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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...
The Central Bureau of Investigation has arrested an Income Tax Officer posted in Ward-1, Warangal (Andhra Pradesh) for demanding and accepting a bribe of Rs.One Lakh from the complainant. A case was registered U/S 7 of PC Act, 1988 against the Income Tax Officer, Ward-1, Warangal on the basis of written complaint lodged by the complainant, a Civil Surgeon, on the allegation that the accused demanded an illegal gratification of Rs.1,00,000/- from the complainant for doing favour in the matter of assessment of income tax. A trap was laid and the accused was caught red handed while demanding and accepting a bribe of Rs.1,00,000/- from the complainant.
Finance Act, 2011[8 OF 2011] An Act to give effect to the financial proposals of the Central Government for the financial year 2011-2012. Download Finance Act, 2011 [8 of 2011] Assented by the President on 8-4-2011
The US is seeking an order from a San Francisco federal court authorising the Internal Revenue Service (IRS) to request information from HSBC Bank about US residents who may be using accounts in HSBC India to evade federal income taxes, the Justice Department said Thursday.
India can get information on secret bank accounts from Swiss authorities for cases dating from January 2011, once the revised taxation treaty between the two countries is ratified by the Switzerland Parliament. “In this case, because you (India) wants to find all the tax evaders… I think we have conceded in the negotiation of DTAA, that India will get information effective from January 1, 2011,” Swiss Ambassador to India Philippe Welti told PTI.
The government today informed the Supreme Court that it will set aside its order directing scam-hit information technology (IT) firm Satyam Computer to pay Rs 617 crore as income tax and will give a fresh hearing to the firm’s plea challenging the tax demand. Attorney General Goolam E Vahanvati, appearing for the Central Board of Direct Taxes (CBDT), told the apex court that it would recall its March 10, 2011, order, demanding Rs 617 crore in tax and decide afresh on the actual tax liability of Satyam Computer, now known as Mahindra Satyam.
Income Tax : SBI Lending Rates. We have attached herewith a file which have SBI lending rates for Assessment years 2006-07, 2007-08, 2008-09, 2009-10, 2010-11 and 2011-12. It Contains the Interest Rate on following Kinds of Loan for different period:- Interest Rate on Housing Loan up to 5 Years, Above 5 years but up to 10 years, Above 10 years but up to 15 years and Above 15 years but up to 20 years.
Due date for payment of TDS in respect of payments/Credit Related to March 2011 (Including the Expenses/Provisions/ Credits on 31St March) is April 30. So those who have not made TDS payment by 7th April can relax and pay the same by 30th April without any late payment Interest and without worrying for disallowance of expenses. The amendment in due date is made vide Notification No. 41/2010 dated 31 May 2010 (new Notification), notified Income-tax (Sixth Amendment) Rules, 2010 which amends the Rules. The Notification is effective from 1 April 2010 and applies to tax deducted/collected on or after 1 April 2010.
CIT vs. Moni Kumar Subba (Delhi High Court – Full Bench) – If Assessing Officer Finds that the actual rent received is less than the “fair/market rent‟ because the assessee has received abnormally high interest free security deposit, he can undertake necessary exercise in that behalf. However, by no stretch of imagination, the notional interest on the interest free security can be taken as determinative factor to arrive at the “fair rent”. Section. 23(1)(a) of Income Tax Act, 1961 does not mandate this.
ORDER NO. 60 OF 2011 – The following officers in the grade of Deputy/Assistant Commissioner of income Tax arc hereby transferred and posted at the station indicated against each in the Directorate of International Taxation and Transfer Pricing with immediate effect and until further orders: A. Officers who are being transferred within the same station/ region B. Officers who are being transferred to other station/region: Download the order to see the List of above:-
CIT wise details of AY10-11 paper refund Returns entered into the system but not processed is given herein below. These lists, however, do not give the true and complete picture of pending refunds, as the Systems does not have any visibility of paper refund Returns not entered onto the system. On the basis of the statistics available for earlier years, CBDT estimates the said paper refund Returns not entered onto the system so far at around 8 lacs, a large number of which pertain to Mumbai & Delhi. Today April 03 morning, CCITs (CCA) of Mumbai & Delhi have been sensitized by the Chairman personally about the need to issue all refunds by April 10 2011. All officers, especially those posted at Delhi & Mumbai, are once again advised to rise to the occasion & issue all refunds by this date.
