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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 US was extraordinarily frustrated with the slow pace of opening up of Indian economy, despite the issue being raised at the highest level, a top Obama Administration has said As you know, (the US) President (Barack) Obama led in exports and a mission to India as part of his Southeast Asia trip last year and I will be honest, we have been extraordinarily frustrated at the slow pace of opening that market, US Trade Representative Ron Kirk said at a Congressional hearing
India has entered into a pact with the British Virgin Islands for exchange of information to check tax evasion and money laundering. This is the third Tax Information Exchange Agreement (TIEA) — as it is known in the parlance of the Organisation for Economic Cooperation and Development (OECD) — signed by India.
In exercise of its powers under section 119(2)(b) of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) hereby extends the time limit for filing ITR-V forms relating to income-tax returns for A.Y. 2010-11 filed electronically (without digital signature) on or after 1st April, 2010. These ITR-V forms can now be filed upto 31st July, 2011 or within a period of 120 days from the date of uploading of the electronic return data, whichever is later.
Signals that Government may agree to formation of a JPC to probe the 2G spectrum scam emerged today after talks between government and the opposition to break the stalemate in Parliament ahead of the Budget Session. Coming out of the hour-long all-party meeting convened by Finance Minister Pranab Mukherjee, opposition leaders claimed there was consensus on the JPC issue and both the sides were keen that Parliament should function.
The Indian IT industry has sought extension of tax benefits under STPI and simplification of the tax structure to encourage investments in the sector, among others as part of its budget wish-list. The USD 76 billion software industry has requested the government to extend the Software Technology Parks of India (STPI) scheme till the Direct Tax Code (DTC), which is under consideration, is implemented.
The government is likely to challenge the Income Tax Appellate Tribunal ruling on Bofors case in the Delhi High Court for its remarks against the Income Tax department. Though government was not a direct party in the case, based on the opinion of Attorney General Mr Ghoolam Vahanvati, the Law Ministry is understood to have asked the Finance Ministry to challenge the ITAT ruling as it contained certain remarks against the Income Tax department.
The Bombay high court on Tuesday deferred a hearing on Vodafone Plc’s petition against the income tax authorities without specifying a new date for next hearing. The Bombay high court on Tuesday deferred a hearing on Vodafone Plc’s petition against t
Industry chamber CII today called for the government to provide tax incentives on agricultural activities in the forthcoming Budget to encourage private participation and adoption of new technologies in the sector.
India and Isle of Man have signed a Tax Information Exchange Agreement (TIEA) on 4th February, 2011 in London. The agreement has been signed by Shri Nalin Surie, High Commissioner of India to the United Kingdom from Indian side and Hon. Anne Craine, MHK, Minister of the Treasury from Isle of Man side. This is the second TIEA being signed by India. First TIEA was signed by India with Bermuda in Delhi on 7th October, 2010.
Net direct tax collections during the period April 2010 to January 2011 stood at Rs.3,17,501 crore, up from Rs.2,63,765 crore in the same period last fiscal, registering a growth of 20.37 percent. Growth in Corporate Income Tax was 24.78 percent (R
