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Latest Articles


ITR Filing 2026: Important Due Dates, Budget 2026 Updates & Strategies

Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...

June 10, 2026 531 Views 0 comment Print

Sikkim: India’s Only Income Tax-Free State and the Law Behind It

Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...

June 10, 2026 198 Views 0 comment Print

8 Legal Ways to Save Income Tax in India for Business Owners & Freelancers

Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...

June 10, 2026 354 Views 0 comment Print

Section 54 Exemption for Capital Gains on Residential Property Transfer

Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...

June 10, 2026 97146 Views 4 comments Print

E-Payment of Direct Taxes: Simplifying Tax Payments

Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...

June 10, 2026 10272 Views 0 comment Print


Latest News


Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6046 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 231 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

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...

June 4, 2026 1608 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3723 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3963 Views 0 comment Print


Latest Judiciary


Share Premium Can’t Be Taxed U/s 68 Merely Because AO Finds It Excessive: Mumbai ITAT

Income Tax : The Tribunal ruled that the Assessing Officer cannot tax share premium under Section 68 solely on the basis that the premium lacks...

June 11, 2026 33 Views 0 comment Print

CAM Charges Attract TDS Under Section 194C and not Under 194J: ITAT Delhi

Income Tax : The ruling emphasized that CAM charges remain separate transactions irrespective of whether payments are made to the same landlord...

June 11, 2026 84 Views 0 comment Print

ITAT Deletes TDS Demand as Seller’s PAN Was Regularised Within CBDT Timeline

Income Tax : The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefo...

June 11, 2026 69 Views 0 comment Print

Income Tax Refund Interest payable up to actual date of refund issuance: ITAT Delhi

Income Tax : The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest...

June 11, 2026 66 Views 0 comment Print

Section 56(2)(viib) Not Applicable to CCD Conversion Without Fresh Consideration: ITAT Delhi

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...

June 11, 2026 528 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 45228 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 564 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 492 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 165 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 138 Views 0 comment Print


Can the valuation done by any authority of the State Government for the purpose of payment of stamp duty in respect of land or building be taken as actual sale consideration received by the purchaser?

August 25, 2010 1402 Views 0 comment Print

The Assessing Officer added the difference between purchase price disclosed in the sale deed and purchase price of the property adopted for the purpose of paying the stamp duty to the total income of the assessee as income from unexplained sources. The Commissioner of Income-tax (Appeals) deleted this addition by holding that section 50C is a deeming provision for the purpose of bringing to tax the difference as capital gain.

Can the notional interest on interest free deposit received by the assessee in respect of a shop let out on rent be brought to tax as “Business income” or “Income from house property”?

August 25, 2010 2240 Views 0 comment Print

The assessee had received interest free deposit in respect of shops given on rent. The Assessing Officer added to the assessee’s income notional interest on the interest free deposit at the rate of 18 per cent simple interest per annum on the ground that by accepting the interest free deposit, a benefit had accrued to the assessee which was chargeable to tax under section 28(iv).

Remuneration allowable even if Partnership not specifies remuneration payable to each individual working partner

August 25, 2010 3584 Views 0 comment Print

In a case where the partnership deed does not specify the remuneration payable to each individual working partner but lays down the manner of fixing the remuneration, would the assessee- firm be entitled to deduction in respect of remuneration paid to partners?

Does the Central Board of Direct Taxes (CBDT) have the power under section 119(2)(b) to condone the delay in filing return of income?

August 25, 2010 3286 Views 0 comment Print

The assessee filed his return of income which contains a claim for carry forward of losses a day after the due date. The delay of one day in filing the return of income was due to the fact that the assessee had not reached the Central Revenue Building on time because he was sent from one room to the other and by the time he reached the room where his return was to be accepted, it was already 6.00 p.m. and he was told that the return would not be accepted because the counter had been closed.

Place of effective management essential to substantiate the residential status of the Mauritius company while claiming the capital gains exemption in India

August 24, 2010 2168 Views 0 comment Print

Mere tax residence certificate may not be the conclusive determinant of residential status of the Mauritius company. It may be essential to substantiate the residential status based on the place of effective management. Documents like board minutes etc would need to be authenticated by the government agency in Mauritius in order to be relied upon as evidence in case of dispute on place of effective management.

Fiscally transparent partnership firm eligible for tax treaty benefits and application of “force of attraction” rule to profits indirectly attributable to PE

August 24, 2010 2905 Views 0 comment Print

The Ruling recognizes that a partnership firm, albeit a fiscally transparent entity, can be regarded as an entity liable to tax and hence eligible for benefits under the DTAA. The Tribunal has also observed that the fiction of deeming the PE to be a distinct and separate enterprise is for the limited purpose of preventing the manipulations that may arise in intra-group transactions. The Tribunal has also held that income from services rendered offshore for Indian projects are taxable in India in the hands of the PE even if they are not directly connected to the PE by interpreting the “direct or indirect profits attribution rule” in the India-UK DTAA in a wide manner.

Sharma allays fears on SEZ tax sops

August 24, 2010 819 Views 0 comment Print

Commerce and Industry Minister Anand Sharma today said that he has conveyed investor concerns over the proposed withdrawal of fiscal benefits to SEZs to Prime Minister Manmohan Singh and assured the industry of protecting the exemptions.

Fake income tax commissioner held for extortion

August 24, 2010 1188 Views 0 comment Print

The crime branch of Delhi Police has arrested a 24-year-old man who allegedly posed as an income tax commissioner and demanded Rs 30 lakh from a businessman in return of closing a fictitious complaint against the victim. The accused, Dinesh Kumar, was arrested last Friday from the Millennium Park area in southeast Delhi.

Onshore software development revenues of IT companies under tax scanner

August 24, 2010 1523 Views 0 comment Print

When American Senator Charles Schumer described Indian software firms as `chop shops’, few imagined that the taxman back home could add salt to the slur. Indeed, Indian income-tax authorities are beginning to claim tax on the money that software firms make by sending their boys to work with companies in the US, Europe and other markets—a business that is known as onshore software development, or simply ‘body shopping’.

The Supreme Court asks tax authorities to get the help of technical experts while deciding income tax liability of cellular service providers

August 24, 2010 756 Views 0 comment Print

The Supreme Court has asked the Central Board of Direct Taxes (CBDT) and other tax authorities to get the help of technical experts while deciding income tax liability of cellular service providers. The order came after a batch of appeals by income tax authorities against the ruling of the tribunal favouring Bharti Cellular Ltd and other service providers.

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