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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 : The Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
CIT Vs. Harnarai (Delhi High Court) – In the absence of any material on record to suggest that it was bogus or untrue. It is further evident that there was neither any detection nor any information in the possession of the Revenue which might lead to a conclusion that there was a detection by the Revenue of concealment. Accordingly, the question of law framed is answered against the Revenue and in favour of the Assessee.
Rail passengers needn’t carry a printout of their e-ticket anymore. They can travel by showing an SMS message of the ticket on their mobile phone or a screenshot of it on a laptop/iPad along with original identity proof to be shown to the ticket examiners.
Two Income Tax officers, who were arrested on graft charges, have been suspended from service, officials said here today. I-T officer Kurdaram Verma was arrested last month by anti-corruption bureau while he was accepting Rs 50,000 bribe from a hotel owner in Hanumangarh district. His colleague H K Fulwaria was also found to be involved in the matter following which he was also arrested by the ACB. Both the officers have been suspended some days back and the report has been sent to Chief Income Tax Commissioner office, the officials said.
The gross direct tax collection jumped 20.28 per cent during the April-October period to Rs 2,84,081 crore, mainly on account of increase in corporate tax mop-up. The figure was Rs 2,36,176 crore in the same period in the previous fiscal. The gross tax collection in the first seven months of the fiscal is only about 48.5 per cent of the Rs 5.85 lakh crore target for the entire fiscal.
BJP MP Varun Gandhi on Friday sought names of Members of Parliament and others who have allegedly stashed black money in the accounts of HSBC, Geneva, the details of which have recently been shared with the Finance Ministry. The young MP from Pilibhit in Uttar Pradesh has shot off a six-point RTI application seeking names […]
The government is likely to introduce a Bill that seeks to make it mandatory for all micro-finance institutions to be registered with the Reserve Bank of India and entrusts the task of regulating the sector to the central bank in the Winter Session of Parliament. The Finance Ministry is in discussion with all concerned stakeholders for fine-tuning the draft Micro Financial Sector (Development and Regulation) Bill, 2011, official sources said.
This event has become closely identified with the performance assessment of the state of Indian States on a number of well reasoned parameters. It gives this event certain glamour, some mystique and it may also be fuelling some exam like anticipation of good results, especially among some of my ministerial colleagues from different States who are here. This is no doubt good for garnering ‘media attention’ and as they say for the TRPs. I think it is also good for the health of Indian polity.
Singapore’s agreement with Spain for the avoidance of double taxation (DTA) will come into force on 1 February 2012. The agreement is Singapore’s 68th DTA and will encourage and facilitate cross-border trade and investment between Singapore and Spain, by providing greater clarity on taxing rights and minimising the scope of double taxation between the two […]
In the present matter it is seen that TDS has been deducted on “estimated income” of the employee, and the employer was not expected to step into the shoes of the AO and determine the actual income. Furthermore, under Section 191 of the Act the liability to pay the tax was that of the recipient, and that while forming this opinion the employer was undoubtedly expected to act honestly and fairly and, therefore, if it is found that the estimate made by the employer is incorrect, this fact alone, without anything more, would not inevitably lead to the inference that the employer has not acted honestly and fairly as held in the decision of Gwalior Rayon Silk Co. Ltd.(supra).
The Income Tax Department today conducted searches at the premises of prominent industrialist Gautam Singhania here and in Delhi over alleged tax evasion. The I-T operation began early in the morning and was initiated by the Intelligence Wing of the department.
