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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...
In the returns the assessee had claimed deduction under Section 10(13A) on the basis of the rent paid by him which has been debited from his salary directly. This Section exempts any special allowances specifically granted to an assessee by his employer to meet expenditure actually incurred on payment of rent for residential accommodation occupied by the assessee,
From a reading of the clauses (a) and (b) of the Explanation to section 10(13A), which were inserted by the Taxation Laws (Amendment) Act, 1984 with retrospective effect from 1-4-1976, it is absolutely clear that in order to claim deduction under sub-section (13A)
The fact that there is a short deduction of tax in the present case where it was linked with the performance incentive paid to the employee on the basis of achievement of fixed percentage, the estimated TDS deducted in a bona fide manner as per the settled legal position cannot be faulted with.
If the assessee had not bargained for interest, or had not collected interest, we fail to see how the income-tax authorities can fix a notional interest as due, or collected by the assessee. Our attention has not been invited to any provision of the Income-tax Act empowering the income-tax authorities to include in the income interest which was not due or not collected
The Income Tax Department will now accept Aadhaar Card as proof of identity and address for issuance of Permanent Account Number (PAN). The Central Board of Direct Taxes (CBDT) has issued NOTIFICATION NO. 96/2013 Dated: December 23, 2013 expanding the list of documents admissible as proof of identity and address by including Aadhaar Card.
The Central Bureau of Investigation has arrested a Sanjeev Ghei, Joint Commissioner of Income Tax Range – 2, Thane (Maharashtra) for demanding & accepting a bribe of Rs.3.5 Lakh.
Assessment proceedings under section 153A of the Act are invalid as no panchnamas were drawn in the names of 22 petitioners. Another aspect of the said contention relating to validity of proceedings under Section 153A of the Act has been also raised.
Contribution to be made to the provident fund must be the proportionate amount of salary paid to the employees. Salary was a fixed monthly payment whereas the commission was not a fixed payment and could not be included within the scope and ambit of the term salary .
Bonus cannot be regarded as falling within the scope of the expression salary as defined in Clause (h) of Rule 2. Clauses (b) and (c) of Rule 4 contain a clear indication that the expression salary takes in only periodical payments made by the employer to the employee during a year by way of remuneration.
Being a resident of Korea, appellant is governed by the Income-tax Laws applicable to the class of assessees as that of the appellant as prevalent in Korea. Therefore, it has a tax identity in Korea. In addition thereto, appellant has submitted to the jurisdiction of Indian Taxing Authorities by furnishing return of income and, thereby, acknowledged that it has also a tax identity in India.
