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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 ITAT Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock o...
Income Tax : The ITAT Delhi held that cash deposits during the demonetization period could not be treated as unexplained credits when they orig...
Income Tax : ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receip...
Income Tax : The Tribunal ruled that premium rooms, higher tariffs, and specialized medical facilities cannot by themselves establish a profit ...
Income Tax : The ITAT Delhi held that free tickets, hospitality, conveyance, goods, and lodging expenses attracted Fringe Benefit Tax under the...
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...
Notification No. 37/2010-Income Tax In exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Industrial Park Scheme, 2008, namely :-
It has been clarified by the Central Board of Direct Taxes (CBDT) that widening of an existing road by constructing additional lanes as a part of a highway project by an undertaking would be regarded as a new infrastructure facility for the purpose of Section 80IA (4)(i) of the Income Tax Act, 1961.
Driven by a rare sense of complacency, most Mumbaikars who received wrong recovery notices from the income tax (I-T ) department, have not yet chosen to set the record straight. Despite the fact that the I-T authorities have requested people to fill in rectification forms, many have neglected to do so, which means that the amount could resurface as outstanding dues in future.
Recently, the real estate sector in India is becoming an attractive investment ground for the diasporas who have evinced a keen interest in owning residential and commercial properties in India. Ganesh is a non resident Indian residing in London, UK. He wants to buy property in India and seeks advice on the regulatory framework for investing in real estate in India.
In Shree Capital Services 121 ITD 498 (Kol) it has been held by the Special Bench that the amendment to s. 43(5)(d) is neither clarificatory nor retrospective in operation. Consequently, derivatives can be considered non-speculative u/s 43(5)(b) only to the extent they are for hedging purposes;
Whether the ld CIT(A) is justified in holding that the amount received by the appellant from the subscribers are in the nature of fees for technical services to the extent of subscription fees received for providing information/data on various products like financial/ forex/ commodity market and ‘royalty’ for use of equipments such as shared printer, matrix etc., and accordingly, entire receipts are liable to tax @ 20% on gross basis u/s 44D r.w.s 115A.
Industry players today asked the Finance Ministry to extend the last date for e-filing of returns by a month, to October 31, as listed firms would find it difficult to comply with the existing September 30 deadline.
Notification No. 34/2010-Income Tax The Central Government have approved Jeevan Akshay-VI Plan of the Life Insurance Corporation of India as an annuity plan eligible for deduction under clause (xii) of sub-section (2) of section 80C of the Income Tax Act, 1961.
Centralized processing centres for improving tax payer services in two more places. Union Finance Minister Shri Pranab Mukherjee has said that the government intends to introduce the Direct Taxes Code in the forthcoming Monsoon Session of the Parliament. He was addressing the Central Direct Tax Advisory Committee.
The e – filing facility for the assessment year 2010 – 11 has been restored. The taxpayers can now e – file their income tax returns without any difficulty.
