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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 ruled that the Assessing Officer cannot tax share premium under Section 68 solely on the basis that the premium lacks...
Income Tax : The ruling emphasized that CAM charges remain separate transactions irrespective of whether payments are made to the same landlord...
Income Tax : The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefo...
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 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...
Coffee Debt Relief Package 2010.—The Coffee growers in the country have been facing long standing financial problems ever since the coffee prices fell to very low levels during the period 2000-2004. Relief Packages in the form of Special Coffee Term Loan 2002 and Special Coffee Relief Package 2005 were sanctioned to revive coffee sector, besides other initiatives like PM’s Relief Package for Debt Stressed farmers and Debt Waiver
A section of the media has reported communication between the Income Tax department and the Central Bureau of Investigation regarding records of telephonic conversations between a person by the name of Nira Radia and others. It is also reported, citing sources in the CBI, that in addition to Radia, telephone lines of several other influential business-men, politicians and advertising professionals were tapped.
Whether on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that 90% of recovery of freight, insurance and packing receipts amounting to Rs.49,14,076/, sales tax set off/refund amounting to Rs.38,33,148/and service income of Rs. 2,89,17,545/are not to be excluded from profits of business
on or after the 1st day of April, 2010, where the specified business is in the nature of developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and which is notified by the Board in this behalf in accordance with guidelines as may be prescribed; and”;’
A special court on Tuesday extended the judicial custody of income tax official Sumitra Banerjee and her husband, Subrato, to May 11. Sumitra, an additional IT commissioner, was nabbed by CBI officers on April 17 for demanding a bribe of Rs 1.5 crore from a builder.
The income tax department is keeping a tight vigil on Indians, notably the ones suspected of owning bank accounts, visiting tax paradises such as Switzerland, Cayman Islands, Mauritius and the Bahamas, as it amplifies efforts to trace tax evasion and slush funds tucked away abroad.
The government has set up two income tax overseas units at its missions in Singapore and Mauritius and will create such units in eight more countries to facilitate exchange of information on tax-related issues, Parliament was informed today.
Income Tax department and the Unique Identification Authority of India have agreed “in-principle” to come together for rolling out PAN cards with unique 16 digit Aadhaar number. Official sources said both the UIDAI headed by Nandan Nilekani and the finance ministry has held series of meetings on the subject and are now in the process of working out the modalities.
The Indian Premier League (IPL) did not start with Sunanda Pushkar. It has been around for more than three years. The relationship between IPL franchises and tax havens is not something new. But the investigative hounds were unleashed after the exit of minister of state for external affairs Shashi Tharoor.
The probe into the Indian Premier League (IPL) is inching ahead. After the Mauritius-based World Sports Group (WSG), which holds the IPL broadcast rights, the income-tax (I-T) department has asked Mauritius Colway Investment, a firm owned by Lalit Modi’s son-in-law Gaurav Burman, to submit the financial details and source of funding of its investments in Kings XI Punjab (KXIP). Burman owns 23% in the franchisee.
