tribunal ruled that non-deduction of tax pursuant to subsisting High Court directions cannot attract liability under Sections ...
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...
I am attaching herewith a Presentation on Income Tax Returns for A.Y. 2014-15 and tax Audit Provisions. The presentation covers the following Topics :- 1. Requirements by the Income Tax Authorities from the Filers; 2. Goals of the IT Department; 3. Statistical Information of the goals achieved;
A valid Email ID and Mobile Number has to be registered/updated on the e-filing website of the Income Tax Department so that direct communication with taxpayer can be possible. The Department will send separate One Time Passwords (OTP) also referred as PIN on the mobile and email provided by the taxpayer. The OTPs have to […]
Hon’ble Odisha High Court has granted stay on the recovery of Late fee charged Under Section 234E of the Income Tax Act,1961. In Separate cases Hon’ble Bombay, Rajashthan, Kerala and Karnataka High Court has already stayed the Recovery Proceeding U/s. 234E of the Income Tax Act,1961 till the final verdict in the case.
Printing Process for Union Budget 2014-15 Commenced with Halwa Ceremony; more than 100 Officials Involved in Making the Union Budget are Locked in From Today in Press till Union Budget is Presented by the Finance Minister on 10th July, 2014 More than 100 officials involved in making the Union Budget are locked in from today […]
Form 24G Return Preparation Utility (RPU) and File Validation Utility (FVU) Version 1.3 for the Form 24G Statements from FY 2005-06 onwards released (27/06/2014) Link to Download New RPU and FUV https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php
CBDT in its Instruction No. 2/2014 [F No. 500/33/2013-FTD-l], Dated 26-02-2014 issued in view of the judicial develpments in the cases of GE India Technology P Ltd. vs CIT [2010] 7 taxmann.com and Transmission corporation of AP Ltd v. CIT [1999] 105 Taxmann 742 decided by Supreme Court, has stated that a person who fails […]
CA Sandeep Kanoi Finance ministry considering the proposal to increase deduction limit under section 80C of the Income Tax Act, 1961 to Lakh from existing limit of Rs. one Lakh. The Limit of deduction U/s. 80C of Rs. one lakh was fixed wef Financial Year 2005-06 by replacing the section 88 of Income Tax Act,1961. […]
CBI had registered a case against the Joint Commissioner of Income Tax Deepak J Mehta and ITO P N Srivastava on the complaint of the Owner of a firm engaged in business of fishery based at South 24 Parganas (West Bengal). It was alleged that both the public servants had demanded illegal gratification of Rs.25 lakhs from the Complainant for providing relief to his firm in avoiding penalty and additional tax liability.
Standard Operating Procedure on filing of Appeals/ Special Leave Petitions (SLPs) by the Income tax Department in the Supreme Court and related matters: instructions regarding- Revised Proforma B to Instruction No 4/2011 dated 09.03.2011- reg.
Tin-NSDL has released FUV 4.30, FUV 2.139 and RPU 4.0 which are effective from 28th June 2014 in respect of TDS /TCS statement filed or to be filed on or after 28th June 2014. The only change in revised RPU and FUV is Addition of New State code for TELANGANA.
