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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...
However, the mere fact that the agreement was not an agency agreement is not a decisive factor as to the taxability of the amount received on termination of the agreement. Even if the agreement was not an agency agreement and it was a simple contract, the amount received on termination of the Contract can still be taxed as a revenue receipt. Merely because it does not come
New Delhi: A woman assistant commissioner of income tax has been arrested by the CBI in a graft case after she was allegedly caught taking a bribe of Rs 2 lakh for accepting I-T returns of a firm. CBI officials said K Chandrika, posted in Bangalore, had demanded Rs 10 lakh for accepting returns filed […]
THE Income Tax department raided the premises of Dr Sanjay Shah, Dr Mahesh Thakkar, his wife Dr Bindu Thakkar and some of their colleagues, and recovered Rs 1.75 crore cash from them on Wednesday and Thursday. Following a tip-off, the I-T team raided Shraddha Polyclinic at Ganesh Gawade road, Mulund (west), run by Shah and […]
Over four mn employees affiliated to over 2,500 private provident funds face the threat of losing income tax benefits on their PF contributions, as the government seems to be having second thoughts over giving these bodies permanent recognition. Taking a plea that privately-run PFs are violating investment accounting norms, the Labour Ministry is not inclined […]
This contention, in our opinion, has to be rejected outright. It is pertinent to note that Section 44DA was inserted in the Statute book by the Finance Act, 2003 w.e.f. lsl April, 2004. Simultaneously, the provisions of Section 44D were also amended by the same Finance Act. According to the amended provisions, Section 44D is applicable for computing the income by way of royalty or fees for technical services
7.1 As per the provision of section 10A of the Act, assessee is entitled to claim the deduction in respect of the profits and gains as derived by the assessee’s undertaking from the export of the articles of the things for the period of the 10 consecutive A.Y’s. Sub-section (2) to sec. 10A has laid down certain conditions for the eligibility of the undertaking to claim the deduction
Whereas the annexed Convention between the Government of Republic of India and the Council of Ministers of Serbia and Montenegro for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital was signed at New Delhi on the 8th day of February, 2006; And whereas the State Union of Serbia and Montenegro was disintegrated into two independent States after Montenegro’s formal declaration of independence on 3rd June, 2006 and Serbia’s formal declaration of independence on 5th June, 2006;
Notification No. 9/2009 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the issue of tax free bonds by India Infrastructure Finance Company Limited, carrying an interest rate of upto maximum 8 percent annum, aggregating to an amount of ten thousand crore rupees only, to be
Notification No. 4/2009 – Income Tax WHEREAS the annexed Convention between the Government of Republic of India and the Council of Ministers of Serbia and Montenegro for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital was signed at New Delhi on 8-2-2006
To curb the misuse of tax exemption given to charitable organisations, the government will now closely scrutinise accounts of large entities, which include NGOs and trade bodies, after it was found that some of them were allegedly indulging in commercial activities. More than 60,000 assessees in seven metropolitan cities are claiming tax exemption under the […]
