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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...
Income deemed to accrue or arise in India-Under section 9(1)(vi)-Income from supply of software to clients in India-Where assessee was engaged in sale of copyright software then income from such sale cannot be treated as royalty under section 9(1)(vi) particularly where assessee did not have any PE in India.
The new legislation, introduced in Parliament on Monday, says an individual shall be resident in India in any financial year if he is in the country for more than 59 days in that year and has been in India for more 365 days in the four preceding fina
The Central Board of Direct Taxes (CBDT) has decided to extend the time Limit for filing ITR-V forms relating to income-tax returns for A.Y. 2009-10 filed electronically (without digital signature) on or after 1st April 2009. These ITR-V forms can no
Notification No. 71/2010-Income Tax It is hereby notified for general information that the organization Auroville Foundation, Auroville, Tamil Nadu has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961(said Act), read with Rules 5C and 5F of the Income-tax Rules, 1962 (said Rules), from Assessment year 2009-2010 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions, namely:-
Notification No. [SO 732(E) (File No. C.4/1/2010-SEZ)]-Income Tax In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely :— 1.(1) These rules may be called the Special Economic Zones (Third Amendment) Rules, 2010.
The President has assented to the Personal Laws (Amendment) Act, 2010 on 31st August, 2010 and it is published in the Gazette of India as Act 30 of 2010 on 1st September, 2010. The Act has amended the Guardians and Wards Act, 1890 and the Hindu Adopt
While the tax burden for an average taxpayer will lighten marginally, for tax evaders the Direct Taxes Code proposes to reduce penalties substantially. The DTC Bill, tabled in Parliament on Monday, proposes that anyone under-reporting their tax base would have to pay a maximum penalty of two times the tax sought to be evaded.
The new direct taxes code has provisions to restrain public sector undertakings and the tax department from taking their disputes beyond a certain level, a move aimed at curbing wasteful litigation.
In our view decision in the case of Green Emirate Shipping & Travels (supra) is squarely applicable to the facts of the present case. As held in the aforesaid easel expression liable to tax’ in that contracting state as used in Article 4(l)of Indo-UAE-DTAA does not necessarily imply that the person should actually be liable to tax in that contracting state land that it is enough if other contracting state has right to tax such person, whether or not such a right is exercised
In our considered view, the AO was within his realm to invoke the provisions of s.40(a)(ia) of the Act on the premise that the assessee had failed to deduct tax at source while making the interest payments. The assessee’s stand that the payees have approached the AOs concerned for issuance of No TDS/lower TDS etc., authorization which they have failed to obtain etc., doesn’t hold water. Further contention of the assessee that TDS obligation was not was required, considering the computation of income shown in each case where F No.13 application was made to the AO concerned for authorization, in our considered view, to put it gently, the assessee had over-stepped in his perception which he was not obliged to do so under any provisions of I.T.Act.
