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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 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 ITAT Chennai held that an Assessing Officer cannot introduce a new addition while giving effect to an appellate order. Since t...
Income Tax : The Tribunal held that actual rent received under genuine, registered agreements cannot be replaced with hypothetical market rent ...
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 proposed Direct Taxes Code (DTC), which will replace the archaic Income Tax Act, is bulkier than the existing law, as the new legislation also seeks to substitute the current Wealth Tax Act. While the proposed DTC has 319 sections and 22 schedules, there are 298 sections and 14 schedules in the existing act.
With a view to avoiding a dispute in respect of assessment of income-tax liability in the case of a non-resident (and also specified categories of residents), a Scheme of Advance Ruling was incorporated in Chapter XIX-B of the Income-tax Act. The Authority for Advance Rulings ( AAR ) pronounces rulings on the applications of the non-resident/residents submitted in the prescribed form following prescribed procedure and such rulings are binding both on the applicant and the income-tax department.
Government of Jammu & Kashmir is levying tax of Rs.2000.00 per day on All India Tourist Vehicles. The vehicles carrying passengers/pilgrims for Mata Vaishno Devi are however being charged the tax of Rs.2000.00 for a period of 3 days. Similarly, vehicles carrying passengers/pilgrims for Amarnath Yatra are being charged tax of Rs.2000.00 for a period of seven days.
Levying of capitation fee is against the national policy as well as rulings of the Apex Court. A legislative proposal namely ‘The Prohibition of Unfair Practices in Technical Educational Institutions, Medical Educational Institutions and Universities Bill, 2010 has been circulated in Parliament.
A protocol amending the existing Double Taxation Avoidance Agreement was signed here today between Republic of India and Swiss Federal Council. The Signing ceremony was held at the Ministry of Finance, North Block, New Delhi. The protocol was signed for the Republic of India by Shri Pranab Mukherjee, Finance Minister while the Swiss Federal Council Foreign Minister, Ms. Micheline Calmy-Rey signed for the other side.
The Supreme Court has declared that an application for settlement of an income tax case cannot be revised and the settlement commission has to go by the original application and annexure filed in the prescribed form. Revision of annexure tantamount to revision of application and cannot be allowed under the scheme of settlement in Chapter XIX-A of the Income Tax Act,
The government will lose over Rs 53,000 crore (Rs 530 billion) in tax revenue on account of the increase in exemption limits and tweaking of slabs in the Direct Taxes Code Bill, which will come into effect from April 1, 2012, a year behind the previous deadline.
a candidate desirous to seek verification of marks in any subject(s) of June, 2010 examination result is required to submit an application written on a plain paper in his/her own handwriting, mentioning his/her (i) Name; (ii) Student Registration Number; (iii) Stage of Examination and Roll No.; (iv) Name(s) of Subject(s) in which Verification of Marks is sought; (v) Complete Postal Address with Pin Code; and (vi) details of payment made, to Sr. Director (Exams.), The Institute of Company Secretaries of India, C-37, Institutional Area, Sector 62, NOIDA – 201 309. Specimen of application form is also displayed at link http://www.icsi.edu/portals/0/announce_vom.doc for ready reference.
With the Union Cabinet clearing the the new Direct Taxes Code (DTC) on Thursday, tax benefits on ELSS investments up to Rs 1 lakh are expected to go by next April. And investors looking for greener investment pastures are retreating from ELSS.
The direct taxes code (DTC) approved by the Cabinet gives a reprieve to special economic zones, or SEZs, till 2014 from the proposed regime, but has imposed a 20% minimum alternative tax, which is likely to be opposed by the industry.
