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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory re...
Income Tax : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...
Income Tax : ITAT Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...
Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...
Income Tax : ITAT Delhi held that television channel and content owner companies could not be compared with a content distribution business. Th...
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...
Explains when Form 10F becomes mandatory for claiming DTAA benefits and what information must be furnished under Indian tax law. The key takeaway is that Form 10F complements the TRC and is critical for applying lower withholding tax on foreign remittances.
ITAT Delhi held that additions under Section 69C cannot be made if the AO exceeds the scope of directions issued under Section 263, emphasizing procedural compliance.
The ITAT condoned a two-day delay caused by OTP and system issues, noting the Revenue’s failure to rebut the explanation. The ruling affirms a pragmatic approach to minor procedural lapses.
The tribunal held that every oil well constitutes an independent undertaking eligible for deduction under section 80IB(9). The key takeaway is that profits of individual wells cannot be clubbed merely because they operate under a single contract.
The tribunal held that assessments completed through the DRP mechanism remain subject to the outer time limit prescribed under section 153. The key takeaway is that section 144C does not extend or override statutory limitation periods.
ITAT Bangalore ruled that interest earned on deposits from cooperative banks by credit societies is attributable to their business of lending and qualifies for deduction under Section 80P(2)(a)(i).
ITAT Bangalore ruled that interest earned by cooperative societies from cooperative bank deposits is attributable to their business of providing credit and qualifies for deduction under Section 80P(2)(a)(i).
The Tribunal held that incomplete villas incapable of occupation and held as business assets do not amount to residential houses. Deduction under section 54F cannot be denied merely due to their existence.
The law now mandates a single exemption pathway for charitable institutions, ending the flexibility of parallel regimes. The key takeaway is that once a regime is chosen, procedural compliance becomes binding and decisive.
The law allows a last chance to correct six years of TDS/TCS mistakes before the window shuts permanently. The key takeaway is that uncorrected demands after this date become irreversible liabilities.
