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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 : Bombay High Court quashed income tax reassessment proceedings after holding that the PAN was not transferred to the competent juri...
Income Tax : The Calcutta High Court upheld the ITAT's decision quashing the assessment after finding that the notice under Section 143(2) was ...
Income Tax : The Ahmedabad ITAT held that adjustments under Section 143(1)(a) cannot be sustained without evidence of prior intimation to the a...
Income Tax : The Court held that although filing the audit report along with the return is directory, complete failure to furnish the report is...
Income Tax : The Supreme Court held that filing Form 3AA during assessment proceedings constituted sufficient compliance, even though it was no...
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...
Sticking to its claim that it does not have a tax liability, Vodafone today said it made no capital gains in the USD 11 billion (about Rs 50,000 crore) Hutchison buyout deal and would take necessary action to defend its position.
The Income Tax Department on Monday said that it will issue a demand for over R12,000 crore to Vodafone within four weeks, following a Supreme Court verdict to that effect. “We will be raising tax demand on Vodafone within four weeks,” CBDT Chairman S.S.N. Moorthy said. He said a few similar cases are also under the I-T department’s scanner, but refused to name them. “Apprehensions have been expressed in different quarters regarding the impact of such action on foreign investment in India…. This, together with the fact that India has received the highest ever foreign direct investment in the current fiscal, belies that apprehension,” he said.
On consideration of the reports of disturbance of general life caused due to floods and heavy rains, the Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income Tax Act, 1961, hereby extends the due date of filing of returns of income for the Assessment Year 2010-11 from 30-09-2010 to 15th October 2010. Accordingly the due date for Tax Audit report u/s 44AB of the Income Tax Act is also extended to 15th October 2010.
The SC has reversed the view of the Bombay High Court which had held that the term business or commercial rightsand licence are referable to a class of intellectual property rights such as know-how, patents, copyrights, trademarks etc. The SC has held that the business or commercial rights need not be similar to a licence or franchise or other classes of intellectual property rights to be considered as an intangible asset.
Certain specified expenditure such as non-compete fee, business reorganization expenses, etc. shall be allowed on a deferred basis over a period of 6 years. However, expenditure incurred by a resident on any operations relating to prospecting for any
The Court, by referring the case back to the assessing officer, appears to have accepted the contention that only services rendered by humans can be regarded as a technical service. The ruling has particular significance for the technology sector where similar interpretation issues on taxability of technical services are common. Further as held by the Court, in such cases technical evidence would be required for establishing that there was no human intervention involved in the process.
Where an undertaking existed in the same place, form and substance and did carry on the same business before and after the change in legal character of the form of organization, the taxpayer is eligible for deduction.
Union Finance Minister Pranab Mukherjee today launched a new pension scheme for workers in the unorganised sector who do not have access to the social security net. “I launched the scheme today to coincide with the 78th birthday of Prime Minister Man
The dispute over taxing the money spent by actors on their followers came up before the Madras high court that was hearing an appeal by the income tax (I-T) department against a tribunal order that went in favour of Tamil actor Vijayakant. The actor
Assessee has not made out a case for total waiver of pre-deposit and keeping in view the total facts and circumstances of the case, we direct the assessee to deposit an amount of Rs.1,00,000/- (one lakh) within a period of four weeks from today and on such deposit, pre-deposit of the balance amount of Service Tax and penalty shall stand waived and recovery thereof stayed pending the appeal. Failure to comply with this direction shall result in vacation of stay and dismissal of appeal without prior notice.
