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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...
“I-T department will review the property deals in Delhi and take action in appropriate cases,” Central Board of Direct Taxes chairman Sudhir Chandra told reporters here, adding that these reviews will include both individual and corporates property deals in Delhi and the National Capital Region (NCR – Noida, Gurgaon).
While CBDT made its stance of wielding the stick for tax evades clear, it also had some goods news for the honest taxpayer. Chandra assured taxpayers that if they filed e-returns, refunds could come within a month as most of the backlog had been cleared.
The Government of India has created 12 posts of Income Tax ombudsman at 12 stations namely New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Lucknow, Chandigarh, Bhopal and Kochi under the Income Tax ombudsman Guidelines 2010.
After having made 8.23 lakh refunds already in the first half of this month, the Income Tax Department on Monday said it will settle all the pending claims in April itself. Refunds of Rs 78,000 crore to about 85 lakh assesses were made in 2010-11. In the first half of April, the I-T Department refunded Rs 6,183 crore to 8,23,101 assesses, Chairman of Central Board of Direct Taxes (CBDT) Sudhir Chandra told reporters here.
CBDT has also lauded the Mumbai IT department on April 19, which released a book aimed at plugging tax avoidance or evasion techniques by India Inc. The CBDT has further indicated that pending corporate refunds are no longer a matter of concern.
The Finance Ministry favours re-negotiation of the tax treaty with Mauritius so that India could have access to banking details, besides tax-related information. With a view to prevent generation of black money and stop re-routing of funds through Mauritius, the Finance Ministry has recently asked the Ministry of External Affairs to tighten the Double Taxation Avoidance Agreement (DTAA) between the two countries.
After having made 8.23 lakh refunds already in the first half of this month, the Income Tax Department today said it will settle all the pending claims in April itself. Refunds of Rs 78,000 crore to about 85 lakh assesses were made in 2010-11.
Recently, the Chennai bench of the Income-tax Appellate Tribunal in the case of Wheels India Ltd. v. ACIT I.T.A No. 1793/Mds/2006 (Chennai) held that payment made to US companies for ‘developing tooling’ and ‘validating new process for manufacture’ of wheels for commercial vehicle was ‘fees for included services’ as per Article 122 of the India-USA tax treaty.
Pannalal Kejriwal Vs CIT (Calcutta High Court)- Whether in the facts of the present case the transactions relating to the shares of ITC Ltd. and Tata Tea Ltd. on behalf of the two partners where the assessee-firm apparently acted as broker could be said to be the transaction on behalf of the assessee-firm itself and the profit of the two partners can be added to the income of the assessee-firm.
The Income Tax Department has asked taxpayers to furnish details earned from agriculture in its newly modified I-T return form — Sahaj — for assessment year 2011-12. Known as Saral-II and originally meant for the service-class, the Sahaj form has a column devoted to income from agriculture. “This information on agricultural income is for record only and not to be taxed,” a senior I-T official said.
