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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
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 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 an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
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 Member of Parliament and former owner of BPL Mobile, Mr Rajeev Chandrasekhar, has written to the Prime Minister suggesting the Government should impose a windfall (Extra) tax on new mobile players if they sold their licences.
It could soon be a tough road ahead for vehicles with low fuel efficiency. The Government is considering a proposal to introduce a new tax on such vehicles to ensure that they are phased out. This tax could be a deterrent against manufacture of fuel-guzzling vehicles. The proposal simultaneously suggests a ban on vehicles older than 15 years as they cause greater pollution. Besides, States could be given incentives to impose such taxes, while those not falling in line might be penalised.
The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government’s budget deficit for the current financial year. But, surprisingly, the government has said that it can only recover Rs 13,000 crore, about 6.5% of the total outstanding, from corporates and individuals on whom the tax is pending.
Once an appeal against the order passed by an authority is preferred and is decided by the appellate authority, the order of the said authority merges into the order of the appellate authority; with this merger, order of the original authority ceases to exist and the order of the appellate authority prevails; the limitation for the purpose of section 154(7) is to be counted from the date of this order of CIT (A) and not the date of original order of assessment.
In the case before us, the Agreement between the assessee and DCIL/Distacorn and Modicorp is to assist the assessee by providing services in the manner setout in Schedule – 1 to the Agreement, [n the Agreement, it has been clearly provided that DCIL and Distacom have technical and operational
An order under section 142(2A) of the Income Tax Act, 1961, directing the assessee to get the accounts audited by an accountant nominated in this behalf by the Chief Commissioner or the Commissioner and to furnish a report of such audit, does entail civil consequences. The special audit under section 142(2A) is not limited to the mere production of the books and vouchers before the auditor and verification thereof:
The principal of accrual of profit does not come in the way of allocation of profit in the two periods; deduction under different sections can be allowed on different profits, if the same are admissible.
As per the letter of the Central Government dated 9-7-1973, all State-controlled Educational Committee(s) /Board(s) have been constituted to implement the Educational policy of the States(s), consequently, they should be treated as Educational Institution within the meaning of section 10(22).
Once it is held that the business transactions do not fall within section 2(22)(e), one need not to go further to section 2(22)(e)(ii) to take away the basic meaning, intent and purport of the main part of section 2(22)(e).
For the purposes of paragraph 2 of this Article, and subject to paragraph 5 of this Article, the term ‘fees for technical services’ means payments of any kind to any person in consideration for the rendering of any technical or consultancy services (including the provision of services of technical or other personnel) which:
