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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 ruling emphasized that CAM charges remain separate transactions irrespective of whether payments are made to the same landlord...
Income Tax : The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefo...
Income Tax : The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest...
Income Tax : The ITAT held that Section 56(2)(viib) cannot apply where equity shares are issued upon conversion of CCDs without receipt of fres...
Income Tax : The ITAT held that reassessment initiated beyond four years cannot survive unless the Assessing Officer records that the assessee ...
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...
Following are the highlights of RBI mid-quarterly monetary review conducted for the first time on Thursday: 1. Ups short term lending (Repo) rate by 0.25 pc to 6 pc 2. Ups short-term borrowing (Reverse Repo) rate by 0.50 pc to 5 pc
Union Minister of Labour & Employment, Shri Mallikarjun Kharge Chaired the 190th Meeting of the Central Board of Trustees (EPF) in New Delhi CBT decides to increase the rate of interest to be credited to EPF members accounts for the year 2010-11 to 9
The Union Cabinet today approved the introduction of the Multi-State Co¬operative Societies (Amendment) Bill, 2010 in the Parliament. These amendments are intended to enhance the public faith in the cooperatives and to ensure better accountability of
Finance Minister tabled the Direct Taxes Code Bill, 2010 (DTC 2010) in Parliament on 30 August 2010 with a view to simplify the direct tax legislation in India. The DTC 2010, once enacted, would come into force from 1 April 2012. This Article provide
Notification No. 72/2010-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of Section 10 of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby authorizes the Indian Railway Finance Corporation (IRFC) to issue, during Financial Year 2010- II, tax free secured, redeemable, non-convertible Railway Bonds of Rs. 1,000 each in case of public issue and Rs. 1,00,000 each in other cases, aggregating to an amount of three thousand and eighty crore rupees only, carrying an interest rate in the range of 6% to 7.25% per annum, depending upon the size and tenor of a tranche
British telecom operator Vodafone said it has filed an appeal with the Supreme Court, after the Bombay High Court dismissed its petition and ruled that the income-tax authorities have jurisdiction over tax bills in cross-border mergers.
Banking and financial services companies the led corporate pack as advance tax payments for July –September grew by about 14 per cent, tax department sources said. Mortgage finance major HDFC paid about Rs. 400 crore as advance tax for the quarter, w
Capital gains-Scope of section 50C-Extension of section 50C to purchaser-Section 50C creates a legal fiction for taxing capital gains in the hands of the seller and it cannot be extended for taxing the difference between apparent consideration and valuation done by Stamp Valuation Authorities as undisclosed investment under section 69. This fiction cannot be extended any further and, therefore, cannot be invoked by AO to tax the difference in the hands of the purchaser.
The New Pension Scheme (NPS) has so far not seen too many takers after the government opened the scheme to the public in 2009. However, the investment scenario will most likely change in favour of NPS once the proposals under the latest Direct Taxes
In Direct Tax Code, 2010 Senior Citizens are left with no practical avenues for making tax-saving investments. DTC (and most of us who have commented on it) assumes that income from work ends at retirement. However, this is not true for a significant number of seniors. Many still do part-time work or irregular work after their formal retirement, while a significant number have rent income.
